S. 469: A bill to assist the Secretary of Housing and Urban Development in stabilizing the Home Equity Conversion Mortgage program.

Introduced:
Mar 06, 2013 (113th Congress, 2013–2015)
Sponsor:
Sen. Robert “Bob” Menéndez [D-NJ]
Status:
Referred to Committee

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was assigned to a congressional committee on March 6, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Mar 06, 2013
Referred to Committee Mar 06, 2013
Reported by Committee ...
Passed Senate ...
Passed House ...
Signed by the President ...
Prognosis

4% chance of getting past committee.
0% chance of being enacted.

Only 12% of Senate bills made it past committee and only 2% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
1 cosponsors (1D) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Mar 06, 2013.
2 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/6/2013--Introduced.
Amends the National Housing Act to require that, to be eligible for insurance under the Home Equity Conversion Mortgage program for elderly homeowners, a mortgage contain terms and provisions with respect to property maintenance as well as for establishing escrow accounts, performing financial assessments, or limiting the amount of any payment made available under the mortgage.
Authorizes the Secretary of Housing and Urban Development (HUD) to establish any additional or alternative requirements necessary to more effectively carry out such Act.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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