AB 1432 California Assembly · 2009-2010 Regular Session

Qualified mortgage lender loans: terms and conditions.

Summary

Existing law establishes the California Housing Finance Agency for the primary purpose of meeting the housing needs of persons and families of low or moderate income. Existing law authorizes the agency to make loans to qualified mortgage lenders under terms and conditions requiring the proceeds to be used for making construction loans and mortgage loans for the purpose of financing housing developments and residential structures. This bill would provide that if the agency receives funds from the federal Troubled Asset Relief Program established pursuant to the Emergency Economic Stabilization Act of 2008, the agency would be limited to using the funds to make or refinance acquisition, construction, or development loans for housing developments or residential structures for persons meeting an income test.

Bill status failed 1 of 4 stages cleared

Introduction

Feb 2009

Committee Review

Floor Vote

Governor

Introduced Feb 27, 2009 Last action Feb 2, 2010

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 21, 2009

Lower · Passed

In committee: Set, first hearing. Hearing canceled at the request of author.

lower

Apr 13, 2009

Committee

Re-referred to Com. on H. & C.D.

lower

Apr 2, 2009

Introduced

From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.

lower

Apr 2, 2009

Committee

Referred to Com. on H. & C.D.

lower

Mar 1, 2009

Lower · Passed

From printer. May be heard in committee March 30.

lower

Feb 27, 2009

Introduced

Introduced. To print.

lower

1 primary · 0 co-sponsors