Federal Housing Administration Issues

H.R. 3221

Housing and Economic Recovery Act of 2008

Proposed Legislation 

On July 30, President Bush signed the "Housing and Economic Recovery Act of 2008" (H.R. 3221). The bill, among other items, modernizes the Federal Housing Administration (FHA), reforms the regulation of Government Sponsored Enterprises, Fannie Mae and Freddie Mac (GSEs), and provides $300 billion for FHA refinancings of distressed loans.

For a copy of the bill as passed by the House, click here.

To view a copy of the NAMB Press Release, click here.

For a copy of the H.R. 3221 Summary and HUD-provided FHA Reform & Refinancing overview charts, click here.

S. 2338

The FHA Modernization Act of 2007

Proposed Legislation

S. 2338: The FHA Modernization Act of 2007

Legislative Outlook

S. 2338 was approved by the U.S. Senate on December 14, 2007.  The bill, along with H.R. 1852, are currently in conference committee.  If a compromise bill can be achieved, it will go back to each chamber of Congress for a final vote and then will be sent to the President for his signature. After this, a formal rulemaking process would need to take place before the bill could go into effect.

H.R. 1852

The Expanding American Homeownership Act of 2007

Proposed Legislation

H.R. 1852:  The Expanding American Homeownership Act of 2007

NAMB's Position

NAMB supports H.R. 1852 as passed by the House of Representatives on September 18, 2007.  For NAMB's full position paper on FHA Reform and H.R. 1852, please click here for the Members Only section.  

Legislative Outlook 

H.R. 1852 was approved by the U.S. House of Representatives on September 18, 2007.  Companion legislation has been passed in the Senate (S. 2338). The two bills are in conference committee.  If a compromise bill can be achieved, it will go back to each chamber of Congress for a final vote and then will be sent to the President for his signature. After this, a formal rulemaking process would need to take place before the bill could go into effect.

Press Releases (under construction)

U.S. House Financial Services Committee Passes Comprehensive FHA Reform - 5/3/2007 

NAMB Supports Committee Passage of the Expanding American Homeownership Act of 2007 - 5/3/2007

Proposed FHA Legislation Will Help Subprime Borrowers - 4/2/2007

NAMB Senate Testimony Reveals Needed Changes to Improve FHA Effectiveness - 3/16/2007

Congressional Testimony (under construction)

Solvency & Reform Proposals for the Federal Housing Administration - 3/15/2007

FHA:  Issues for the Future - 6/20/2006

Transforming the Federal Housing Administration for the 21st Century - 4/5/2006