Vote Description

FHA Mortgage Rates Revisions/Down Payment Requirement. S 3217 (Roll Call 142)



The Senate defeated an amendment designed to reduce taxpayer exposure for risky home mortgages by increasing the minimum down payment requirement from 3.5 percent to 5 percent and placing other limits on taxpayer-guaranteed mortgages. ACU thinks loose lending practices by government agencies fueled the meltdown in the housing market, and so supported this tightening. However, the Senate rejected it May 12, 2010, by a vote of 42-57.



Join ACU

1331 H St NW Suite 500
Washington, DC 20005
Ph: (202) 347-9388 | Fx: (202) 347-9389

Contact Us
Privacy Policy
Opportunities/Careers

ACU. All Rights Reserved.