U.S. Congress - H.R.2588 Housing Opportunity and Mortgage Equity Act of 2009
H.R.2588 - Housing Opportunity and Mortgage Equity Act of 2009
To prevent foreclosure of home mortgages and increase the availability of affordable new mortgages and affordable refinancing of mortgages held by Fannie Mae and Freddie Mac. view all titles (2)
All Bill Titles
- Short: Housing Opportunity and Mortgage Equity Act of 2009 as introduced.
- Official: To prevent foreclosure of home mortgages and increase the availability of affordable new mortgages and affordable refinancing of mortgages held by Fannie Mae and Freddie Mac. as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
Bill's Views
- Today: 1
- Past Seven Days: 2
- All-Time: 632
|
|
|
|
|
|
|
|
Committees
Official Summary
5/21/2009--Introduced.Housing Opportunity and Mortgage Equity Act of 2009 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the enterprises) each to implement a program to purchase and securitize qualified new morOfficial Summary
5/21/2009--Introduced.Housing Opportunity and Mortgage Equity Act of 2009 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the enterprises) each to implement a program to purchase and securitize qualified new mortgages on single-family housing in accordance with policies and procedures established by the Director of the Federal Housing Finance Agency (FHFA). Sets forth requirements for the purchase and securitization of qualified new mortgages. Terminates the requirement for the enterprises to purchase mortgages two years after the enactment of this Act. Directs Fannie Mae and Freddie Mac each to implement a program to provide for the refinancing of qualified mortgages on single-family housing they own and for the purchase and securitization of such refinancing mortgages in accordance with policies and procedures established by the FHFA Director. Terminates this requirement two years after enactment of this Act. Authorizes the Secretary of the Treasury to purchase securities issued by the enterprises under this Act and such other obligations as the enterprises may issue to carry out this Act. Authorizes the Secretary also, for the purpose of purchasing any such securities and obligations, to use as a public debt transaction the proceeds from the sale of other public debt securities. Treats all redemptions, purchases, and sales by the Secretary of obligations under this Act as public debt transactions of the United States. Limits to $10 billion the aggregate principal amount of outstanding obligations and securities purchased by the Secretary under this Act....Read the Rest
Recent News Coverage
Hmmmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.
Recent Blog Coverage
H.R.2588: Housing Opportunity and Mortgage... OpenCongress
HR2588 Housing Opportunity and Mortgage Equity Act of 2009 on OpenCongress.
WashingtonWatch.com - H.R. 2588, The Housing Opportunity and ...
US Congress: HR 2588, The Housing Opportunity and Mortgage Equity Act of 2009.
Vote on This Bill
-
Share This Bill
More Share via Email
