U.S. Congress - H.R.3146 21 Century FHA Housing Act of 2009
H.R.3146 - 21 Century FHA Housing Act of 2009
To make improvements to the FHA mortgage insurance programs of the Department of Housing and Urban Development, and for other purposes. view all titles (4)
All Bill Titles
- Official: To make improvements to the FHA mortgage insurance programs of the Department of Housing and Urban Development, and for other purposes. as introduced.
- Short: 21 Century FHA Housing Act of 2009 as introduced.
- Short: 21st Century FHA Housing Act of 2009'. as passed house.
- Short: 21st Century FHA Housing Act of 2009 as passed house.
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Official Summary
9/15/2009--Passed House amended. 21st Century FHA Housing Act of 2009 - (Sec. 2) Amends the National Housing Act to declare that the Secretary of Housing and Urban Affairs (HUD) is not subject to the National Environmental Policy Act of 1969 when insuring any mortgage for a one-family unitOfficial Summary
9/15/2009--Passed House amended. 21st Century FHA Housing Act of 2009 -(Sec. 2)
Amends the National Housing Act to declare that the Secretary of Housing and Urban Affairs (HUD) is not subject to the National Environmental Policy Act of 1969 when insuring any mortgage for a one-family unit in a multifamily project that holds an undivided interest in the common areas and facilities which serve the project (condominium).(Sec. 4)
Authorizes the Secretary to:(1) appoint and fix the compensation of HUD personnel; and
(2) use certain funds to maintain an appropriate level of investment in information technology in order to upgrade HUD technology systems used in carrying out personnel-related functions. Sets a cap upon the use of premium-generated income for such upgrades, subject to approval in advance in an appropriation Act.
(Sec. 5)
Requires the Secretary to:(1) establish a comprehensive training and education program to improve certain HUD services to users of Federal Housing Administration (FHA) mortgage insurance programs; and
(2) conduct an ongoing review of delinquencies among recent single family housing mortgage originations; and
(3) make available to certain congressional committees any information and conclusions pursuant to such review of delinquencies. Amends the Helping Families Save Their Homes Act of 2009 to direct the Secretary to implement procedures that analyze mortgage performance during the mandatory random review of mortgagees on one- to four-family residences who potentially present a high risk to the Mutual Mortgage Insurance Fund.
(Sec. 6)
Expresses the sense of Congress that the Secretary of the Treasury, the Secretary of HUD, and the Director of the Federal Housing Finance Agency (FHFA) should use their statutory and regulatory authorities to provide financial assistance to facilitate increased warehouse credit capacity by qualified warehouse lenders. Urges that such assistance:(1) be used only to expand the amount of credit or lending capacity made available to qualified mortgage lenders by qualified warehouse lenders in order to fund residential mortgage loans; and
(2) be provided in a manner which might include direct loans, guarantees, credit enhancement, and other incentives.
(Sec. 7)
Amends the National Housing Act to authorize the Secretary to implement alternative insured mortgage foreclosure avoidance demonstration programs, including methods involving short sales and deeds in lieu of foreclosure, and partial or full payment of insurance benefits to the mortgagee....Read the Rest
Recent News Coverage
RE: H.R.3146
HR 3146, the 21st Century FHA Housing Act of 2009, is a response to fears that increased demand for FHA-backed loans is taxing the FHA's capabilities to ...
House Meets At... 10:30 am: Morning Hour
Shuler - Agriculture) HR 3146 - 21 Century FHA Housing Act of 2009 (Rep. Adler - Financial Services) HR 2947 - Securities Law Technical Corrections Act of ...
This Week in Congress
21 Century FHA Housing Act (HR 3146) - Aims to improve to FHA mortgage insurance programs through information technology upgrades and training programs, ...
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