An amendment numbered 5 printed in the Congressional Record to direct the Housing and Urban Development Department, in consultation with the Treasury Department, to conduct a study on the negative impacts of underwater mortgage loans on the housing market and economy of the United States and to report on the findings.
What it does: Adds SEC. 4. STUDY ON IMPACTS REQUIRED at the end of the bill
Rep. Maxine Waters (D-CA)Description
Amendment sought to direct the Housing and Urban Development Department, in consultation with the Treasury Department, to conduct a study on the negative impacts of underwater mortgage loans on the housing market and economy of the United States and to report on the findings.
What it changes
1 change to H.R. 830
We couldn't match these changes to the text of H.R. 830, so they're shown as written.
Adds SEC. 4. STUDY ON IMPACTS REQUIRED at the end of the bill
Adds a sectionInserted: SEC. 4. STUDY ON IMPACTS REQUIRED.
Inserted: (a) In General.--Not later than 30 days after the date of the enactment of this Act, the Secretary of Housing and Urban Development shall, in consultation with the Secretary of the Treasury, conduct a study on the negative impacts of underwater mortgage loans on the housing market and the economy of the United States and report to the Congress on the findings of such study, including recommendations to the Congress on how to mitigate such impacts.
Inserted: (b) Underwater Mortgage Defined.--For purposes of this section, the term "underwater mortgage" means a mortgage loan on an owner-occupied residential property that has an appraised value that is less than the outstanding obligation under such mortgage loan.
Original wording
At the end of the bill, add the following new section:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
At the end of the bill, add the following new section:
SEC. 4. STUDY ON IMPACTS REQUIRED.
(a) In General.--Not later than 30 days after the date of the enactment of this Act, the Secretary of Housing and Urban Development shall, in consultation with the Secretary of the Treasury, conduct a study on the negative impacts of underwater mortgage loans on the housing market and the economy of the United States and report to the Congress on the findings of such study, including recommendations to the Congress on how to mitigate such impacts.
(b) Underwater Mortgage Defined.--For purposes of this section, the term “underwater mortgage” means a mortgage loan on an owner-occupied residential property that has an appraised value that is less than the outstanding obligation under such mortgage loan.
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 (A006) offered by Ms. Waters.(consideration: CR H1694-1695; text: CR H1694)
March 10, 2011 • 2:29 PM
Amendment (A006) offered by Ms. Waters. (consideration: CR H1694-1695; text: CR H1694)
March 10, 2011 • 2:29 PM
Mrs. Biggert raised a point of order against the Waters amendment (A006). Mrs. Biggert stated that the amendment was not germane and violated clause 7 of Rule XVI. The Chair sustained the point of order.
March 10, 2011 • 2:35 PM