Bill Text: MA H3691 | 2009-2010 | 186th General Court | Introduced
Bill Title: Private mortgage insurance and the Affordable Housing Trust Fund
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 4/28 at 10:30 AM in Hearing Room B2 [H3691 Detail]
Download: Massachusetts-2009-H3691-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Steven M. Walsh
_______________
To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act relative to private mortgage insurance and the affordable housing trust fund.
_______________
PETITION OF:
Name: |
District/Address: |
Steven M. Walsh |
11th Essex |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE HOUSE, NO. 1294 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act relative to private mortgage insurance and the affordable
housing trust fund.
Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
Section 3 of Chapter 121D of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting at the end of the section the following:-
(e) Persons or parties who are issued loans as part of the fund which exceed eighty per cent of the value of the real estate shall not be required to insure or guarantee the loan by a mortgage insurance company as otherwise required in Section 2 of 167E.