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  <plain-language-summary>This bill would reauthorize and reform downpayment assistance programs (DPA) for creditworthy home buyers, which include funds furnished directly or indirectly by the seller or any other party financially benefiting from the transaction.</plain-language-summary>
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  <session type="integer">111</session>
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  <summary>	1/16/2009--Introduced.FHA Seller-Financed Downpayment Reform Act of 2009 - Amends the National Housing Act to make exceptions to the prohibition against mortgage insurance for mortgages involving a downpayment using funds furnished by: (1) the seller or any party that benefits financially from the transaction (seller-financed downpayment); or (2) any third party that is reimbursed by the seller or any such party. Makes eligible for mortgage insurance, in spite of a seller-financed downpayment, any mortagors with credit scores equivalent to a FICO score of: (1) 680 or more; (2) at least 620 but less than 680; or (3) 619 or less. Prescribes conditions for mortgage insurance in the latter two situations.</summary>
  <topresident-date type="integer">1232082000</topresident-date>
  <topresident-datetime type="date">2009-01-16</topresident-datetime>
  <updated type="timestamp">Tue Oct 27 05:15:45 -0500 2009</updated>
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      <title>FHA Seller-Financed Downpayment Reform Act of 2009</title>
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      <title>To revise the requirements for seller-financed downpayments for mortgages for single-family housing insured by the Secretary of Housing and Urban Development under title II of the National Housing Act.</title>
      <title-type>official</title-type>
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      <title>FHA Seller-Financed Downpayment Reform Act of 2009</title>
      <title-type>popular</title-type>
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    <datetime type="timestamp">Fri Jan 16 00:00:00 -0600 2009</datetime>
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    <text>Referred to the House Committee on Financial Services.</text>
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