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  <bill>
    <number>488</number>
    <updateDate>2019-02-20T22:59:10Z</updateDate>
    <updateDateIncludingText>2019-02-23T21:33:42Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2011-03-03</introducedDate>
    <congress>112</congress>
    <committees>
      <item>
        <systemCode>ssbk00</systemCode>
        <name>Banking, Housing, and Urban Affairs Committee</name>
        <chamber>Senate</chamber>
        <type>Standing</type>
        <activities>
          <item>
            <name>Referred to</name>
            <date>2011-03-03T23:15:24Z</date>
          </item>
        </activities>
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    </committees>
    <actions>
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        <actionDate>2011-03-03</actionDate>
        <committees>
          <item>
            <systemCode>ssbk00</systemCode>
            <name>Banking, Housing, and Urban Affairs Committee</name>
          </item>
        </committees>
        <sourceSystem>
          <name>Senate</name>
        </sourceSystem>
        <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
        <type>IntroReferral</type>
      </item>
      <item>
        <actionDate>2011-03-03</actionDate>
        <text>Introduced in Senate</text>
        <type>IntroReferral</type>
        <actionCode>10000</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
        </sourceSystem>
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    </actions>
    <sponsors>
      <item>
        <bioguideId>C000141</bioguideId>
        <fullName>Sen. Cardin, Benjamin L. [D-MD]</fullName>
        <firstName>Ben</firstName>
        <lastName>Cardin</lastName>
        <party>D</party>
        <state>MD</state>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <cosponsors>
      <item>
        <bioguideId>I000055</bioguideId>
        <fullName>Sen. Isakson, Johnny [R-GA]</fullName>
        <firstName>Johnny</firstName>
        <lastName>Isakson</lastName>
        <party>R</party>
        <state>GA</state>
        <sponsorshipDate>2011-03-10</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
    </cosponsors>
    <policyArea>
      <name>Housing and Community Development</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Housing finance and home ownership</name>
        </item>
        <item>
          <name>Interest, dividends, interest rates</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Housing and Community Development</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2011-03-03</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2011-03-16T14:31:32Z</updateDate>
        <text><![CDATA[ <p>Reduce Excessive Interest Payments Act or REIP Act - Amends the National Housing Act to prohibit each mortgagee (or servicer) from imposing, and the Secretary of Housing and Urban Development (HUD) from requiring imposition of, any interest charge on an insured mortgage as a result of the loss of any time period provided by the mortgagee (or servicer) within which the mortgagor may fully repay the principal balance amount of the mortgage, with respect to: (1) any days in the preceding billing cycle in which such amounts were repaid, or (2) any amounts repaid in the current billing cycle that were repaid within such time period.</p>]]></text>
      </summary>
    </summaries>
    <title>Reduce Excessive Interest Payments Act</title>
    <titles>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>REIP Act</title>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Reduce Excessive Interest Payments Act</title>
      </item>
      <item>
        <titleType>Display Title</titleType>
        <title>Reduce Excessive Interest Payments Act</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to require the FHA to equitably treat homebuyers who have repaid in full their FHA-insured mortgages, and for other purposes.</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in Senate</type>
        <date>2011-03-03T05:00:00Z</date>
        <formats>
          <item>
            <url>https://www.govinfo.gov/content/pkg/BILLS-112s488is/xml/BILLS-112s488is.xml</url>
          </item>
        </formats>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2011-03-03</actionDate>
      <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
    </latestAction>
  </bill>
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    <dc:language>EN</dc:language>
    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>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.</dc:description>
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