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H.R. 1443 (rh) To provide for the collection of data on traffic stops. [Reported in House] ...
108th CONGRESS
1st Session
H. R. 1443
To amend section 251 of the National Housing Act to enable homebuyers
to make use of the authority of the Secretary of Housing and Urban
Development to insure hybrid adjustable rate mortgages.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 26, 2003
Mr. Calvert (for himself, Mr. Israel, Mr. Feeney, and Mr. Davis of
Alabama) introduced the following bill; which was referred to the
Committee on Financial Services
_______________________________________________________________________
A BILL
To amend section 251 of the National Housing Act to enable homebuyers
to make use of the authority of the Secretary of Housing and Urban
Development to insure hybrid adjustable rate mortgages.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Access to Affordable Mortgages
Act''.
SEC. 2. HYBRID ARMS.
(a) In General.--Section 251(d)(1)(C) of the National Housing Act
(12 U.S.C. 1715z-16(d)(1)(C)) is amended by striking ``five'' and
inserting ``three''.
(b) Applicability.--The amendment made by subsection (a) shall
apply to mortgages executed on or after the date of the enactment of
this Act.
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