An amendment to prohibit any of the funds made available in the Act from being used to provide mortgage insurance under the National Housing Act (12 U.S.C. 1701 et seq.) for any mortgage or loan made by a lender that has been determined, by the Secretary of Housing and Urban Development, under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) to have engaged in lending practices that are not prudent.
What it does: Adds Sec. 948. None of the funds made available in this Act may be used to provide mortgage insurance under the National Housing Act (12 U.S.C. 1701 et seq.) for any mortgage or loan made by a lender that has been determined, by the Secretary of Housing and Urban Development, under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) to have engaged in lending practices that are not prudent at the end of the bill
Rep. Wm. Lacy Clay (D-MO)What it changes
1 change to H.R. 3058
We couldn't match these changes to the text of H.R. 3058, so they're shown as written.
Adds Sec. 948. None of the funds made available in this Act may be used to provide mortgage insurance under the National Housing Act (12 U.S.C. 1701 et seq.) for any mortgage or loan made by a lender that has been determined, by the Secretary of Housing and Urban Development, under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) to have engaged in lending practices that are not prudent at the end of the bill
Adds a sectionInserted: Sec. 948. None of the funds made available in this Act may be used to provide mortgage insurance under the National Housing Act (12 U.S.C. 1701 et seq.) for any mortgage or loan made by a lender that has been determined, by the Secretary of Housing and Urban Development, under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) to have engaged in lending practices that are not prudent.
Original wording
At the end of the bill (before the short title), insert the following:
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As printed
At the end of the bill (before the short title), insert the following:
Sec. 948. None of the funds made available in this Act may be used to provide mortgage insurance under the National Housing Act (12 U.S.C. 1701 et seq.) for any mortgage or loan made by a lender that has been determined, by the Secretary of Housing and Urban Development, under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) to have engaged in lending practices that are not prudent.
Legislative Activity
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House amendment offered
June 30, 2005
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House amendment offered
June 30, 2005
House amendment offered/reported by : Amendment (A043) offered by Mr. Clay.(consideration: CR H5526-5527; text: CR H5526)
June 30, 2005 • 4:26 PM
Amendment (A043) offered by Mr. Clay. (consideration: CR H5526-5527; text: CR H5526)
June 30, 2005 • 4:26 PM
By unanimous consent, the Clay amendment was withdrawn.
June 30, 2005 • 4:32 PM