H.R. 5072 - FHA Reform Act of 2010

FHA Reform Act of 2010

H.R. 5072 — 111^th Congress (2009–2010)

Summary

To improve the financial safety and soundness of the FHA mortgage insurance program. (by CRS)

Learn More

At OpenCongress

Title

To improve the financial safety and soundness of the FHA mortgage insurance program.

Other Titles

• FHA Reform Act of 2010
• FHA Reform Act of 2010

Sponsor

Maxine Waters

Co-Sponsors

• Shelley Capito
• Stephen Lynch
• Barney Frank
• Al Green
• Brad Sherman

Related Bills

• H.Res. 1424 (111^th) : Providing for Consideration of the Bill (H.R. 5072) to Improve the Financial Safety and Soundness of the FHA Mortgage Insurance Program, and Providing for Consideration of Motions to Suspend the Rules.

Major Actions

Introduced	4/20/2010
Referred to Committee
Amendments (14 proposed)
Passed House	6/10/2010

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
select this vote	House	Amendment 1 to H.R. 5072	6/10/2010	This amendment PASSED the House 417 voted YES 3 voted NO 17 voted present/not voting
select this vote	House	Amendment 5 to H.R. 5072	6/10/2010	This amendment DID NOT PASS the House 131 voted YES 289 voted NO 17 voted present/not voting
select this vote	House	Amendment 7 to H.R. 5072	6/10/2010	This amendment DID NOT PASS the House 106 voted YES 316 voted NO 15 voted present/not voting
select this vote	House	Amendment 9 to H.R. 5072	6/10/2010	This amendment DID NOT PASS the House 121 voted YES 301 voted NO 15 voted present/not voting
select this vote	House	Amendment 12 to H.R. 5072	6/10/2010	This amendment PASSED the House 420 voted YES 4 voted NO 13 voted present/not voting
select this vote	House	Amendment 13 to H.R. 5072	6/10/2010	This amendment PASSED the House 416 voted YES 0 voted NO 20 voted present/not voting
currently selected	House	On Passage - House - H.R. 5072 FHA Reform Act of 2010	6/10/2010	This bill PASSED the House 406 voted YES 4 voted NO 21 voted present/not voting
select this vote	House	On agreeing to the Cardoza amendment (A002) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Cao amendment (A003) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Bean amendment (A004) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Tierney amendment (A006) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Weiner amendment (A008) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Clarke amendment (A010) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Nye amendment (A011) Agreed to by voice vote.	6/10/2010	PASSED by voice vote
select this vote	House	On agreeing to the Frank (MA) amendment (A014) Agreed to by voice vote.	6/10/2010	PASSED by voice vote

