Strengthening FHA Through Shared Equity Homeownership Act of 2010

Summary

Strengthening FHA Through Shared Equity Homeownership Act of 2010 - Directs the Secretary of Housing and Urban Development (HUD) to carry out a shared equity homeownership pilot program to analyze the effectiveness of providing mortgage insurance under the Federal Housing Administration (FHA) mortgage insurance program for mortgages for the acquisition or refinancing of 1- to 4-primary family residences that are financed in part through a shared equity arrangement under which independent, private sector investors invest, together with the mortgagors, equity funds for such residences and thereby share in their ownership. Requires the Secretary to select up to 8 financial institutions, nonprofit organizations, housing associations, investment pools, and other appropriate individuals and entities to participate in the pilot. Requires a mortgagor to: (1) make a downpayment of at least 3.5% of the appraised value of the residence involved; and (2) retain a minimum equity in the residence under the shared equity arrangement of at least 60%.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 September 2010

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 September 2010

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 29 September 2010

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.