legislation: 117-s-2797

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-s-2797 117 s 2797 LIFT Homebuyers Act of 2021 Housing and Community Development 2021-09-22 2021-09-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Warner, Mark R. [D-VA] VA D W000805 4 Low-Income First-Time Homebuyers Act of 2021 or the LIFT Homebuyers Act of 2021 This bill establishes a program to provide fixed-rate 20-year mortgages for first-time, first-generation homebuyers whose incomes do not exceed a certain amount. These mortgages must be offered by the Federal Housing Administration (FHA) or the Rural Housing Service (RHS). Pricing terms must be established (1) such that monthly mortgage payments under this program are similar to a 30-year FHA- or RHS-backed mortgage, or (2) as are determined to be necessary to develop liquidity for securities backed by covered mortgage loans and expand program participation by eligible homebuyers. Additionally, program funds must be transferred to the Department of the Treasury for the purchase of securities backed by such mortgages. 2022-12-30T11:48:15Z  

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