Housing Financial Literacy Act of 2021
- Last Action
- 4/22/2021
Actions
- 2021-04-22Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2021-04-20Pursuant to section 6 of H. Res. 330, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 367; H.R. 370; H.R. 396; H.R. 397, as amended; H.R. 408; H.R. 490; H.R. 965, as amended; H.R. 1251, as amended; H.R. 1395; H.R. 1491; H.R. 1528; H.R. 1532; H.R. 1565; H.R. 1602; and H.R. 2523, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 124, as amended. (consideration: CR H1979-1994; text: CR H1988)
- 2021-04-20Passed/agreed to in House: Pursuant to section 6 of H. Res. 330, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 367; H.R. 370; H.R. 396; H.R. 397, as amended; H.R. 408; H.R. 490; H.R. 965, as amended; H.R. 1251, as amended; H.R. 1395; H.R. 1491; H.R. 1528; H.R. 1532; H.R. 1565; H.R. 1602; and H.R. 2523, as amended; and the following resolution was agreed to under suspension of the rules: H. Res. 124, as amended.(consideration: CR H1979-1994; text: CR H1988)
- 2021-04-20Pursuant to the provisions of H. Res. 330, proceedings on H.R. 1395 are considered vacated.
- 2021-04-19At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- 2021-04-19DEBATE - The House proceeded with forty minutes of debate on H.R. 1395.
- 2021-04-19Considered under suspension of the rules. (consideration: CR H1909-1910; text: CR H1909)
- 2021-04-19Ms. Pressley moved to suspend the rules and pass the bill.
- 2021-02-26Referred to the House Committee on Financial Services.
- 2021-02-26Introduced in House
- 2021-02-26Introduced in House
CRS Summary
As of 2021-04-20 (53)
Housing Financial Literacy Act of 2021
This bill modifies the discount given by the Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who complete a financial-management counseling program. Under current law, the maximum premium amount for such homebuyers is 2.75% of the original insured principal obligation of the mortgage (compared to 3% for other homebuyers). The bill instead requires that the premium amount for such homebuyers be 25 basis points (0.25% of the original insured principal obligation of mortgage) lower than the amount otherwise established by the FHA. The bill also specifies that first-time homebuyers must complete the financial-management counseling program prior to applying for a mortgage or entering into a sales agreement.
Cosponsors (2)
- Steve Stivers (R-OH)
- Nikema Williams (D-GA)
Subjects
- Financial literacy
- Housing finance and home ownership
- Life, casualty, property insurance
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.