U.S. Congress - H.R.5958 Homeowner Opportunity Act of 2008
H.R.5958 - Homeowner Opportunity Act of 2008
To make permanent the increases made by the Economic Stimulus Act of 2008 in the loan limits for the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the FHA. view all titles (2)
All Bill Titles
- Official: To make permanent the increases made by the Economic Stimulus Act of 2008 in the loan limits for the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the FHA. as introduced.
- Short: Homeowner Opportunity Act of 2008 as introduced.
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Official Summary
5/5/2008--Introduced.Homeowner Opportunity Act of 2008 - Amends the Federal National Mortgage Association Charter Act, the Federal Home Loan Mortgage Corporation Act, and the National Housing Act to make permanent certain increases in the maximum original principal obligation of a mortgageOfficial Summary
5/5/2008--Introduced.Homeowner Opportunity Act of 2008 - Amends the Federal National Mortgage Association Charter Act, the Federal Home Loan Mortgage Corporation Act, and the National Housing Act to make permanent certain increases in the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Expresses the sense of the Congress to encourage Fannie Mae and Freddie Mac to securitize mortgages acquired under the increased conforming loan limits to the extent that such securitizations do not impose additional costs for mortgages originated, purchased, or securitized under the existing limits, or interfere with the goal of adding liquidity to the market. Amends the National Housing Act to:
(1) increase the mortgage loan limit for mortgage insurance in high-cost areas; and
(2) direct the Secretary of Housing and Urban Development to publish the median house prices and mortgage principal obligation limits for all areas each year.
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Recent News Coverage
AUDIO: House may vote today on housing rescue package
HR 5958 would ensure that the maximum limits of $729750 are maintained, opening mortgage opportunities for families to obtain fixed-rate mortgages and help ...
NAR Calls to Stabilize Mortgage Market by Increasing Conforming ...
Jerry McNerney, D-Calif., and Gary Miller, R-Calif., introduced HR 5958, the Homeowner Opportunity Act, making permanent the increase to FHA and conforming ...
California Lawmakers Push Congress for Permanent Increase to GSE ...
Introduction of HR 5958, the Homeowner Opportunity Act, comes as the House prepares to debate a number of proposals later this week to stimulate the housing ...
Recent Blog Coverage
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View Top Rated
Higher Loan Limits Permanent?
McNerney's provision, introduced this past Monday as HR 5958, the Homeowner Opportunity Act of 2008, makes permanent the loan limit increases for Fannie Mae, Freddie Mac and the Federal Housing Administration that were raised ...
nar: stabilize market by increasing conforming loan limits permanently
introduced hr 5958, the homeowner opportunity act, making permanent the increase to fha and conforming loan limits for high-cost areas. the bill will be considered as an amendment to the larger housing stimulus bill. ...
NAR: Stabilize market by increasing conforming loan limits permanently
introduced HR 5958, the Homeowner Opportunity Act, making permanent the increase to FHA and conforming loan limits for high-cost areas. The bill will be considered as an amendment to the larger housing stimulus bill. ...
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