topic Re: Any idea what's going on with HR 5017? in Mortgage Loans

Any idea what's going on with HR 5017?

Anonymous — Thu, 29 Apr 2010 14:34:32 GMT

Our file was submitted to USDA yesterday, in California. We are cutting it real close here. If review time is 48-72 hours, which I heard from multiple people, that would put us at May 4 to get our funding set aside for our loan - last I heard funding was expeced to be exhausted by the 7th.

Does anyone know where the Bill HR 5017 is? Last I heard it passed in the House of Reps and is now ready to be passed by Senate???

Thanks!

Re: Any idea what's going on with HR 5017?

Anonymous — Thu, 29 Apr 2010 20:58:34 GMT

I read earlier today that the bill was read twice today in Senate and referred to a committee there. Don't remember which site I saw it on though, sorry.

Re: Any idea what's going on with HR 5017?

Anonymous — Sat, 01 May 2010 18:04:34 GMT

http://www.govtrack.us/congress/bill.xpd?bill=h111-5017 - This is most recent information I can find about it today.

Edited

Re: Any idea what's going on with HR 5017?

Anonymous — Mon, 03 May 2010 15:28:56 GMT

I am set to close on 5/21/10. I am getting really nervous about the guaranteed loan now. It looks like 5017 is rolling along now. I noticed that this bill would raise the guarantee fee from 2% to up to 4%. Is it possible that the fee could change before I close if the president signs it soon?

Re: Any idea what's going on with HR 5017?

conjur — Thu, 06 May 2010 17:23:55 GMT

I've called the offices of Sen. Bennet (bill's sponsor in the Senate) and Sen. Dodd (committee chairman)

The Senate version of the bill is still in committee. The financial reform stuff is taking precedent right now. The guy that answered the phone at Sen. Bennet's office didn't know when it would come out of committee.

The girl who answered the phone at Sen. Dodd's office said the bill is still in committee but that Sen. Bennet could offer it up as an amendment to the financial reform bill but there's been no word yet on whether he'll try that or push for a markup of the bill itself.

So....we wait.

Re: Any idea what's going on with HR 5017?

Anonymous — Thu, 06 May 2010 20:19:53 GMT

Floor Schedule

Thursday, May 06, 2010

9:30 a.m.: Convene and resume consideration of S.3217, Restoring American Financial Stability Act of 2010.