OregonRelating to guarantees against losses in mortgage loans extended to first-time home buyers; declaring an emergency.
What it does
Directs the Housing and Community Services Department to establish a program to guarantee against losses in mortgage loans that lenders extend to first-time home buyers. Specifies which mortgage loans qualify for the guarantee and the qualifications and duties of first-time home buyers. Specifies circumstances under which a lender may make a claim and documentation a lender must provide as support for the claim.
More detail
Establishes the Welcome Home Assistance Program Fund and appropriates moneys in the fund to the department to carry out the purposes of the Act. Declares an emergency, effective on passage.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 28In committee upon adjournment.Latest
- Mar 31Referred to Ways and Means by prior reference.Minor
- Mar 31Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Ways and Means by prior reference.Minor
- Mar 24Work Session held.
- Vote recorded Heard and Reported Out with Amendments. Result: pass.Lower
- Feb 12Public Hearing held.
- Feb 6Referred to Housing and Homelessness by order of Speaker and then Ways and Means by prior reference.Minor
- Feb 6Without recommendation as to passage, be referred to Housing and Homelessness, and then to Ways and Means by prior reference.
- Feb 4Work Session held.
- Vote recorded Heard and Reported Out. Result: pass.Lower
- Jan 17Referred to Commerce and Consumer Protection with subsequent referral to Ways and Means.Minor
- Jan 13First reading. Referred to Speaker's desk.Introduced