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United States · Bill · S

S. 2177 (96th)

Emergency Home Purchase Assistance Authority Amendments of 1979

referredUnited States· United States Congress· EN

Introduced

20 December 1979

Last action

23 April 1980 · Introduced

Status

Referred to House Committee on Banking, Finance and Urban Affairs.

Sponsors

Sen. Williams, Harrison A., Jr. [D-NJ], Sen. Cranston, Alan [D-CA], Sen. Jackson, Henry M. [D-WA], Sen. Durkin, John A. [D-NH], Sen. Burdick, Quentin N. [D-ND], Sen. Stewart, Donald [D-AL], Sen. Hatfield, Mark O. [R-OR], Sen. Weicker, Lowell P., Jr. [R-CT], Sen. Heflin, Howell [D-AL], Sen. Hollings, Ernest F. [D-SC], Sen. Mathias, Charles McC., Jr. [R-MD], Sen. Bayh, Birch [D-IN], Sen. Magnuson, Warren G. [D-WA], Sen. Culver, John C. [D-IA], Sen. Nelson, Gaylord [D-WI], Sen. Levin, Carl [D-MI], Sen. Sasser, Jim [D-TN], Sen. McGovern, George [D-SD]

Subjects

Housing

Source updated

2 September 2025

Housing

Official sourceView documentsShare

Summary

Emergency Home Purchase Assistance Authority Amendments of 1979 - Amends the National Housing Act to remove the specific dollar limitations on the original principal obligation of a mortgage which may be purchased by the Government National Mortgage Association (GNMA) under the Emergency Home Purchase Assistance Act. Limits such purchasing authority to mortgages in an amount which would make a residence or project eligible for mortgage insurance under the applicable Federal insurance program. Permits such amounts to be raised by up to ten percent in high cost areas determined by the Secretary of Housing and Urban Development. Limits the sales price of a principal residence covered by a mortgage which may be purchased under the emergency authority of the GNMA to 105 percent of such maximum mortgage amount which may be raised an additional ten percent in high-cost areas. Eliminates the 7 1/2 percent interest rate limitation on mortgage loans eligible for purchase. Permits the Secretary to establish the maximum interest rate at a level consistent with market conditions provided it does not exceed the maximum rate on mortgages eligible for Federal insurance.

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

Timeline

  1. 20 December 1979

    Introduced

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

    Source: IntroReferral

  2. 20 December 1979

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 2 April 1980

    Reported

    Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 96-650.

    Source: Committee

  4. 2 April 1980

    Reported

    Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 96-650.

    Source: Committee

  5. 21 April 1980

    Floor

    Call of calendar in Senate.

    Source: Floor

  6. 22 April 1980

    Floor

    Measure considered in Senate.

    Source: Floor

  7. 22 April 1980

    Vote

    Passed/agreed to in Senate: Measure passed Senate, amended, roll call #82 (89-5).

    Source: Floor

  8. 23 April 1980

    Introduced

    Referred to House Committee on Banking, Finance and Urban Affairs.

    Source: IntroReferral

Votes

· Official source

Yes 0 · No 0 · Abstain — · Absent/not voting 0

    Versions

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

    Documents

    3 official files

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    • Passed Senate amended

      summary · EN · 22 April 1980

      Open at official source

    • Reported to Senate with amendment(s)

      summary · EN · 2 April 1980

      Open at official source

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    • Introduced in Senate

      summary · EN · 20 December 1979

      Open at official source

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    Sponsors

    Related records

    Sources

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