H.R. 1852 - The Expanding American Homeownership Act of 2007

The Expanding American Homeownership Act of 2007

H.R. 1852 — 110^th Congress (2007–2008)

Summary

This bill modernizes the rules of the Federal Housing Administration such that it provides risk-based pricing for low-to-moderate income families and other benefits to increase the number of loans taken from the Federal Housing Administration. (by CRS)

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Title

To modernize and update the National Housing Act and enable the Federal Housing Administration to use risk-based pricing to more effectively reach underserved borrowers, and for other purposes.

Other Titles

• Expanding American Homeownership Act of 2007
• Expanding American Homeownership Act of 2007
• Expanding American Homeownership Act of 2007

Sponsor

Maxine Waters

Co-Sponsors

• Edward Markey
• Donna Christensen
• Adam Schiff
• Anna Eshoo
• Barney Frank
• Bobby Rush
• Peter Welch
• Bob Etheridge
• Albio Sires
• William Jefferson
• James Moran
• Elijah Cummings
• Albert Wynn

Subjects

• Housing
• Administrative procedure
• Affordable housing
• Aged
• Apartment houses
• Budgets
• Children
• Condominium (Housing)
• Congress
• Congressional investigations
• Congressional reporting requirements
• Consumer credit
• Consumer education
• Consumers
• Cooperative housing
• Correspondent banks
• Counseling
• Day care
• Debtor and creditor
• Department of Housing and Urban Development
• Disaster relief
• Electronic data interchange
• Emergency management
• Executive departments
• Federal aid to housing
• Federal-local relations
• Federal-state relations
• Federally-guaranteed loans
• Finance
• Fines (Penalties)
• Foreclosure
• Government information
• Government paperwork
• Government trust funds
• Governmental investigations
• Hawaiians
• Home equity conversion
• Home ownership
• Housing finance
• Housing for the aged
• Identification devices
• Indian housing
• Indians
• Information technology
• Insurance premiums
• Law
• Loan defaults
• Low-income housing
• Minorities
• Mobile homes
• Mortgage banks
• Mortgage guaranty insurance
• Mortgages
• Prefabricated buildings
• Real estate appraisal
• Rental housing
• Residential rehabilitation
• Risk
• Settlement costs
• Single family housing
• Social services
• Standards
• State and local government
• Surety and fidelity
• Technology
• Telecommunication
• Welfare

Related Bills

• H.Res. 650 (110^th) : Providing for Consideration of the Bill (H.R. 1852) to Modernize and Update the National Housing Act and Enable the Federal Housing Administration to Use Risk-Based Pricing to More Effectively Reach Underserved Borrowers, and for Other Purposes.
• S. 2325 (110^th) : Expanding American Homeownership Act of 2007
• S. 2338 (110^th) : FHA Modernization Act of 2007

Major Actions

Introduced	3/29/2007
Referred to Committee
Amendments (7 proposed)
Passed House	9/18/2007

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
select this vote	House	On agreeing to the Cardoza amendment (A001) Agreed to by voice vote.	9/18/2007	PASSED by voice vote
select this vote	House	On agreeing to the Tierney amendment (A002) Agreed to by voice vote.	9/18/2007	PASSED by voice vote
select this vote	House	On agreeing to the Miller, Gary amendment (A003) Agreed to by voice vote.	9/18/2007	PASSED by voice vote
select this vote	House	On agreeing to the Bishop (NY) amendment (A004) Agreed to by voice vote.	9/18/2007	PASSED by voice vote
select this vote	House	On agreeing to the Tiberi amendment Agreed to by voice vote.	9/18/2007	PASSED by voice vote
select this vote	House	Amendment 5 to H.R. 1852	9/18/2007	This amendment DID NOT PASS the House 148 voted YES 280 voted NO 9 voted present/not voting
select this vote	House	Amendment 7 to H.R. 1852	9/18/2007	This amendment DID NOT PASS the House 175 voted YES 252 voted NO 10 voted present/not voting
currently selected	House	On Motion to Recommit with Instructions: H.R. 1852 Expanding American Homeownership Act of 2007	9/18/2007	This motion DID NOT PASS the House 209 voted YES 216 voted NO 8 voted present/not voting
select this vote	House	On Passage - House - H.R. 1852 Expanding American Homeownership Act of 2007	9/18/2007	This bill PASSED the House 348 voted YES 72 voted NO 12 voted present/not voting

