3.0.0 3085 2019-02-20T23:32:09Z 2022-05-20T16:27:20Z Senate S S 2012-05-10 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2012-05-24T14:10:42Z Referred to 2012-05-10T20:07:09Z Responsible Homeowner Refinancing Act of 2012 112 6428 HR 2012-10-01 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Related bill CRS Responsible Homeowner Refinancing Act of 2012 112 3522 S 2012-09-11 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 503. Related bill CRS 2012-05-24 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-709. Committee 2012-05-10 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2012-05-10 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2012-05-10 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2012-05-10 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2012-05-10 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2012-05-10 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2012-05-10 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2012-05-10 True B001265 Sen. Begich, Mark [D-AK] Mark Begich D AK 2012-05-10 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2012-05-10 True L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2012-05-10 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2012-05-10 True L000261 Sen. Levin, Carl [D-MI] CARL LEVIN D MI MILTON 2012-06-05 False A000069 Sen. Akaka, Daniel K. [D-HI] DANIEL AKAKA D HI KOHIKINA 2012-06-06 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2012-07-17 False W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2012-07-30 False Housing and Community Development Government corporations and government-sponsored enterprises Government lending and loan guarantees Housing finance and home ownership Housing supply and affordability User charges and fees Housing and Community Development 00 2012-05-10 Introduced in Senate 2012-05-30T20:17:09Z Responsible Homeowners Refinancing Act of 2012 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to: (1) borrower eligibility, (2) representations and warranties, (3) prohibition on up-front fees, (4) alternative streamlined methods to appraise the value of a property, (5) an administrative penalty for lien-holder refusal to resubordinate junior liens, (6) carryover of mortgage insurance, and (7) guarantee fees.

Requires the GSE to notify all borrowers with a mortgage owned or guaranteed by a GSE about the Program and its eligibility criteria, and inform borrowers of the website required below.

Directs the Director of the Federal Housing Finance Agency (FHFA) to establish a single website where borrowers may: (1) determine their potential eligibility for participation in the Program, (2) see a complete list of and links to participating lenders, (3) use a mortgage refinance calculator to calculate potential payment savings based on different interest rates, and (4) obtain tips on refinancing their loan.

Directs the FHFA to issue guidelines to require the GSEs to make their refinancing guidelines consistent to ease lender compliance requirements, particularly with respect to: (1) loans with less than an 80% loan-to-value ratio, and (2) GSE closing cost policies.

]]> Responsible Homeowners Refinancing Act of 2012 Short Titles as Introduced Responsible Homeowners Refinancing Act of 2012 Display Title Responsible Homeowners Refinancing Act of 2012 Official Title as Introduced A bill to provide for the expansion of affordable refinancing of mortgages held by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Introduced in Senate 2012-05-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3085is/xml/BILLS-112s3085is.xml 2012-05-24 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-709. 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.