Amendment104th Congress
Amendments simplify the downpayment requirement of FHA; change the procedure for the issuance of mortgage insurance certificates so that lenders may issue such certificates; and change downpayment requirements by allowing parental loans to be included by the purchaser of a home.
- Amendment Number
- 1228
- Description
- Amendments simplify the downpayment requirement of FHA; change the procedure for the issuance of mortgage insurance certificates so that lenders may issue such certificates; and change downpayment requirements by allowing parental loans to be included by the purchaser of a home.
- Purpose
- An amendment, consisting of two amendments offerred en bloc, to Permit the use of funds borrowed from family members for downpayments on FHA loans. The amendment would would also incorporate provisions of secs. 401 and 402 of H.R. 1708, relating to the calculation of FHA downpayment requirements, into the provisions of the bill.
- Congress
- 104
- Type
- HAMDT
- Latest Action Date
- Jun 26, 1996
- Latest Action Text
- On agreeing to the Orton amendments (A033) Agreed to by voice vote.
- Latest Action Time
- 21:33:59
- Submitted Date
- Jun 26, 1996
- Chamber
- House of Representatives
- Update Date
- Aug 15, 2021