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H.R. 3141, FHA Loan Affordability Act of 2019 (CBO Report for Congress)

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Congress 116th
Date Requested June 11, 2019
Requested By House Committee on Financial Services
Date Sent June 28, 2019
Description:
The bill would Require the Federal Housing Administration to end a borrower’s annual mortgage insurance premiums when the outstanding mortgage principal balance falls below 78 percent of the property value that was determined when the mortgage was issued Apply that requirement to mortgages insured after enactment of H.R. 3141 Estimated budgetary effects would primarily stem from Reducing the insurance premiums collected by the Federal Housing Administration and the Government National Mortgage Association Areas of significant uncertainty include Accurately projecting how demand for Federal Housing Administration mortgage insurance would change under the bill

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