3.0.0 6256 2023-01-11T13:21:32Z 2023-01-11T13:21:32Z House H HR 2010-09-29 111 hsba00 Financial Services Committee House Standing Referred to 2010-09-29T14:11:50Z 2010-09-29 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-09-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-09-29 Introduced in House IntroReferral 1000 9 Library of Congress M001139 Rep. Miller, Gary G. [R-CA-42] GARY MILLER R CA 42 N Housing and Community Development Government lending and loan guarantees Housing finance and home ownership Housing and Community Development 00 2010-09-29 Introduced in House 2011-01-25T20:30:57Z Strengthening FHA Through Shared Equity Homeownership Act of 2010 - Directs the Secretary of Housing and Urban Development (HUD) to carry out a shared equity homeownership pilot program to analyze the effectiveness of providing mortgage insurance under the Federal Housing Administration (FHA) mortgage insurance program for mortgages for the acquisition or refinancing of 1- to 4-primary family residences that are financed in part through a shared equity arrangement under which independent, private sector investors invest, together with the mortgagors, equity funds for such residences and thereby share in their ownership.

Requires the Secretary to select up to 8 financial institutions, nonprofit organizations, housing associations, investment pools, and other appropriate individuals and entities to participate in the pilot.

Requires a mortgagor to: (1) make a downpayment of at least 3.5% of the appraised value of the residence involved; and (2) retain a minimum equity in the residence under the shared equity arrangement of at least 60%.

]]> Strengthening FHA Through Shared Equity Homeownership Act of 2010 Display Title Strengthening FHA Through Shared Equity Homeownership Act of 2010 Official Title as Introduced To establish a shared equity homeownership pilot program for FHA mortgage insurance. Introduced in House IH Short Titles as Introduced Strengthening FHA Through Shared Equity Homeownership Act of 2010 Introduced in House 2010-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr6256ih/xml/BILLS-111hr6256ih.xml 2010-09-29 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.