PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Feb 23, 2009
Honest FHA Originator Act of 2009 - Amends the National Housing Act to remove the Director of the Enforcement Center from the Mortgagee Review Board of the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD).
Declares that any person or entity that is not approved by the HUD Secretary is prohibited from serving as a mortgagee and from participating in the origination of an FHA-insured loan.
Sets forth mortgagee eligibility criteria.
Showing the opening paragraphs of the official summary.
Directs the Secretary to require each mortgagee approved for participation in the FHA mortgage insurance programs to: (1) use the business name of the mortgagee that is registered with the Secretary in all advertisements and promotional materials relating to the business of such mortgagee in the mortgage insurance programs; and (2) maintain copies of such advertisements and promotional materials.
Requires an approved mortgagee to submit immediate written notification of the following actions: (1) the debarment, suspension of a Limited Denial of Participation (LDP), or application of other sanctions, fines, or penalties applied to the mortgagee or to any officer, partner, director, principal, manager, supervisor, loan processor, loan underwriter, or loan originator of the mortgagee pursuant to applicable state or federal law; or (2) the revocation of a state-issued mortgage loan originator license or any other similar declaration of ineligibility pursuant to state law.
Instructs the Secretary to expand the review of FHA mortgagee applicants and newly approved mortgagees.
People & committees
Rep. Waters, Maxine [D-CA-35] · D–CA
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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