H.R. 6197 (96th): Emergency Home Purchase Assistance Authority Amendments of 1979

Introduced:
Dec 20, 1979 (96th Congress, 1979–1980)
Status:
Died (Referred to Committee)
See Instead:

S. 2177 (same title)
Passed Senate — Apr 22, 1980

H.R. 6952 (same title)
Referred to Committee — Mar 27, 1980

H.R. 6416 (same title)
Referred to Committee — Feb 05, 1980

Sponsor
Thomas Ashley
Representative for Ohio's 9th congressional district
Party
Democrat
Related Bills
S. 2177 (identical)

Passed Senate
Last Action: Apr 22, 1980

H.R. 6952 (identical)

Referred to Committee
Last Action: Mar 27, 1980

 
Status

This bill was introduced on December 20, 1979, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 20, 1979
Referred to Committee Dec 20, 1979
 
Full Title

A bill to amend the mortgage amount, sales price, and interest rate limitations under the Government National Mortgage Association emergency home purchase assistance authority, and for other purposes.

Summary

No summaries available.

Cosponsors
1 cosponsors (1D) (show)
Committees

House Financial Services

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


12/20/1979--Introduced.
Emergency Home Purchase Assistance Authority Amendments of 1979 - Amends the National Housing Act to remove the specific dollar limitations on the original principal obligation of a mortgage which may be purchased by the Government National Mortgage Association (GNMA) under the Emergency Home Purchase Assistance Act. Limits such purchasing authority to mortgages in an amount which would make a residence or project eligible for mortgage insurance under the applicable Federal insurance program.
Permits such amounts to be raised by up to ten percent in high cost areas determined by the Secretary of Housing and Urban Development. Limits the sales price of a principal residence covered by a mortgage which may be purchased under the emergency authority of the GNMA to 105 percent of such maximum mortgage amount which may be raised an additional 10 percent in high-cost areas.
Eliminates the 7 1/2 percent interest rate limitation on mortgage loans eligible for purchase.
Permits the Secretary to establish the maximum interest rate at a level consistent with market conditions provided it does not exceed the maximum rate on mortgages eligible for Federal insurance.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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