3.0.0 2588 2023-01-11T13:19:08Z 2023-01-11T13:19:08Z House H HR 2009-05-21 111 hsba00 Financial Services Committee House Standing Referred to 2009-05-21T14:05:42Z 2009-05-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-05-21 Introduced in House IntroReferral 1000 9 Library of Congress C001050 Rep. Cardoza, Dennis A. [D-CA-18] Dennis Cardoza D CA A. 18 N C001059 Rep. Costa, Jim [D-CA-20] Jim Costa D CA 20 2009-05-21 True Housing and Community Development Administrative law and regulatory procedures Federal Housing Finance Agency Government corporations and government-sponsored enterprises Government lending and loan guarantees Housing finance and home ownership Securities Housing and Community Development 00 2009-05-21 Introduced in House 2009-07-06T19:38:24Z 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.

]]> Housing Opportunity and Mortgage Equity Act of 2009 Display Title Housing Opportunity and Mortgage Equity Act of 2009 Official Title as Introduced 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. Introduced in House IH Short Titles as Introduced Housing Opportunity and Mortgage Equity Act of 2009 Introduced in House 2009-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2588ih/xml/BILLS-111hr2588ih.xml 2009-05-21 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.