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United States · Bill · S

S. 1078 (95th)

A bill to amend section 245 of the National Housing Act to revise the experimental mortgage insurance program.

referredUnited States· United States Congress· EN

Introduced

22 March 1977

Last action

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Status

Referred to Senate Committee on Banking, Housing and Urban Affairs.

Sponsors

—

Subjects

Discovery layer

Source updated

14 January 2025

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Summary

Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to insure mortgages and loans at variable interest rates on a permanent basis. Permits allowable mortgage-to-value limits to be calculated on the basis of a principal obligation that may exceed the principal amount otherwise allowable, so long as the principal obligation does not exceed 97 percent of the appraised value of the property. Authorizes a limited preemption for mortgages insured pursuant to the graduated mortgage payment program from State interest restrictions.

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Documents

1 official file

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