3.0.0 3511 2022-11-01T13:50:52Z 2022-11-01T13:50:52Z House HR 2019-06-26 116 [Congressional Record Volume 165, Number 108 (Wednesday, June 26, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. KAPTUR:H.R. 3511.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18:To make all Laws which shall be necessary and proper forcarrying into Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereof.[Page H5202]]]> hsba00 Financial Services Committee House Standing Referred to 2019-06-26T14:01:40Z 2019-06-26 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-06-26 Sponsor introductory remarks on measure. (CR H5197) IntroReferral B00100 9 Library of Congress 2019-06-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-06-26 Introduced in House IntroReferral 1000 9 Library of Congress K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 N C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2019-06-26 True A000378 Rep. Axne, Cynthia [D-IA-3] Cynthia Axne D IA 3 2019-06-26 True J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2019-06-26 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2019-07-11 False S001206 Rep. Shalala, Donna E. [D-FL-27] Donna Shalala D FL E. 27 2019-07-17 False S001175 Rep. Speier, Jackie [D-CA-14] Jackie Speier D CA 14 2019-07-17 False J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2019-08-02 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2019-08-23 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2019-08-23 False P000604 Rep. Payne, Donald M., Jr. [D-NJ-10] Donald Payne D NJ M. 10 2019-09-06 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2019-09-19 False C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2019-09-19 False Housing and Community Development Accounting and auditing Government studies and investigations Higher education Housing and community development funding Housing finance and home ownership Intergovernmental relations Student aid and college costs Housing and Community Development 00 2019-06-26 Introduced in House 2019-07-24T18:11:15Z Transforming Student Debt to Home Equity Act of 2019

This bill requires the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency to jointly establish and implement a pilot demonstration program to provide, to eligible applicants with federal student loan debt, assistance in purchasing eligible properties. Specifically, the program may provide for (1) discounts on the appraised value of eligible properties, (2) flexibility in certain underwriting standards, (3) the development of new mortgage products specifically targeted to eligible applicants, and (4) other appropriate assistance. The program must provide for the development of a program that uses actuarial information to determine how the repayment of federal student loans may be integrated into a mortgage repayment schedule to allow eligible applicants to accumulate home equity.

An "eligible property" is a property (1) that is designed as a dwelling for occupancy by one to four families; (2) that is safe and habitable; (3) the occupancy of which will promote community revitalization; and (4) that is owned by HUD, the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or a local land bank.

]]> Transforming Student Debt to Home Equity Act of 2019 Display Title Transforming Student Debt to Home Equity Act of 2019 Official Title as Introduced To direct the Secretary of the Department of Housing and Urban Development and the Director of the Federal Housing Finance Agency to develop a program to provide assistance to creditworthy borrowers with Federal student debt in purchasing certain foreclosed homes owned by the Federal Government, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and local land banks, and for other purposes. Introduced in House IH Short Title(s) as Introduced Transforming Student Debt to Home Equity Act of 2019 Introduced in House IH Introduced in House 2019-06-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr3511ih/xml/BILLS-116hr3511ih.xml 2019-06-26 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.