FHA Alternative Credit Pilot Program Reauthorization Act of 2015

Bill: 114-hr-123
Sponsor: full_name: Rep. Green, Al [D-TX-9]
Introduced: 2015-01-06
Policy area: Housing and Community Development
Subjects: Consumer credit

Government information and archives

Government lending and loan guarantees

Housing finance and home ownership
Latest action: action_date: 2015-01-06
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2015-01-06
action_desc: Introduced in House
text: <p><b>FHA Alternative Credit Pilot Program Reauthorization Act of 2015</b></p> <p> Amends the National Housing Act to extend from five to 10 years the pilot program to establish for mortgagees an automated process for providing alternative credit rating information on mortgagors and prospective mortgagors under mortgages on 1- to 4-family residences who have insufficient credit histories for determining their creditworthiness.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 123 IN THE HOUSE OF REPRESENTATIVES January 6, 2015 Mr. Al Green of Texas (for himself and Ms. Chu of California ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To extend the pilot program under section 258 of the National Housing Act that establishes an automated process for providing alternative credit rating information for mortgagors and prospective mortgagors under certain mortgages.

1. Short title This Act may be cited as the FHA Alternative Credit Pilot Program Reauthorization Act of 2015 . 2. Extension of pilot program Section 258(d) of the National Housing Act ( 12 U.S.C. 1715z–24(d) ) is amended by striking 5-year and inserting 10-year .