To increase the flexibility of the Secretary of Housing and Urban Development with respect to the amount of premiums charged for FHA single family housing mortgage insurance, and for other purposes.
Public Law 111-229 · H.R. 5981 · 111th Congress · began in the House
Signed by Barack Obama (D) on Aug 11, 2010 · Housing and Community Development
Sponsor: Rep. Barney Frank (D-MA-4)
Cosponsors: None
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Amends the National Housing Act with respect to requirements for the insurance of mortgages secured by a one- to four-family dwelling which are obligations of the Mutual Mortgage Insurance Fund.
(Sec. 1) Authorizes the Secretary of Housing and Urban Development (HUD) to establish and collect annual premium payments of up to 1.5% of the remaining insured principal balance on such a dwelling. (Currently the Secretary is required to establish and collect annual premium payments of up to .5% of the remaining insured principal balance.)
Authorizes an annual premium of up to 1.55% of the remaining insured principal balance of any 30-year mortgage on such a dwelling involving an original principal obligation greater than 95% percent of such value. (Currently, an annual premium of up to 0.55% of the remaining insured principal balance on such a mortgage is required.)
Authorizes the Secretary to adjust the amount of any initial or annual premium through notice published in the Federal Register or mortgagee letter, which shall establish the effective date of any such adjustment.
(Sec. 2) Directs the Assistant Secretary of HUD who is the Federal Housing Commissioner to appear before specified congressional committees within 270 days after the enactment of this Act to discuss the finances, including premiums, of the Federal Housing Administration (FHA).
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
The record lists no related bills.
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 16 actions.
- Aug 11, 2010Became lawBecame law · Became Public Law No: 111-229.
- Became lawBecame law · Signed by President.
- Aug 10, 2010FloorFloor · Presented to President.
- Aug 5, 2010FloorFloor · Message on Senate action sent to the House.
- Aug 4, 2010FloorFloor · Passed Senate without amendment by Unanimous Consent.
- CommitteeCommittee · Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
- OtherOther · Cleared for White House.
- Aug 2, 2010CommitteeCommittee · Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jul 30, 2010FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill Agreed to by voice vote.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on H.R. 5981.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mr. Frank (MA) moved to suspend the rules and pass the bill.
- CommitteeCommittee · Received in the Senate.
- CommitteeCommittee · Referred to the House Committee on Financial Services.
- IntroducedIntroduced · Introduced in House
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
No amendments to this bill are on record.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.