3.0.0 587 2021-07-10T17:38:20Z 2021-07-10T17:38:20Z House H HR 2009-01-15 111 hsba00 Financial Services Committee House Standing Referred to 2009-01-15T15:05:42Z H. Rept. 111-185 2009-01-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-01-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-01-15 Introduced in House IntroReferral 1000 9 Library of Congress M001139 Rep. Miller, Gary G. [R-CA-42] GARY MILLER R CA 42 N C000059 Rep. Calvert, Ken [R-CA-44] KEN CALVERT R CA 44 2009-02-02 False D000492 Rep. Dreier, David [R-CA-26] DAVID DREIER R CA 26 2009-02-13 False Housing and Community Development Housing finance and home ownership Housing and Community Development 00 2009-01-15 Introduced in House 2009-04-03T21:05:59Z Increases the loan limits during calendar 2009 for: (1) the Federal Housing Administration (FHA) single family housing mortgage insurance programs and the reverse mortgage program; and (2) the conforming loan limits for Fannie Mae and Freddie Mac during 2009.

Declares that, if the dollar amount limitation on the principal obligation of a mortgage for which the mortgagee issues credit approval during 2009 for any size residence for any area is less than the dollar amount limitation in effect for 2008 under the Economic Stimulus Act of 2008, the maximum dollar amount limitation on the principal obligation of such a mortgage shall be considered to be the dollar amount limitation in effect for 2008.

Declares that, if the conforming loan limitation on the maximum original principal obligation of a mortgage originated during 2009 that may purchased by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) for any size residence for any area is less than the maximum original principal obligation limitation in effect for 2008 under the Economic Stimulus Act of 2008, the conforming loan limitation shall be the maximum in effect for 2008.

Declares that, for a home equity conversion mortgage (reverse mortgage) for which the mortgagee issues credit approval during 2009, the maximum dollar amount limitation on mortgage insurance benefits shall be considered to require that in no case may such benefits exceed 150% of the limitation on the maximum original principal obligation in effect for conventional mortgages under the Federal Home Loan Mortgage Corporation Act.

]]> To increase the loan limits for the FHA single family housing mortgage insurance programs and reverse mortgage program and for the conforming loan limits for Fannie Mae and Freddie Mac during 2009. Display Title To increase the loan limits for the FHA single family housing mortgage insurance programs and reverse mortgage program and for the conforming loan limits for Fannie Mae and Freddie Mac during 2009. Official Title as Introduced To increase the loan limits for the FHA single family housing mortgage insurance programs and reverse mortgage program and for the conforming loan limits for Fannie Mae and Freddie Mac during 2009. Introduced in House 2009-01-15T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr587ih/xml/BILLS-111hr587ih.xml 2009-01-15 Referred to the House Committee on Financial Services. 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.