	Action	Date	Description
	Introduced	3/29/2007
		3/29/2007	Referred to the House Committee on Financial Services.
		4/18/2007	Referred to the Subcommittee on Financial Institutions and Consumer Credit.
		4/19/2007	Subcommittee Hearings Held.
		4/24/2007	Sponsor introductory remarks on measure. (CR H4032)
		5/02/2007	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	5/03/2007	Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 19.
		6/28/2007	Reported (Amended) by the Committee on Financial Services. H. Rept. 110-217.
	Put on a legislative calendar	6/28/2007	Placed on the Union Calendar, Calendar No. 133.
		9/17/2007	PERMISSION TO FILE SUPPLEMENTAL REPORT - Mr. Al Green (TX) asked unanimous consent that the Committee on Financial Services may have permission to file a supplemental report on H.R. 1852. Agreed to without objection.
		9/17/2007	Supplemental report filed by the Committee on Financial Services, H. Rept. 110-217, Part II.
		9/17/2007	Rules Committee Resolution H. Res. 650 Reported to House. Rule provides for consideration of H.R. 1852 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
		9/18/2007	Rule H. Res. 650 passed House.
		9/18/2007	Considered under the provisions of rule H. Res. 650.
		9/18/2007	Rule provides for consideration of H.R. 1852 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
		9/18/2007	ORDER OF PROCEDURE - Mr. Frank (MA) asked unanimous consent that, during further consideration of H.R. 1852 in the Committee of the Whole, pursuant to H. Res. 650, amendment No. 2 may be offered out of order and by a cosponsor. Agreed to without objection.
		9/18/2007	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 650 and Rule XVIII.
		9/18/2007	The Speaker designated the Honorable Stephanie Tubbs Jones to act as Chairwoman of the Committee.
		9/18/2007	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1852.
select this vote	Vote	9/18/2007	On agreeing to the Cardoza amendment (A001) Agreed to by voice vote.
		9/18/2007	Amendment (A002) offered by Mr. Tierney.
		9/18/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Tierney amendment.
select this vote	Vote	9/18/2007	On agreeing to the Tierney amendment (A002) Agreed to by voice vote.
		9/18/2007	Amendment (A003) offered by Mr. Miller, Gary.
		9/18/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Gary Miller of California amendment.
select this vote	Vote	9/18/2007	On agreeing to the Miller, Gary amendment (A003) Agreed to by voice vote.
		9/18/2007	Amendment (A004) offered by Mr. Bishop (NY).
		9/18/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Bishop (NY) amendment.
select this vote	Vote	9/18/2007	On agreeing to the Bishop (NY) amendment (A004) Agreed to by voice vote.
		9/18/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling amendment.
		9/18/2007	Amendment (A005) offered by Mr. Hensarling.
		9/18/2007	POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hensarling demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		9/18/2007	Amendment (A006) offered by Mr. Tiberi.
		9/18/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Tiberi amendment.
select this vote	Vote	9/18/2007	On agreeing to the Tiberi amendment Agreed to by voice vote.
		9/18/2007	Amendment (A007) in the nature of a substitute offered by Mrs. Biggert.
		9/18/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 20 minutes of debate on the Biggert amendment in the nature of a substitute.
		9/18/2007	POSTPONED PROCEEDINGS - At the conclusion of debate on the Biggert amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Biggert demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		9/18/2007	UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which were debated earlier and on which further proceedings were postponed.
		9/18/2007	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1852.
		9/18/2007	The previous question was ordered pursuant to the rule.
		9/18/2007	The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
		9/18/2007	Mr. Price (GA) moved to recommit with instructions to Financial Services.
		9/18/2007	DEBATE - The House proceeded with 10 minutes of debate on the Price(GA) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to clarify the identification individuals need to obtain affordable housing funds.
		9/18/2007	The previous question on the motion to recommit with instructions was ordered without objection.
		9/18/2007	The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1852.
select this vote	Vote	9/18/2007	Amendment 5 to H.R. 1852
select this vote	Vote	9/18/2007	Amendment 7 to H.R. 1852
currently selected	Vote	9/18/2007	On Motion to Recommit with Instructions: H.R. 1852 Expanding American Homeownership Act of 2007
select this vote	House Vote on Passage	9/18/2007	On Passage - House - H.R. 1852 Expanding American Homeownership Act of 2007
		9/19/2007	DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Cardoza amendment.
		9/19/2007	Amendment (A001) offered by Mr. Cardoza.
		9/19/2007	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

	Number	Sponsor	Date Offered	Status
select this vote	H. Amdt. 794	Cardoza, Dennis [D-CA18]	September 18, 2007	Passed by voice vote on September 18, 2007.
	Amendment raises the FHA single family loan limit, by establishing such limit in each area as the lower of (a) 125% of the local median area home price or (b) 175% of the national GSE conforming loan limit; retains the FHA loan floor provision in the reported bill of 65% of the GSE conforming loan limit; and also gives HUD authority to raise these resulting loan limit amounts by up to $100,000 by area and/or by unit size "if market conditions warrant.". Show amendment details
select this vote	H. Amdt. 795	Tierney, John [D-MA6]	September 18, 2007	Passed by voice vote on September 18, 2007.
	Amendment directs the Secretary of the Department of Housing and Urban Development to provide mortgage insurance premium refunds to eligible borrowers of FHA insured loans, which were closed prior to December 8, 2004, but which were not endorsed until December 8, 2004 or after that date, and authorizes such sums as may be necessary for such refunds. Show amendment details
select this vote	H. Amdt. 796	Miller, Gary [R-CA42]	September 18, 2007	Passed by voice vote on September 18, 2007.
	Amendment allows qualified down payment assistance providers to participate in the FHA program if certain conditions are satisfied to ensure that the down payment assistance program is legitimate and that the gift that is provided to the homeowner and the home buyer is truly a gift. Show amendment details
select this vote	H. Amdt. 797	Bishop, Timothy [D-NY1]	September 18, 2007	Passed by voice vote on September 18, 2007.
	Amendment clarifies requirements on reverse mortgages for seniors who own permanent foundation homes on leased land. Show amendment details
select this vote	H. Amdt. 798	Hensarling, Jeb [R-TX5]	September 18, 2007	Failed by roll call vote on September 18, 2007.
	Amendment sought to remove the funding mechanism in the bill for the Affordable Housing Fund. Show amendment details
select this vote	H. Amdt. 799	Tiberi, Patrick [R-OH12]	September 18, 2007	Passed by voice vote on September 18, 2007.
	Amendment requires the Secretary of Housing and Urban Development to ensure high-risk borrowers and borrowers who are applying for zero down-payment loans to receive housing counsel. Show amendment details
select this vote	H. Amdt. 800	Biggert, Judy [R-IL13]	September 18, 2007	Failed by roll call vote on September 18, 2007.
	Amendment in the nature of a substitute sought to replace the language in the bill with the text of H.R. 5121, the Expanding American Homeownership Act of 2006, which passed the House on July 25, 2006. Show amendment details