FHA and GNMA Credit Commitment Assistance Act of 1986
Public Law 99-289 · H.R. 4602 · 99th Congress · began in the House
Signed by Ronald Reagan (R) on May 2, 1986 · Housing and Community Development
Sponsor: Rep. Chalmers Wylie (R-OH-15)
Cosponsors (40): Rep. Fernand St. Germain, Rep. Henry González,
Passage votes
- HouseVoice vote
- SenateVoice vote
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.
Authorizes the Government National Mortgage Association and the Federal Housing Administration (FHA) to enter into additional specified FY 1986 commitments to guarantee mortgage-backed securities and insure loans under the National Housing Act. Increases the limitation on the amounts of such commitments.
Amends the National Housing Act to extend authority through June 6, 1986, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities.
Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through June 6, 1986.
Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through June 6, 1986, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 - 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority.
Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones, through June 6, 1986.
Amends the National Housing Act to extend authority for the national crime insurance program through June 6, 1986.
Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through June 6, 1986.
Amends the Housing and Urban-Rural Recovery Act of 1983 to extend the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through June 6, 1986.
Extends the Home Mortgage Disclosure Act through June 6, 1986.
Directs the Secretary of Housing and Urban Development to make at least monthly estimates throughout each fiscal year of remaining loan and mortgage commitment authority, and to notify the appropriate congressional committees when such limitations will be reached or whenever 75 percent of such authority has been utilized.
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.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 10 actions.
- May 2, 1986Became lawBecame law · Became Public Law No: 99-289.
- Became lawBecame law · Signed by President.
- Apr 30, 1986PresidentPresident · Presented to President.
- Resolving differencesResolving differences · House Agreed to Senate Amendments to House Amendments by Voice Vote.
- Apr 29, 1986FloorFloor · Passed Senate with an amendment by Voice Vote.
- Apr 22, 1986FloorFloor · Received in the Senate and read twice and held at the desk by unanimous consent. Pending further disposition.
- Apr 21, 1986FloorFloor · Passed House by Voice Vote.
- Apr 15, 1986CommitteeCommittee · Referred to House Financial Services Committee
- CommitteeCommittee · Referred to Housing and Insurance Subcommittee of the House Financial Services Committee
- IntroducedIntroduced · Introduced in the House
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.