H.R.1908: Housing Financial Literacy Act of 2015

Congressional Research Service

Official summary

Version 00 · Introduced in House · Apr 21, 2015

Housing Financial Literacy Act of 2015

Amends the National Housing Act to revise the single insurance premium payment for a mortgage (secured by a one- to four-family dwelling that is an obligation of the Mutual Mortgage Insurance Fund) of a first-time homebuyer who completes a program of counseling on the responsibilities and financial management involved in homeownership that is approved by the Secretary of Housing and Urban Development.

Repeals the current maximum premium payment of 2.75% of the amount of the mortgage's original insured principal obligation.

Sets the single mortgage insurance premium payment at 25 basis points lower than the premium payment amount otherwise established.

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People & committees

Who introduced it

Rep. Beatty, Joyce [D-OH-3] · D–OH

Committees

Financial Services Committee

34 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Apr 22, 2015
Sponsor introductory remarks on measure. (CR E559)
Apr 21, 2015
Referred to the House Committee on Financial Services.
Apr 21, 2015
Introduced in House
Apr 21, 2015
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Apr 21, 2015 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

HR 851 · Housing Financial Literacy Act of 2017

Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.1908 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.1908, 114th Congress: Housing Financial Literacy Act of 2015

Official record: https://www.congress.gov/bill/114th-congress/house-bill/1908

Text version to examine: Introduced in House · 2015-04-21.

Official full text: https://www.congress.gov/114/bills/hr1908/BILLS-114hr1908ih.htm

Imported record last updated by the source: 2025-08-12T14:15:41Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.1908 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.1908 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.1908, 114th Congress: Housing Financial Literacy Act of 2015

Official record: https://www.congress.gov/bill/114th-congress/house-bill/1908

Text version to examine: Introduced in House · 2015-04-21.

Official full text: https://www.congress.gov/114/bills/hr1908/BILLS-114hr1908ih.htm

Imported record last updated by the source: 2025-08-12T14:15:41Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1908 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.1908 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.1908, 114th Congress: Housing Financial Literacy Act of 2015

Official record: https://www.congress.gov/bill/114th-congress/house-bill/1908

Text version to examine: Introduced in House · 2015-04-21.

Official full text: https://www.congress.gov/114/bills/hr1908/BILLS-114hr1908ih.htm

Imported record last updated by the source: 2025-08-12T14:15:41Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1908 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.1908 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.1908, 114th Congress: Housing Financial Literacy Act of 2015

Official record: https://www.congress.gov/bill/114th-congress/house-bill/1908

Text version to examine: Introduced in House · 2015-04-21.

Official full text: https://www.congress.gov/114/bills/hr1908/BILLS-114hr1908ih.htm

Imported record last updated by the source: 2025-08-12T14:15:41Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1908 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.