3.0.0 376 2022-02-03T06:05:04Z 2022-02-03T06:05:04Z Senate S S 2009-02-04 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2009-02-04T19:17:28Z 2009-02-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S1544) IntroReferral 2009-02-04 Sponsor introductory remarks on measure. (CR S1543-1544) IntroReferral B00100 9 Library of Congress 2009-02-04 Introduced in Senate IntroReferral 10000 9 Library of Congress R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. N D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN 2009-02-04 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2009-02-04 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2009-02-04 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2009-02-04 True K000105 Sen. Kennedy, Edward M. [D-MA] EDWARD KENNEDY D MA MOORE 2009-02-04 True Housing and Community Development Financial crises and stabilization Financial services and investments Housing finance and home ownership Income tax rates Real estate business Housing and Community Development 00 2009-02-04 Introduced in Senate 2009-03-20T21:19:52Z Real Estate Mortgage Investment Conduit Improvement Act of 2009 - Establishes special rules for modification or disposition of a troubled asset (qualified mortgages or foreclosure property) under the Troubled Asset Relief Program (TARP) by real estate mortgage investment conduits (REMICs).

Declares that: (1) such a modification or disposition shall not be treated as a prohibited transaction under the Internal Revenue Code; (2) an interest in the REMIC shall not fail to be treated as a regular interest solely because of such modification or disposition; and (3) any proceeds resulting from such modification or disposition shall be treated as amounts received under qualified mortgages.

Specifies terms of the instruments governing the conduct of servicers or trustees with respect to qualified mortgages which shall terminates a REMIC.

Directs the Secretary of the Treasury to establish and implement a home mortgage loan relief program under TARP.

]]> Real Estate Mortgage Investment Conduit Improvement Act of 2009 Short Titles as Introduced Real Estate Mortgage Investment Conduit Improvement Act of 2009 Display Title Real Estate Mortgage Investment Conduit Improvement Act of 2009 Official Title as Introduced A bill to provide rules for the modification or disposition of certain assets by real estate mortgage investment conduits pursuant to division A of the Emergency Economic Stabilization Act of 2008, and for other purposes. Introduced in Senate 2009-02-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s376is/xml/BILLS-111s376is.xml 2009-02-04 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S1544) 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.