***POSTPONED***

Senator Paul S. Sarbanes (D-MD), Chairman of the Banking, Housing, and Urban Affairs Committee, announced that the full Committee will meet in executive session to conduct a mark-up of S.2239, the FHA Downpayment Simplification Act of 2002; and of S.1210, reauthorizing the Native American Housing and Self-Determination Act of 1996 (NAHASDA).

The FHA Downpayment Simplification Act of 2002 amends the National Housing Act to simplify the downpayment requirements for FHA mortgage insurance for single-family homebuyers.

The reauthorization bill, S.1210, was referred from the Committee on Indian Affairs and extends NAHASDA through FY 2006 with minor modifications. In 1996, Congress passed NAHASDA in order to strengthen federal housing assistance for tribal communities. It provides block grants to Indian tribes or their tribally designated housing entities for affordable housing activities that were previously under general housing programs.

###