A bill to provide that the interest rate on federally insured mortgages under section 203(b) of the National Housing Act shall be the rate charges for uninsured mortgages.

referredUnited States· United States Congress· EN

Introduced

1 April 1980

Last action

—

Status

Referred to House Committee on Veterans' Affairs.

Summary

Amends the National Housing Act to direct that, to be eligible for insurance under such Act, a mortgage shall bear interest at the rate charged by the mortgagee for a non- insured mortgage. Eliminates the requirement that the Secretary of Housing and Urban Development consult with the Administrator of Veterans' Affairs regarding the maximum interest rate which he or she deems necessary to meet the mortgage market for guaranteed or insured home loans to veterans.

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Documents

1 official file

Introduced in House
summary · EN · 1 April 1980
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/6993
Open data entity: https://api.congress.gov/v3/bill/96/hr/6993