	Action	Date	Description
	Introduced	4/20/2010
		4/20/2010	Referred to the House Committee on Financial Services.
		4/27/2010	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	4/27/2010	Ordered to be Reported (Amended) by Voice Vote.
		5/06/2010	Reported (Amended) by the Committee on Financial Services. H. Rept. 111-476.
	Put on a legislative calendar	5/06/2010	Placed on the Union Calendar, Calendar No. 270.
		6/08/2010	Rules Committee Resolution H. Res. 1424 Reported to House. Rule provides for consideration of H.R. 5072 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. Specified amendments are in order. The resolution waives all points of order against consideration of the bill except those arising under clause 9 or 10 of rule XXI. The resolution also provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services shall be considered as an original bill for the purpose of amendment.
		6/09/2010	Rule H. Res. 1424 passed House.
		6/09/2010	Considered under the provisions of rule H. Res. 1424.
		6/09/2010	Rule provides for consideration of H.R. 5072 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. Specified amendments are in order. The resolution waives all points of order against consideration of the bill except those arising under clause 9 or 10 of rule XXI. The resolution also provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services shall be considered as an original bill for the purpose of amendment.
		6/09/2010	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 1424 and Rule XVIII.
		6/09/2010	The Speaker designated the Honorable Deborah L. Halvorson to act as Chairwoman of the Committee.
		6/09/2010	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 5072.
		6/09/2010	Ms. Waters moved that the Committee rise.
		6/09/2010	On motion that the Committee rise Agreed to without objection.
		6/09/2010	Committee of the Whole House on the state of the Union rises leaving H.R. 5072 as unfinished business.
		6/10/2010	Considered as unfinished business.
		6/10/2010	The House resolved into Committee of the Whole House on the state of the Union for further consideration.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment.
		6/10/2010	POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Cardoza amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Cao amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Bean amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Garrett (NJ) amendment.
		6/10/2010	POSTPONED PROCEEDINGS - At the conclusion of debate on the Garrett (NJ) amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Garrett (NJ) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Tierney amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Price (GA) amendment.
		6/10/2010	POSTPONED PROCEEDINGS - At the conclusion of debate on the Price (GA) amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Price (GA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Weiner amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Turner amendment.
		6/10/2010	POSTPONED PROCEEDINGS - At the conclusion of debate on the Turner amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Turner demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Clarke amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Nye amendment.
		6/10/2010	DEBATE - Pursuant to the provisions of H.Res. 1424, the Committee of the Whole proceeded with 10 minutes of debate on the Edwards amendment.
		6/10/2010	POSTPONED PROCEEDINGS - At the conclusion of debate on the Edwards amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Edwards demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		6/10/2010	POSTPONED PROCEEDINGS - At the conclusion of debate on the Maffei amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Maffei demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
		6/10/2010	On agreeing to the Price (GA) amendment (A007) Roll Call 349 - Recorded vote pending.
		6/10/2010	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 5072.
		6/10/2010	The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
		6/10/2010	Mr. Lee (NY) moved to recommit with instructions to Financial Services.
		6/10/2010	DEBATE - The House proceeded with 10 minutes of debate on the Lee (NY) motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House with an amendment to add the following new sections: 1.) prohibit mortgage insurance for borrowers with strategic defaults; and 2.) prohibit bailout of FHA program with taxpayer dollars.
		6/10/2010	The previous question was ordered without objection.
		6/10/2010	On motion to recommit with instructions Agreed to by voice vote.
		6/10/2010	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. 5072.
		6/10/2010	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
select this vote	Vote	6/10/2010	Amendment 1 to H.R. 5072
select this vote	Vote	6/10/2010	Amendment 5 to H.R. 5072
select this vote	Vote	6/10/2010	Amendment 7 to H.R. 5072
select this vote	Vote	6/10/2010	Amendment 9 to H.R. 5072
select this vote	Vote	6/10/2010	Amendment 12 to H.R. 5072
select this vote	Vote	6/10/2010	Amendment 13 to H.R. 5072
currently selected	House Vote on Passage	6/10/2010	On Passage - House - H.R. 5072 FHA Reform Act of 2010
		6/10/2010	Amendment (A001) offered by Ms. Waters.
		6/10/2010	Amendment (A002) offered by Mr. Cardoza.
select this vote	Vote	6/10/2010	On agreeing to the Cardoza amendment (A002) Agreed to by voice vote.
		6/10/2010	Amendment (A003) offered by Mr. Cao.
select this vote	Vote	6/10/2010	On agreeing to the Cao amendment (A003) Agreed to by voice vote.
		6/10/2010	Amendment (A004) offered by Ms. Bean.
select this vote	Vote	6/10/2010	On agreeing to the Bean amendment (A004) Agreed to by voice vote.
		6/10/2010	Amendment (A005) offered by Mr. Garrett (NJ).
		6/10/2010	Amendment (A006) offered by Mr. Tierney.
select this vote	Vote	6/10/2010	On agreeing to the Tierney amendment (A006) Agreed to by voice vote.
		6/10/2010	Amendment (A007) offered by Mr. Price (GA).
		6/10/2010	Amendment (A008) offered by Mr. Weiner.
select this vote	Vote	6/10/2010	On agreeing to the Weiner amendment (A008) Agreed to by voice vote.
		6/10/2010	Amendment (A009) offered by Mr. Turner.
		6/10/2010	Amendment (A010) offered by Ms. Clarke.
select this vote	Vote	6/10/2010	On agreeing to the Clarke amendment (A010) Agreed to by voice vote.
		6/10/2010	Amendment (A011) offered by Mr. Nye.
select this vote	Vote	6/10/2010	On agreeing to the Nye amendment (A011) Agreed to by voice vote.
		6/10/2010	Amendment (A012) offered by Mr. Edwards (TX).
		6/10/2010	Amendment (A013) offered by Mr. Maffei.
		6/10/2010	Amendment (A014) offered by Mr. Frank (MA).
select this vote	Vote	6/10/2010	On agreeing to the Frank (MA) amendment (A014) Agreed to by voice vote.

