Federal Housing Enterprise Regulatory Reform Act of 2005

A bill to address the regulation of secondary mortgage market enterprises, and for other purposes.

1/26/2005--Introduced.
Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish:
(1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and
(2) the Federal Housing Enterprise Board.
Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting:
(1) assessment authority;
(2) authority to limit nonmission-related assets;
(3) minimum and critical capital levels;
(4) risk-based capital test;
(5) capital classifications and undercapitalized enterprises;
(6) enforcement actions and penalties;
(7) golden parachutes; and
(8) reporting. Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation.
Excludes the Federal Home Loan Banks from certain securities reporting requirements.
Abolishes the Federal Housing Finance Board.


... morehide bill summary

Sponsor

• Charles Hagel
• and 3 Co-Sponsors
  • Elizabeth Dole
  • Sen. John McCain [R, AZ]
  • John Sununu
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Committees

• Senate Banking, Housing, and Urban Affairs

Amendments

This bill has no amendments.

Amendments to S.190

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
January 26, 2005

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All Bill Actions

• Jul 28, 2005: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
• Introduced on Jan 26, 2005.
• Jan 26, 2005: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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Related Issue Areas:

• Housing
• Administrative fees
• Administrative procedure
• Administrative remedies
• 42 more
• Affordable housing
• Auditing
• Bank capital
• Bank employees
• Bank examination
• Bank fraud
• Bank loans
• Brokers
• Budgets
• Congress
• Congressional reporting requirements
• Corporation directors
• Criminal justice
• Debt
• Department of Housing and Urban Development
• Executive departments
• Executive reorganization
• Federal Housing Finance Board
• Federal advisory bodies
• Federal employees
• Federal home loan banks
• Finance
• Fines (Penalties)
• Golden parachutes
• Government employees
• Government information
• Government paperwork
• Government securities
• Governmental investigations
• Housing finance
• Indemnity
• Injunctions
• Interest rates
• Jurisdiction
• Law
• Presidential appointments
• Presidents
• Public contracts
• Secondary mortgage market
• Securities regulation
• Transfer of employees
• Trusts and trustees

Data from the Congressional Research Service

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Blog Coverage

September 17, 2008 Federal Housing Enterprise Regulatory Reform Act of 2005

I suggest everyone go to govtrack.us and look at John McCain’s record on attempting to reform the regulation of Fannie Mae and Freddy Mac. John McCain co-sponsored S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 ...

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