To ensure competitiveness in procedures for approving applications for housing assistance and to provide for refinancing of mortgages, loans, and advances of credit under the lower income homeownership program of section 235 of the National Housing Act.
HUD Reform Act of 1989 - Amends the Housing and Community Development Act to reduce the Secretary of Housing and Urban Development's discretionary housing fund.
Requires the Secretary to approve housing assistance applications by means of competitive procedures.
Requires the Secretary to: (1) compile and make available to the public information regarding Department of Housing and Urban Development (HUD) assistance allocation and application approval or denial; and (2) report such information to the House of Representatives and the Senate.
Requires applicants to disclose consultant information.
Prohibits the use of HUD funds to lobby the Congress by HUD officials with regard to housing assistance.
Requires the Secretary to review lower income homeownership loans for possible refinancing.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
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