PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
Congressional Research Service
Version 00 · Introduced in House · Jun 1, 2012
Homeownership Preservation Education Act of 2012 - Directs the Secretary of Housing and Urban Development (HUD) to carry out a pilot program to evaluate the effectiveness, in reducing defaults on residential mortgages, of reducing up-front premiums for mortgage insurance made available by the Secretary pursuant to the National Housing Act for first-time homebuyers who complete a homeownership counseling program providing for one-on-one prepurchase counseling.
Requires reduced premiums for mortgages secured by a 1- to 4-family dwelling that is an obligation of the Mutual Mortgage Insurance Fund for a first-time homebuyer who completes a HUD-approved program of counseling on the responsibilities and financial management involved in homeownership that provides for one-on-one prepurchase counseling of the homebuyer by a HUD-approved nonprofit housing counseling agency.
People & committees
Rep. Bass, Karen [D-CA-33] · D–CA
Legislative record
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Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
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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Analyze H.R.5884 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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