H.R. 3141 · 116th Congress
FHA Loan Affordability Act of 2019
- Stage
- Reported from committee
- Sponsor
- Dean Phillips
- Introduced
- 2019-06-05
- Latest action
- 2019-11-12 · Reported (Amended) by the Committee on Financial Services. H. Rept. 116-282.
Summary
FHA Loan Affordability Act of 2019
This bill requires Federal Housing Administration mortgage borrowers to pay mortgage insurance premiums only when their remaining principal balance exceeds 78% or more of the home value or sales price. The bill applies only to mortgages insured after the bill's enactment.