H.R. 5981: To increase the flexibility of the Secretary of Housing and Urban Development with respect to the amount of premiums charged for FHA single family housing mortgage insurance, and for other purposes.

H.R. 5981: To increase the flexibility of the Secretary of Housing and Urban Development with respect to the amount of premiums charged for FHA single family housing mortgage insurance, and for other purposes.

111th Congress · introduced 2010-07-30 · Housing and Community Development · Latest: Became Public Law No: 111-229.

federal

Follow this bill, step by step

Where it came from: introduced 2010-07-30 · official record
Who proposed it: Rep. Frank, Barney [D-MA-4] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Became Public Law No: 111-229. (final step reached)
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To increase the flexibility of the Secretary of Housing and Urban Development with respect to the amount of premiums charged for FHA single family housing mortgage insurance, and for other purposes.

Plain summary

(This measure has not been amended since it was introduced. The expanded summary of the House passed version is repeated here.) Amends the National Housing Act with respect to requirements for the insurance of mortgages secured by a one- to four-family dwelling which are obligations of the Mutual Mortgage Insurance Fund. (Sec. 1) Authorizes the Secretary of Housing and Urban Development (HUD) to establish and collect annual premium payments of up to 1.5% of the remaining insured principal balance on such a dwelling. (Currently the Secretary is required to establish and collect annual premium payments of up to .5% of the remaining insured principal balance.) Authorizes an annual premium of up to 1.55% of the remaining insured principal balance of any 30-year mortgage on such a dwelling involving an original principal obligation greater than 95% percent of such value. (Currently, an annual premium of up to 0.55% of the remaining insured principal balance on such a mortgage is required.) Authorizes the Secretary to adjust the amount of any initial or annual premium through notice published in the Federal Register or mortgagee letter, which shall establish the effective date of any such adjustment. (Sec. 2) Directs the Assistant Secretary of HUD who is the Federal Housing Commissioner to appear before specified congressional committees within 270 days after the enactment of this Act to discuss the finances, including premiums, of the Federal Housing Administration (FHA).

Congressional Research Service summary (Public Law), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

To increase the flexibility of the Secretary of Housing and Urban Development with respect to the amount of premiums charged for FHA single family housing mortgage insurance, and for other purposes.

Source: Congressional Research Service summary (Public Law)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Frank, Barney [D-MA-4] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Federal Register: The official daily publication of the U.S. government for agency rules, proposed rules, public notices and presidential documents.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Public Law)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111hr5981.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/hr>

Record fed-us-cong111-hr5981 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111