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Description

Amendment sought to make it a violation for a lender, whose only interest in the property is the amount of the outstanding mortgage indebtedness, to require a homeowner to purchase more than the legally required amount of flood insurance--an amount equal to the outstanding principal balance of the loan.

Purpose:

An amendment numbered 3 printed in House Report 112-138 to make it a violation for a lender, whose only interest in the property is the amount of the outstanding mortgage indebtedness, to require a homeowner to purchase more than the legally required amount of flood insurance--an amount equal to the outstanding principal balance of the loan.

House Amendment Code:

(A003)

House Tally Clerks use this code to manage amendment information.


Actions (2)

Date All Actions
07/12/2011On agreeing to the Speier amendment (A003) Failed by recorded vote: 195 - 230 (Roll no. 554).
07/12/2011Amendment (A003) offered by Ms. Speier. (consideration: CR H4900, H4916-4917; text: CR H4900)