3.0.0 1490 2023-01-11T13:49:04Z 2023-01-11T13:49:04Z Senate S 2021-04-29 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2021-04-29T19:16:34Z Housing Financial Literacy Act of 2021 117 1395 HR 2021-04-22 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2021-04-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2021-04-29 Introduced in Senate IntroReferral 10000 9 Library of Congress P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI N C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX 2021-04-29 True Housing and Community Development Finance and Financial Sector Financial literacy Housing finance and home ownership Life, casualty, property insurance Housing and Community Development 00 2021-04-29 Introduced in Senate 2021-09-30T16:28:41Z Housing Financial Literacy Act of 2021

This bill modifies the discount given by the Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who complete a financial-management counseling program. Under current law, the maximum premium amount for such homebuyers is 2.75% of the original insured principal obligation of the mortgage (compared to 3% for other homebuyers). The bill instead requires that the premium amount for such homebuyers be 25 basis points (0.25% of the original insured principal obligation of mortgage) lower than the amount otherwise established by the FHA. The bill also specifies that first-time homebuyers must complete the financial-management counseling program prior to applying for a mortgage or entering into a sales agreement.

]]> Housing Financial Literacy Act of 2021 Display Title Housing Financial Literacy Act of 2021 Official Title as Introduced A bill to require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program. Introduced in Senate IS Short Title(s) as Introduced Housing Financial Literacy Act of 2021 Introduced in Senate IS Introduced in Senate 2021-04-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1490is/xml/BILLS-117s1490is.xml 2021-04-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.