s 46745 1192507200 false 1192507200 2169 282 110 300087

10/16/2007--Introduced.<br/>Promoting Refinancing Opportunities for Mortgages Impacted by the Subprime Emergency Act of 2007, or the PROMISE Act - Requires the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development to terminate, suspend, modify, or otherwise lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Decree (the OFHEO order dated May 23, 2006, in the matter of the Federal National Mortgage Association (Fannie Mae)); and (2) the voluntary temporary growth limitation described in the Freddie Mac Letter (dated July 31, 2006, from the Chairman and Chief Executive Officer of the Federal Home Loan Mortgage Corporation (Freddie Mac) to the OFHEO Director). Requires: (1) the Director to increase the mortgage portfolio limitations of both enterprises by at least 10%; and (2) the use of 85% of such increase for refinancing subprime mortgages at risk of foreclosure.<br/>

1192507200 2007-10-16 Fri Nov 07 16:50:33 -0600 2008 introduced 46745 'act':11 '2007':13 'emerg':10 'impact':6 'promot':1 'mortgag':5 'subprim':9 'opportun':3 'refinanc':2 54531 false short introduced 46745 'cap':8 'mac':12 'mae':15 'bill':2 'curb':22 'loan':37 'risk':31 'safe':35 'fanni':14 'afford':36 'applic':9 'borrow':33 'financ':20 'freddi':11 'provid':17 'purpos':41 'at-risk':29 'facilit':25 'increas':5 'subprim':32 'refinanc':27 'necessari':19 'portfolio':7 'foreclosur':23 'temporarili':4 52865 false official introduced 46745 'act':2 'promis':1 54530 false short introduced 46745 1192507200 Tue Oct 16 00:00:00 -0500 2007 132533 S000148 1950-11-23 313 Hart Senate Office Building http://schumer.senate.gov/new_website/contact.cfm 202-228-3027 Charles 'd':4 'ny':5 'sen':1 'charl':2,6,8 'schumer':3,7,9 M 300087 Schumer Charles_Schumer E. Sen. Charles Schumer [D, NY] N00001093 20298 Democrat 202-224-6542 Jewish NY Chuck Charles Schumer 2.24468085106383 http://schumer.senate.gov/ senatorschumer L000304 1942-02-24 706 Hart Senate Office Building http://lieberman.senate.gov/contact/ 202-224-9750 Joseph 'ct':5 'sen':1 'joseph':2,6,8 'lieberman':3,7,9 M 300067 Lieberman Joseph_Lieberman I. Sen. Joseph Lieberman [I, CT] N00000616 12641 Independent 202-224-4041 Jewish CT Joseph Lieberman 3.13253012048193 http://lieberman.senate.gov/ introduced 46745 1192507200 Tue Oct 16 00:00:00 -0500 2007 132533 action 46745 1192507200 Tue Oct 16 00:00:00 -0500 2007 132534 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.