OR HB3188 | 2025 | Regular Session
Status
Spectrum: Slight Partisan Bill (Democrat 6-3)
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-02-12 - Public Hearing held.
Pending: House Housing and Homelessness Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-02-12 - Public Hearing held.
Pending: House Housing and Homelessness Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Tells a state agency to back home loans that a lender makes to first-time buyers in this state. Says what kinds of loans qualify and how a lender must claim a loss from a loan. Creates a fund to hold moneys for the loan guarantees. (Flesch Readability Score: 88.3). Directs the Department of Consumer and Business Services 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. 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.
Title
Relating to guarantees against losses in mortgage loans extended to first-time home buyers; declaring an emergency.
Sponsors
| Rep. Ben Bowman [D] | Rep. Vikki Breese-Iverson [R] | Rep. April Dobson [D] | Rep. Christine Drazan [R] |
| Rep. Hai Pham [D] | Rep. Lisa Fragala [D] | Rep. Mark Gamba [D] | Rep. Cyrus Javadi [R] |
| Rep. Hoa Nguyen [D] |
Roll Calls
2025-02-04 - House - House Committee Without recommendation as to passage, be referred to Housing and Homelessness, and then to Ways and Means by prior reference (Y: 8 N: 0 NV: 0 Abs: 2) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2025-02-12 | House | Public Hearing held. |
| 2025-02-06 | House | Referred to Housing and Homelessness by order of Speaker and then Ways and Means by prior reference. |
| 2025-02-06 | House | Without recommendation as to passage, be referred to Housing and Homelessness, and then to Ways and Means by prior reference. |
| 2025-02-04 | House | Work Session held. |
| 2025-01-17 | House | Referred to Commerce and Consumer Protection with subsequent referral to Ways and Means. |
| 2025-01-13 | House | First reading. Referred to Speaker's desk. |
