3.0.0 1712 2023-01-11T13:23:17Z 2023-01-11T13:23:17Z House H HR 2013-04-24 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McNERNEY:H.R. 1712.Congress has the power to enact this legislation pursuantto the following:Section 8 of Article 1 of the U.S. Constitution[Page H2299]]]> hsba00 Financial Services Committee House Standing Referred to 2013-04-24T14:01:40Z 2013-04-24 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-04-24 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-04-24 Introduced in House IntroReferral 1000 9 Library of Congress M001166 Rep. McNerney, Jerry [D-CA-9] Jerry McNerney D CA 9 N M001163 Rep. Matsui, Doris O. [D-CA-6] Doris Matsui D CA O. 6 2013-04-24 True C001059 Rep. Costa, Jim [D-CA-16] Jim Costa D CA 16 2013-04-24 True H001034 Rep. Honda, Michael M. [D-CA-17] MICHAEL HONDA D CA M. 17 2013-04-24 True J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2013-04-24 True Housing and Community Development Government corporations and government-sponsored enterprises Housing finance and home ownership Interest, dividends, interest rates User charges and fees Housing and Community Development 00 2013-04-24 Introduced in House 2013-05-09T18:39:07Z Housing Opportunity and Mortgage Equity Act of 2013 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) each to carry out a one-year program providing for the refinancing of qualified single-family housing mortgages it owns through a refinancing mortgage (and for the purchase of and securitization of such refinancing mortgages) in accordance with this Act and the policies and procedures of the Federal Housing Finance Agency (FHFA).

Defines a qualified mortgage as one, regardless of whether the mortgagor is current on payments due or in default, that: (1) is an existing first mortgage for purchase of, or refinancing another first mortgage on, a one- to four-family dwelling, including a condominium or a share in a cooperative ownership housing association, that is occupied by the mortgagor as principal residence; (2) is owned or guaranteed by the particular GSE; and (3) was originated on or before enactment of this Act.

Specifies the terms and conditions of a refinancing mortgage, including a 40-year term to maturity and a prohibition on borrower fees. Requires waiver or forgiveness of all fees and penalties related to any default or delinquency on the original mortgage.

Authorizes the FHFA Director, in his or her sole discretion, to require each enterprise to pay a servicer an appropriate fee for each qualified mortgage of an enterprise that the servicer refinances through a refinancing mortgage.

Prohibits any requirement of a property appraisal.

]]> Housing Opportunity and Mortgage Equity Act of 2013 Display Title Housing Opportunity and Mortgage Equity Act of 2013 Official Title as Introduced To prevent foreclosure of home mortgages and provide for the affordable refinancing of mortgages held by Fannie Mae and Freddie Mac. Introduced in House IH Short Titles as Introduced Housing Opportunity and Mortgage Equity Act of 2013 Introduced in House 2013-04-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1712ih/xml/BILLS-113hr1712ih.xml 2013-04-24 Referred to the House Committee on Financial Services. 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.