To rescind the unobligated funding for the FHA Refinance Program and to terminate the program.
FHA Refinance Program Termination Act - Rescinds and permanently cancels all unexpended funding remaining available and allocated for the Federal Housing Administration (FHA) Refinancing Program of the Making Home Affordable initiative of the Secretary of the Treasury (under which borrowers owing more on their mortgage than the value of their home are provided opportunities to refinance into a FHA loan). Terminates the program.
Requires all such unobligated balances so rescinded and permanently canceled to be retained in the general fund of the Treasury for reducing the debt of the federal government.
Directs the Secretary of Housing and Urban Development (HUD) to study: (1) the extent to which the FHA Refinancing Program is used by homeowners who are active duty members of the Armed Forces (or their spouses or parents), veterans, Gold Star-eligible widows, parents, or next of kin of Armed Forces members who died in military operations, or members or veterans with service-connected injuries (and their survivors and dependents); and (2) the impact of the program on such homeowners.
Directs the HUD Secretary to publish a statement on the HUD website as to: (1) termination of the FHA Short [sic] Refinance Program; and (2) the availability of a Member of Congress to assist any borrower having trouble paying a mortgage and needing help contacting the borrower's lender or servicer to negotiate or acquire a loan modification.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
DEBATE - Pursuant to the provisions of H.Res. 150, the Committee of the Whole proceeded with debate on the Loretta Sanchez amendment in the nature of a substitute number 15 under the five minute rule, pending reservation of a point of order.
DEBATE - Pursuant to the provisions of H. Res. 150, the Committee of the Whole proceeded with debate on the Inslee amendment number 14 under the five-minute rule, pending reservation of a point of order.
DEBATE - Pursuant to the provisions of H. Res. 150, the Committee of the Whole proceeded with debate on the Holt amendment number 8 under the five-minute rule, pending reservation of a point of order.
DEBATE - Pursuant to the provisions of H. Res. 150, the Committee of the Whole proceeded with debate on the Garamendi amendment number 7 under the five-minute rule, pending reservation of a point of order.
DEBATE - Pursuant to the provisions of H. Res. 150, the Committee of the Whole proceeded with debate on pro forma amendments under the five-minute rule.
DEBATE - Pursuant to the provisions of H. Res. 150, the Committee of the Whole proceeded with debate on the Waters amendment number 6, as modified, under the five-minute rule.
POSTPONED PROCEEDINGS - The Chair put the question on adoption of the Waters amendment and by voice vote, announced that the ayes had prevailed. Mrs. Biggert demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 830.
The previous question was ordered pursuant to the rule. (consideration: CR H1702)
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
Mr. Deutch moved to recommit with instructions to Financial Services. (consideration: CR H1702-1704; text: CR H1702)
DEBATE - The House proceeded with 10 minutes of debate on the Deutch motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments which provide a continuation of the provisions of the program for senior homeowners.
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H1703)
On motion to recommit with instructions Failed by recorded vote: 185 - 243 (Roll no. 170).
Roll Call #170 (House)Passed/agreed to in House: On passage Passed by recorded vote: 256 - 171 (Roll no. 171).
Roll Call #171 (House)On passage Passed by recorded vote: 256 - 171 (Roll no. 171).
Roll Call #171 (House)Motion to reconsider laid on the table Agreed to without objection.
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 830.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.