S 2806 · 106th Congress · Housing and Community Development
Credit Watch Act of 2000
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2000-06-28)
Plain Language Summary
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Credit Watch Act 2000 - Amends the National Housing Act to direct the Secretary of Housing and Urban Development to review, at least annually, the indicators of portfolio risk for insured single family mortgages originated or underwritten by each mortgagee, and compare such risk with comparable mortgages in the same area. Authorizes the Secretary, based upon such comparison, to terminate the approval of a mortgage as an unacceptable insurance risk. Sets forth termination procedures.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (4)
3 Democrats1 Republican