3.0.0 1036 2023-01-11T13:28:42Z 2023-01-11T13:28:42Z House HR 2015-02-24 114 [Congressional Record Volume 161, Number 31 (Tuesday, February 24, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CAPUANO:H.R. 1036.Congress has the power to enact this legislation pursuantto the following:Article I, section 8, clause 1 (relating to the generalwelfare of the United States); and Article I, section 8,clause 3 (relating to the power to regulate interstatecommerce).[Page H1115]]]> hsba00 Financial Services Committee House Standing Referred to 2015-02-24T17:00:47Z 2015-02-24 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-02-24 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-02-24 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 N Finance and Financial Sector Financial crises and stabilization Government corporations and government-sponsored enterprises Government lending and loan guarantees Housing finance and home ownership Interest, dividends, interest rates Securities Finance and Financial Sector 00 2015-02-24 Introduced in House 2015-03-10T14:20:01Z Let the GSEs Pay Us Back Act of 2015

Directs the Secretary of the Treasury, the Federal National Mortgage Association (Fannie Mae) and any affiliate, and the Federal Home Loan Mortgage Corporation (Freddie Mac) and any affiliate (government sponsored enterprises or GSEs), with each GSE acting through an appointed conservator, to enter into an agreement that modifies the Preferred Stock Purchase Agreement for the GSE to provide that: (1) any Senior Preferred Stock purchased under the Agreement by the Treasury shall not accrue further dividends; and (2) any amounts received by the GSE, before or after the modification, during a single year as a draw upon the Treasury's commitment under the Agreement shall be treated as a loan by the Treasury to the GSE meeting specified criteria.

Specifies as such criteria that this loan be treated as though originated on the date of the last such draw during that year, with: (1) an original principal obligation equal to the aggregate amount of such draws, (2) a 30-year term, (3) an annual interest rate of 5%, and (4) requirements for full amortization of the loan over the 30-year term. Requires the GSE to repay the loan in accordance with the amortization schedule established.

Requires any dividends paid by the GSE to the Treasury under the Agreement before the modification to be treated as payments of principal and interest due under the loan, to be credited against payments due: (1) first to the loan with the earliest origination date that has not yet been fully repaid until it is repaid, and (2) then to the loan having the next earliest origination date until it is repaid.

]]> Let the GSEs Pay Us Back Act of 2015 Display Title Let the GSEs Pay Us Back Act of 2015 Official Title as Introduced To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a 30-year period, and for other purposes. Introduced in House IH Short Titles as Introduced Let the GSEs Pay Us Back Act of 2015 Introduced in House 2015-02-24T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1036ih/xml/BILLS-114hr1036ih.xml 2015-02-24 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.