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S.469: A bill to assist the Secretary of Housing and Urban Development in stabilizing the Home Equity Conversion Mortgage program.

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about housing and community development
You can read the bill
Sponsor Robert Menendez, D-N.J.
Total Cosponsors 1 (All Democrats)
Introduced March 6, 2013
Latest Major Action June 18, 2013
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See it on C-SPAN

Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Amends the National Housing Act to require that, to be eligible for insurance under the Home Equity Conversion Mortgage program for elderly homeowners, a mortgage contain terms and provisions with respect to property maintenance as well as for establishing escrow accounts, performing financial assessments, or limiting the amount of any payment made available under the mortgage.

Authorizes the Secretary of Housing and Urban Development (HUD) to establish any additional or alternative requirements necessary to more effectively carry out such Act.

(Source: Congressional Research Service)

Bill Actions

Date Description
June 18, 2013 Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 113-61.
March 6, 2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.