[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1908 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1908

 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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 21, 2015

  Mrs. Beatty (for herself, Mr. Stivers, Mr. Hinojosa, Ms. Sewell of 
 Alabama, Mrs. Carolyn B. Maloney of New York, Ms. Moore, Ms. Edwards, 
    Mr. Conyers, Ms. Kelly of Illinois, Mr. Heck of Washington, Mr. 
Caardenas, Mrs. Watson Coleman, Mr. Al Green of Texas, Mr. Rangel, Ms. 
Hahn, Ms. Norton, Mr. Cummings, Mr. Fattah, Mr. David Scott of Georgia, 
Mr. Clay, Ms. Fudge, Ms. Kaptur, and Mr. Carson of Indiana) introduced 
 the following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Housing Financial Literacy Act of 
2015''.

SEC. 2. DISCOUNT ON MORTGAGE INSURANCE PREMIUM PAYMENTS FOR FIRST-TIME 
              HOMEBUYERS WHO COMPLETE FINANCIAL LITERACY HOUSING 
              COUNSELING PROGRAMS.

    The second sentence of subparagraph (A) of section 203(c)(2) of the 
National Housing Act (12 U.S.C. 1709(c)(2)(A)) is amended by striking 
``not exceed 2.75 percent of the amount of the original insured 
principal obligation of the mortgage'' and inserting ``be 25 basis 
points lower than the premium payment amount established by the 
Secretary under the first sentence of this subparagraph''.
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