Amendment102nd Congress
An amendment establishing specific HUD guidelines for determining the existence of discriminatory lending practices of financial institutions in issuing mortgages. The amendment would prohibit Fannie Mae and Freddie Mac from doing business with lenders which have the lowest rating under the Community Reinvestment Act, or have been declared in violation of the Fair Housing Act or the Equal Credit Opportunity Act more than twice in a single year.
- Amendment Number
- 303
- Description
- An amendment establishing specific HUD guidelines for determining the existence of discriminatory lending practices of financial institutions in issuing mortgages. The amendment would prohibit Fannie Mae and Freddie Mac from doing business with lenders which have the lowest rating under the Community Reinvestment Act, or have been declared in violation of the Fair Housing Act or the Equal Credit Opportunity Act more than twice in a single year.
- Purpose
- Amendment establishes specific guidelines for determining the existence of financial institutions that employ discriminatory lending practices in issuing mortgages. Under the amendment Fannie Mae and Freddie Mac are prohibited from doing business with such institution.
- Congress
- 102
- Type
- HAMDT
- Latest Action Date
- Sep 25, 1991
- Latest Action Text
- On agreeing to the Waters amendment (A006) Agreed to by voice vote.
- Latest Action Time
- 14:39:44
- Submitted Date
- Sep 25, 1991
- Chamber
- House of Representatives
- Update Date
- Jun 7, 2021