3.0.0 2080 2019-02-20T23:25:28Z 2022-02-08T17:27:15Z Senate S S 2012-02-09 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2012-02-09T14:55:54Z Neighborhood Preservation Act of 2011 112 2636 HR 2011-08-22 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Related bill CRS 2012-02-09 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2012-02-09 Sponsor introductory remarks on measure. (CR S496-497) IntroReferral B00100 9 Library of Congress 2012-02-09 Introduced in Senate IntroReferral 10000 9 Library of Congress H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV N Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Federal preemption Government corporations and government-sponsored enterprises Housing finance and home ownership National Credit Union Administration Real estate business Finance and Financial Sector 00 2012-02-09 Introduced in Senate 2012-04-11T21:20:13Z
Keeping Families in their Home Act of 2012 - Amends the Federal Deposit Insurance Act to authorize any depository institution (or affiliate) to lease, including lease with an option to purchase or a right of first refusal, to any individual for up to five years an interest in residential property which: (1) was or is security for an extension of credit by such depository institution (or affiliate), and (2) came under the institution's or affiliate's ownership or control through foreclosure (or a deed in lieu of foreclosure) on the extension of credit.

Preempts any federal or state law that would: (1) restrict the time during which a depository institution or its affiliate may hold or lease property, or (2) prohibit a depository institution or its affiliate from leasing property.

Directs the federal banking agencies to prescribe specified joint safety and soundness regulations, including minimum capital requirements for such institutions or affiliates.

Permits extension of such a lease beyond five years if any federal or state law, including the Bank Holding Company Act of 1956, so permits.

Applies this Act only to leases entered into during the three-year period beginning on the date of the enactment of this Act.

Declares it is the intent of Congress that: (1) no permanent change in policy on leasing foreclosed property is being established with respect to depository institutions and depository institution holding companies, and (2) bank leasing of foreclosed property authorized under this Act should not apply to leases entered into after such three-year period.

Authorizes a government-sponsored enterprise (the Federal National Mortgage Association [Fannie Mae] or the Federal Home Loan Mortgage Corporation [Freddie Mac]) to market for rental, before sale, any of its real estate owned properties and assets as the Federal Housing Finance Agency (FHFA) determines appropriate. Restricts lease agreements to five years.


]]> Keeping Families in their Home Act of 2012 Short Titles as Introduced Keeping Families in their Home Act of 2012 Display Title Keeping Families in their Home Act of 2012 Official Title as Introduced A bill to authorize depository institutions, depository institution holding companies, Fannie Mae, and Freddie Mac to lease foreclosed property held by such entities for up to 5 years, and for other purposes. Introduced in Senate 2012-02-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s2080is/xml/BILLS-112s2080is.xml 2012-02-09 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.