PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in House · Feb 10, 2000
Private Mortgage Insurance Technical Corrections and Clarification Act - Amends the Homeowners Protection Act of 1998, with respect to the definition of " cancellation date" to replace "amortization schedules" with, and define,"amortization schedule then in effect" for purposes of adjustable rate mortgages.Includes balloon mortgages within the definition of "adjustable rate mortgages."States that if a residential mortgage loan is modified (with mortgagor-mortgagee agreement) the cancellation date, termination date, or final agreement shall be recalculated to reflect such modifications.(Sec. 4) Extends mortgage insurance cancellation rights beyond the cancellation date for a qualifying borrower who is current on required payments.(Sec. 5) Revises the automatic termination date with respect to a mortgagor who is not current on payments as of the mortgage termination date.States that the cancellation or termination of private mortgage insurance shall not affect the rights of any mortgagee, servicer, or insurer to enforce any accrued obligation for premium payments.(Sec. 6) Revises specified definitions.
People & committees
Rep. Roukema, Marge [R-NJ-5] · R–NJ
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3578-3579)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H3578-3579)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3637.
Considered under suspension of the rules. (consideration: CR H3578-3581)
Mrs. Roukema moved to suspend the rules and pass the bill.
Referred to the House Committee on Banking and Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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Analyze H.R.3637 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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