Legislation
Posted by
on
April 13, 2011
The legislation, introduced by Insurance, Housing and Community Opportunity Subcommittee Chairman Judy Biggert, enhances the authority of FHFA’s Inspector General and expands reporting requirements to Congress.
On April 6, 2011, the Capital Markets Subcommittee approved H.R. 31 on a voice vote.
Posted by
on
April 13, 2011
For years, the Federal government used the GSEs to make homeownership available to people who posed a greater credit risk and would not have otherwise been able to obtain mortgage credit. GSE-manufactured demand boosted home prices to artificially high levels and fostered enthusiasm for the wave of exotic mortgage products that began to flood the market. In light of the risks created by requiring the GSEs to promote affordable homeownership, this bill repeals the GSEs’ affordable housing goals. The legislation is sponsored by Rep. Ed Royce.
On April 6, 2011 the Capital Markets Subcommittee approved H.R. 1226 on a voice vote.
Posted by
on
April 13, 2011
The legislation, introduced by Rep. David Schweikert, prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. This restriction will reduce Fannie Mae’s and Freddie Mac’s market dominance and limit their size.
On April 6, 2011, the Capital Markets Subcommittee approved H.R. 1227 on a voice vote.
Posted by
on
April 13, 2011
The Small Company Capital Formation Act encourages small companies to access the capital markets — allowing them to invest and hire employees. The legislation increases the offering threshold for companies exempted from SEC registration under SEC Regulation A from $5 million — the threshold set in the early 1990s — to $50 million. The SEC has the authority to raise this threshold but has not done so for almost two decades. The bill is spnsored by Representative David Schweikert.
Posted by
on
April 11, 2011
The legislation, introduced by Rep. Steve Pearce, requires the Treasury Department to approve any new debt issuance by the GSEs. If Treasury approves a debt issuance, it must explain and justify its decision to Congress and the FHFA within seven days. The legislation limits the amount of GSE risk taking.
H.R. 1225 was approved on a vote of 18-0-1 by the Capital Markets Subcommittee on April 6, 2011.
Posted by
on
February 28, 2011
H.R. 830, The FHA Refinance Program Termination Act:
H.R. 830, introduced by Rep. Robert Dold (R-IL) on February 28th, terminates the FHA Refinance Program and protects taxpayers from having $8 billion of their money from being spent on this ineffective program.
Click here to view a copy of the legislation. |