3.0.0 2750 2023-01-13T04:48:00Z 2023-01-13T04:48:00Z House H HR 2005-06-07 109 hsba00 Financial Services Committee House Standing hsba04 Housing and Insurance Subcommittee Referred to 2005-07-29T16:20:11Z Referred to 2005-06-07T18:00:05Z Rural Housing Opportunity and Enhancement Act of 2005 109 2656 HR 2005-06-17 Referred to the Subcommittee on Housing and Community Opportunity. Identical bill CRS 2005-07-29 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Housing and Community Opportunity. Committee 2005-06-07 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-06-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-06-07 Introduced in House IntroReferral 1000 9 Library of Congress A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 N Housing and Community Development Administrative fees Administrative procedure Consumer credit Department of Agriculture Economics and Public Finance Federally-guaranteed loans Finance and Financial Sector Government Operations and Politics Government lending Government paperwork Housing finance Law Low-income housing Moderate income housing Mortgage guaranty insurance Mortgages Rural housing Settlement costs Single family housing Social Welfare Housing and Community Development 00 2005-06-07 Introduced in House 2005-06-28T21:29:11Z Rural Housing Opportunity and Enhancement Act of 2005 - Amends the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Act of the Housing Act of 1949 with respect to the single family rural housing loan guarantee program to: (1) eliminate low and moderate income eligibility requirements; (2) reduce maximum guarantee fees paid by lenders; and (3) require any regulation limiting borrower eligibility based upon the borrower's debt-income ratio to provide for a higher income-to-debt ratio for newly-constructed property loans.

Revises refinancing loan guarantee provisions to: (1) authorize a specified lender guarantee fee; (2) permit a guarantee to acquire or construct an eligible single-family residence; (3) amend closing cost provisions; (4) eliminate income requirements; (5) prohibit that an appraisal credit report be required in connection with the loan, or that the residence be in a rural area for an existing loan; and (6) require that the borrower is not delinquent with respect to existing loan payments, and that monthly refinance payments be at least $50 less than existing monthly payments.

Requires agricultural housing loans to be recorded as Department of Agriculture, rather than conventional, loans.

Revises the definition of "rural area."

Increases direct loan income limitations.

]]> Rural Housing Opportunity and Enhancement Act of 2005 Display Title Rural Housing Opportunity and Enhancement Act of 2005 Official Title as Introduced To amend section 502(h) of the Housing Act of 1949 to improve the rural housing loan guarantee program, and for other purposes. Introduced in House IH Short Titles as Introduced Rural Housing Opportunity and Enhancement Act of 2005 Introduced in House 2005-06-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr2750ih/xml/BILLS-109hr2750ih.xml 2005-07-29 Referred to the Subcommittee on Housing and Community Opportunity. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.