S. Amdt. 3853 - To Require a 12-Month Moratorium on the Implementation of Risk-Based Premiums for FHA Insured Mortgages.

FHA Modernization Act of 2007

S. 2338 — 110^th Congress (2007–2008)

Summary

An original bill to modernize and update the National Housing Act and enable the Federal Housing Administration to more effectively reach underserved borrowers, and for other purposes. (by CRS)

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Title

An original bill to modernize and update the National Housing Act and enable the Federal Housing Administration to more effectively reach underserved borrowers, and for other purposes.

Other Titles

• FHA Modernization Act of 2007
• Building American Homeownership Act of 2007
• FHA Manufactured Housing Loan Modernization Act of 2007
• FHA Modernization Act of 2007
• Building American Homeownership Act of 2007
• FHA Manufactured Housing Loan Modernization Act of 2007
• FHA Modernization Act of 2007
• Building American Homeownership Act of 2007
• FHA Manufactured Housing Loan Modernization Act of 2007

Sponsor

Christopher Dodd

Co-Sponsors

Subjects

• Housing
• Aged
• Budgets
• Condominium (Housing)
• Congress
• Congressional investigations
• Consumer credit
• Consumers
• Cooperative housing
• Counseling
• Department of Housing and Urban Development
• Energy
• Energy efficiency
• Executive departments
• Federal aid to housing
• Fees
• Finance
• Foreclosure
• Fraud
• Government trust funds
• Hawaii
• Home equity conversion
• Home ownership
• Homestead law
• Housing for the aged
• Indian housing
• Insurance premiums
• Minorities
• Mobile homes
• Mortgage guaranty insurance
• Mortgages
• Performance measurement
• Residential rehabilitation
• Secondary mortgage market
• Single family housing
• Social services

Related Bills

• H.R. 1752 (110^th) : Expanding American Homeownership Act of 2007
• H.R. 1852 (110^th) : Expanding American Homeownership Act of 2007
• S. 2325 (110^th) : Expanding American Homeownership Act of 2007
• S. 2734 (110^th) : SAFE Act

Major Actions

Introduced	9/19/2007
Referred to Committee
Amendments (2 proposed)
Passed Senate	12/14/2007

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
currently selected	Senate	Amendment SA 3853 agreed to in Senate by Unanimous Consent.	12/14/2007	PASSED by voice vote
select this vote	Senate	Amendment SA 3854 not agreed to in Senate by Voice Vote.	12/14/2007	DID NOT PASS by voice vote
select this vote	Senate	On Passage - Senate - S. 2338 as Amended	12/14/2007	This bill PASSED the Senate 93 voted YES 1 voted NO 6 voted present/not voting

	Action	Date	Description
	Introduced	11/13/2007
	Put on a legislative calendar	9/19/2007	Committee on Banking, Housing, and Urban Affairs ordered to be reported an original measure.
		11/13/2007	Sponsor introductory remarks on measure. (CR S14290-14291)
		11/13/2007	Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Reid for Senator Dodd. With written report No. 110-227. Additional views filed.
	Put on a legislative calendar	11/13/2007	Placed on Senate Legislative Calendar under General Orders. Calendar No. 481.
		12/14/2007	Measure laid before Senate by unanimous consent.
		12/14/2007	Message on Senate action sent to the House.
		12/14/2007	Amendment SA 3853 proposed by Senator Schumer for Senator Dodd.
currently selected	Vote	12/14/2007	Amendment SA 3853 agreed to in Senate by Unanimous Consent.
		12/14/2007	Amendment SA 3854 proposed by Senator Coburn.
select this vote	Vote	12/14/2007	Amendment SA 3854 not agreed to in Senate by Voice Vote.
select this vote	Senate Vote on Passage	12/14/2007	On Passage - Senate - S. 2338 as Amended
		12/17/2007	Received in the House.
		12/17/2007	Held at the desk.

	Number	Sponsor	Date Offered	Status
currently selected	S. Amdt. 3853	Dodd, Christopher [D-CT]	December 14, 2007	Passed by voice vote on December 14, 2007.
	To require a 12-month moratorium on the implementation of risk-based premiums for FHA insured mortgages. Actions December 14, 2007, 12:00 am ET - Amendment SA 3853 proposed by Senator Schumer for Senator Dodd. December 14, 2007, 12:00 am ET - Amendment SA 3853 agreed to in Senate by Unanimous Consent. Full Text of this Amendment SA 3853. Mr. SCHUMER (for Mr. DODD (for himself and Mr. SHELBY)) proposed an amendment to the bill S. 2338, to modernize and update the National Housing Act and enable the Federal Housing Administration to more effectively reach underserved borrowers, and for other purposes; as follows: At the end of title I, insert the following: SEC. 123. MORATORIUM ON IMPLEMENTATION OF RISK-BASED PREMIUMS. For the 12-month period beginning on the date of enactment of this Act, the Secretary of Housing and Urban Development shall not enact, execute, or take any action to make effective the planned implementation of risk-based premiums, which are designed for mortgage lenders to offer borrowers an FHA-insured product that provides a range of mortgage insurance premium pricing, based on the risk the insurance contract represents, as such planned implementation was set forth in the Notice published in the Federal Register on September 20, 2007 (Vol. 72, No. 182, Page 53872). (As printed in the Congressional Record for the Senate on Dec 14, 2007.)
select this vote	S. Amdt. 3854	Coburn, Thomas [R-OK]	December 14, 2007	Failed by voice vote on December 14, 2007.
	To ensure the cap on Home Equity Conversion Mortgages is not permanently eliminated before a study regarding program costs and credits is submitted to Congress. Show amendment details