3.0.0 2425 2023-01-11T13:22:48Z 2023-01-11T13:22:48Z House H HR 2011-07-06 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. KAPTUR:H.R. 2425.Congress has the power to enact this legislation pursuantto the following:Article I. Section 8. Clause 3. and Article I. Section 8.Clause 18[Page H4672]]]> hsba00 Financial Services Committee House Standing hsba04 Housing and Insurance Subcommittee Referred to 2011-07-19T14:05:21Z hsba16 Capital Markets Subcommittee Referred to 2011-07-19T14:04:48Z Referred to 2011-07-06T18:00:10Z 2011-07-19 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Insurance, Housing and Community Opportunity. Committee 2011-07-19 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-07-06 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-07-06 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-07-06 Introduced in House IntroReferral 1000 9 Library of Congress K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 N G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2011-09-21 False C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2011-12-20 False Housing and Community Development Congressional oversight Government National Mortgage Association (Ginnie Mae) Government corporations and government-sponsored enterprises Government information and archives Government lending and loan guarantees Government studies and investigations Housing finance and home ownership Land transfers Securities Housing and Community Development 00 2011-07-06 Introduced in House 2011-07-08T20:59:32Z Transparency and Security in Mortgage Registration Act of 2011 - Amends the National Housing Act to prohibit the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from purchasing, acquiring, newly lending on the security of, newly investing in securities consisting of, or otherwise newly dealing in any Mortgage Electronic Registration System, Inc. (MERS) mortgage or mortgages.

Prohibits the Government National Mortgage Association (Ginnie Mae) from newly guaranteeing the payment of principal of or interest on any trust certificate or other security based or backed by a trust or pool that contains, or purchase or acquire, any MERS mortgage.

Directs Fannie Mae, Freddie Mac, and Ginnie Mae to require all their current MERS mortgages to be assigned to the proper servicer, holder, or creditor.

Directs the Secretary of Housing and Urban Development (HUD) to study: (1) the impacts of the lack of electronic records and uniform standards found in local land title recordation systems currently used in the various states; (2) any progress states have made in developing electronic land title recordation systems containing uniform standards; (3) the current oversight role of the federal government in the transfer and recordation of land titles; and (4) the feasibility of creating a federal land title recordation system for property transfers that would maintain all previous records of the land-property without invalidating, interfering with, or preempting state real property law governing the transfer and perfection of land title.



]]> Transparency and Security in Mortgage Registration Act of 2011 Display Title Transparency and Security in Mortgage Registration Act of 2011 Official Title as Introduced To prohibit Fannie Mae, Freddie Mac, and Ginnie Mae from owning or guaranteeing any mortgage that is assigned to the Mortgage Electronic Registration Systems or for which MERS is the mortgagee of record. Introduced in House IH Short Titles as Introduced Transparency and Security in Mortgage Registration Act of 2011 Introduced in House 2011-07-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2425ih/xml/BILLS-112hr2425ih.xml 2011-07-19 Referred to the Subcommittee on Insurance, Housing and Community Opportunity. 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.