An amendment numbered 12 printed in the Congressional Record to modify the bill's required study by the Housing and Urban Development Department on the FHA Refinance Program's use by, and effects on, certain homeowners to include a study on the need and appropriate guidelines for a replacement mortgage insurance program.
What it does: 8 changes: inserts text in 8 places
Rep. Jay Inslee (D-WA)Description
Amendment sought to modify the bill's required study by the Housing and Urban Development Department on the FHA Refinance Program's use by, and effects on, certain homeowners to include a study on the need and appropriate guidelines for a replacement mortgage insurance program.
What it changes
8 changes to H.R. 830 · 3 shown in the bill's text
Change 1: Inserts “and Replacement Program” before the period at the end
Inserted: and Replacement Program
Original wording
Page 6, line 16, before the period insert “and Replacement Program”.
Change 2: Inserts “(A)” before “the extent”
In H.R. 830 · Reported in House
(d) Study of Use of Program by Members of the Armed Forces, Veterans, and Gold Star Recipients.--
(1) Study.--The Secretary of Housing and Urban Development shall conduct a study to determine [inserted: (A) ]the extent of usage of the FHA Refinance Program referred to in section 2 by, and the impact of such program on, covered homeowners.
(2) Report.--Not later than the expiration of the 90-day period beginning on the date of the enactment of this Act, the Secretary shall submit to the Congress a report setting forth the results of the study under paragraph (1) and identifying best practices, with respect to covered homeowners, that could be applied to the FHA Refinance Program.
Original wording
Page 6, line 19, before “the extent” insert “(A)”.
Change 3: Inserts “, including” after “section 2”
…section 2[inserted: , including]…
Original wording
Page 6, line 20, after “section 2” insert “, including”.
Change 4: Inserts “, and (B) the need, and appropriate guidelines and standards for, a mortgage insurance pr…” before the period at the end
Inserted: , and (B) the need, and appropriate guidelines and standards for, a mortgage insurance program of the Secretary that (i) provides for loan modification involving a write-down of the remaining principal balance on existing mortgages on 1- to 4-family residences under which such principal balance exceeds the appraised value of the mortgaged residence, and (ii) serves the needs of covered homeowners with such mortgages
Original wording
Page 6, line 21, before the period insert the following: “, and (B) the need, and appropriate guidelines and standards for, a mortgage insurance program of the Secretary that (i) provides for loan modification involving a write-down of the remaining principal balance on existing mortgages on 1- to 4-family residences under which such principal balance exceeds the appraised value of the mortgaged residence, and (ii) serves the needs of covered homeowners with such mortgages”.
Change 5: Inserts “, setting forth the Secretary's determination of the need for, and the appropriate guidel…” after “paragraph (1)”
In H.R. 830 · Reported in House
(1) Study.--The Secretary of Housing and Urban Development shall conduct a study to determine the extent of usage of the FHA Refinance Program referred to in section 2 by, and the impact of such program on, covered homeowners.
(2) Report.--Not later than the expiration of the 90-day period beginning on the date of the enactment of this Act, the Secretary shall submit to the Congress a report setting forth the results of the study under paragraph (1)
[struck: ][inserted: , setting forth the Secretary's determination of the need for, ]and [inserted: the appropriate guidelines and standards for, the mortgage insurance program determined pursuant to paragraph (1)(B), and ]identifying best practices, with respect to covered homeowners, that could be applied to the FHA Refinance Program.(3) Covered homeowner.--For purposes of this subsection, the term "covered homeowner" means a homeowner who is--
Original wording
Page 7, line 1, after “paragraph (1)” insert the following: “, setting forth the Secretary's determination of the need for, and the appropriate guidelines and standards for, the mortgage insurance program determined pursuant to paragraph (1)(B),”.
Change 6: Inserts “including” after “best practices,”
In H.R. 830 · Reported in House
(1) Study.--The Secretary of Housing and Urban Development shall conduct a study to determine the extent of usage of the FHA Refinance Program referred to in section 2 by, and the impact of such program on, covered homeowners.
(2) Report.--Not later than the expiration of the 90-day period beginning on the date of the enactment of this Act, the Secretary shall submit to the Congress a report setting forth the results of the study under paragraph (1) and identifying best practices, [inserted: including ]with respect to covered homeowners, that could be applied to the FHA Refinance Program.
(3) Covered homeowner.--For purposes of this subsection, the term "covered homeowner" means a homeowner who is--
Original wording
Page 7, line 1, after “best practices,” insert “including”.
Change 7: Inserts “and to the mortgage insurance program identified and described pursuant to paragraph (1)(…” before the period at the end
Inserted: and to the mortgage insurance program identified and described pursuant to paragraph (1)(B)
Original wording
Page 7, line 3, before the period insert the following: “and to the mortgage insurance program identified and described pursuant to paragraph (1)(B)”.
Change 8: Inserts new text on page 7, line 17
InsertsPrinted pageInserted: (4) Implementation.--Upon the expiration of the 90-day period beginning upon the submission to the Congress of the report required under paragraph (2), the Secretary of Housing and Urban Development shall implement the mortgage insurance program described in such report pursuant to paragraph (1)(B) through issuance of appropriate guidelines and standards set forth in the report.
Original wording
Page 7, after line 17, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
Page 6, line 16, before the period insert “and Replacement Program”.
Page 6, line 19, before “the extent” insert “(A)”.
Page 6, line 20, after “section 2” insert “, including”.
Page 6, line 21, before the period insert the following: “, and (B) the need, and appropriate guidelines and standards for, a mortgage insurance program of the Secretary that (i) provides for loan modification involving a write-down of the remaining principal balance on existing mortgages on 1- to 4-family residences under which such principal balance exceeds the appraised value of the mortgaged residence, and (ii) serves the needs of covered homeowners with such mortgages”.
Page 7, line 1, after “paragraph (1)” insert the following: “, setting forth the Secretary's determination of the need for, and the appropriate guidelines and standards for, the mortgage insurance program determined pursuant to paragraph (1)(B),”.
Page 7, line 1, after “best practices,” insert “including”.
Page 7, line 3, before the period insert the following: “and to the mortgage insurance program identified and described pursuant to paragraph (1)(B)”.
Page 7, after line 17, add the following:
(4) Implementation.--Upon the expiration of the 90-day period beginning upon the submission to the Congress of the report required under paragraph (2), the Secretary of Housing and Urban Development shall implement the mortgage insurance program described in such report pursuant to paragraph (1)(B) through issuance of appropriate guidelines and standards set forth in the report.
Legislative Activity
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House amendment offered
March 10, 2011
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House amendment offered
March 10, 2011
House amendment offered/reported by: Amendment (A005) offered by Mr. Inslee.(consideration: CR H1693; text: CR H1693)
March 10, 2011 • 2:19 PM
Amendment (A005) offered by Mr. Inslee. (consideration: CR H1693; text: CR H1693)
March 10, 2011 • 2:19 PM
Mrs. Biggert raised a point of order against the Inslee amendment (A005). Mrs. Biggert stated that the amendment was not germane. The Chair sustained the point of order.
March 10, 2011 • 2:23 PM