The House Financial Services Committee last week approved legislation eliminating a requirement for a downpayment on FHA-insured mortgage loans to first-time homebuyers. H.R. 3755, the Zero Downpayment Act, would modify FHA rules so that cash-strapped families and individuals would no longer have to pay a 3 percent downpayment to obtain an FHA loan. The bill also would allow the FHA to insure up to 100 percent of the value of the home.