summary
Introduced
05/07/2020
05/07/2020
In Committee
05/07/2020
05/07/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A BILL To require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program. 1
AI Summary
This bill, the Housing Financial Literacy Act of 2020, requires the Secretary of Housing and Urban Development (HUD) to discount the Federal Housing Administration (FHA) single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program. Specifically, the bill amends the National Housing Act to establish a 25-basis point discount on mortgage insurance premium payments for the first 4 years after the bill's enactment, and a variable discount corresponding to the reduced risk of loss due to counseling after that period.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 05/07/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/3639/all-info |
| BillText | https://www.congress.gov/116/bills/s3639/BILLS-116s3639is.pdf |
| Bill | https://www.congress.gov/116/bills/s3639/BILLS-116s3639is.pdf.pdf |
Loading...