	Number	Sponsor	Date Offered	Status
select this vote	H. Amdt. 680	Waters, Maxine [D-CA43]	June 10, 2010	Passed by roll call vote on June 10, 2010.
	An amendment numbered 1 printed in House Report 111-503 to provide for various technical corrections, make modifications to the GAO report in section 15 of the bill, provide that the Secretary may increase loan limits for micropolitan counties surrounded by higher cost areas and experiencing significant growth, and address documentation standards for FHA loans. Show amendment details
select this vote	H. Amdt. 681	Cardoza, Dennis [D-CA18]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 2 printed in House Report 111-503 to prioritize foreclosure counseling services to areas of the country that have been the hardest-hit by the housing crisis. Show amendment details
select this vote	H. Amdt. 682	Cao, Anh [R-LA2]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 3 printed in House Report 111-503 to include information about credit risk and financial counseling services to mortgagors in addition to the housing and loan modification information currently included in the bill. Show amendment details
select this vote	H. Amdt. 683	Bean, Melissa [D-IL8]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 4 printed in House Report 111-503 to require HUD to submit an annual report to Congress discussing proposed or actual increases in the minimum cash investment requirements (downpayment requirements) in the FHA program. It further gives HUD the authority to establish higher minimum cash investment requirements for all or class(es) of borrowers and requires HUD to take into consideration the findings of the annual report. Show amendment details
select this vote	H. Amdt. 684	Garrett, Scott [R-NJ5]	June 10, 2010	Failed by roll call vote on June 10, 2010.
	An amendment numbered 5 printed in House Report 111-503 to raise the FHA down payment requirement from 3.5% to 5% and prohibit closing costs from being rolled in as well. Show amendment details
select this vote	H. Amdt. 685	Tierney, John [D-MA6]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 6 printed in House Report 111-503 to direct 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; (2) authorize such sums as may be necessary for such refunds. Show amendment details
select this vote	H. Amdt. 686	Price, Tom [R-GA6]	June 10, 2010	Failed by roll call vote on June 10, 2010.
	An amendment numbered 7 printed in House Report 111-503 to cap the number of mortgages the FHA can issue to 10% of total loans originated in the U.S. each year. Within 90 days of enactment, FHA must submit a plan to Congress to roll back FHA market share to 10% of loans originated each year by 2012. Show amendment details
select this vote	H. Amdt. 687	Weiner, Anthony [D-NY9]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 8 printed in House Report 111-503 to increase loan limits for the construction or rehabilitation of multifamily housing with elevators including rentals, cooperatives, condominiums to ensure that they represent today's construction costs. Would create an `extremely high cost area' category for FHA Multifamily Insurance for those areas, similar to those in Alaska, Guam, Hawaii, and the Virgin Islands. Show amendment details
select this vote	H. Amdt. 688	Turner, Michael [R-OH10]	June 10, 2010	Failed by roll call vote on June 10, 2010.
	An amendment numbered 9 printed in House Report 111-503 to repeal the emergency authority that allows the FHA to insure loans up to $720,000 in certain high cost areas. The amendment would create a maximum loan limit of $500,000 for a single family unit and a percentage of the same ratio for 2-, 3- or 4-family residences. Show amendment details
select this vote	H. Amdt. 689	Clarke, Yvette [D-NY9]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 10 printed in House Report 111-503 to direct the GAO to include in its FHA report an analysis on the effectiveness of HUD's loss mitigation home retention options in assisting individuals, particularly low income borrowers, in avoiding home foreclosure for mortgages. Show amendment details
select this vote	H. Amdt. 690	Nye, Glenn [D-VA2]	June 10, 2010	Passed by voice vote on June 10, 2010.
	An amendment numbered 11 printed in House Report 111-503 to instruct the Federal Housing Administration to continue the Special Forbearance program, as it relates to Chinese Drywall, until the end of FY 2011. Show amendment details
select this vote	H. Amdt. 691	Edwards, Thomas [D-TX17]	June 10, 2010	Passed by roll call vote on June 10, 2010.
	An amendment numbered 12 printed in House Report 111-503 to require individuals to certify that they have not been convicted of a sex offense against a minor in order to get an FHA mortgage. Show amendment details
select this vote	H. Amdt. 692	Maffei, Daniel [D-NY24]	June 10, 2010	Passed by roll call vote on June 10, 2010.
	An amendment numbered 13 printed in House Report 111-503 to state that no funds authorized under the act may be used to pay the salary of an employee who has been officially disciplined for viewing, downloading, or exchanging pornography (including child pornography) on a Federal Government computer or while performing official Federal Government duties. Show amendment details
select this vote	H. Amdt. 693	Frank, Barney [D-MA4]	June 10, 2010	Passed by voice vote on June 10, 2010.
	Amendment information not available. Show amendment details