[Congressional Record Volume 166, Number 218 (Monday, December 21, 2020)]
[Senate]
[Pages S7948-S7949]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2731. Mr. WARNER (for Mr. Rounds (for himself and Mr. Warner)) 
submitted an amendment intended to be proposed by Mr. Warner to the 
bill H.R. 133, to promote economic partnership and cooperation between 
the United States and Mexico; which was ordered to lie on the table; as 
follows:

       At the appropriate place, insert the following:

     SEC. ___. ENTERPRISE REGULATORY CAPITAL FRAMEWORK RULE.

       (a) Definitions.--In this section--
       (1) the term ``enterprise'' means--
       (A) the Federal National Mortgage Association; and
       (B) the Federal Home Loan Mortgage Corporation; and
       (2) the term ``final rule'' means the final rule adopted by 
     the Federal Housing Finance Agency entitled ``Enterprise 
     Regulatory Capital Framework''.
       (b) Study and Report Required.--Not later than 180 days 
     after the date of enactment of this Act, the Comptroller 
     General of the United States shall submit to Congress a 
     report containing the results of a study regarding the effect 
     that the final rule would have on the following:
       (1) With respect to the mortgage finance system of the 
     United States--

[[Page S7949]]

       (A) the stability and resiliency of that system;
       (B) the liquidity of investment with respect to that 
     system; and
       (C) the relationship of that system with private capital.
       (2) The taxpayers of the United States.
       (3) The counter-cyclical role played by the enterprises.
       (4) The cost and availability of mortgage credit for the 
     purchase of single-family and multi-family residences.
       (5) Interested parties, including--
       (A) potential sources of private capital supporting 
     mortgage finance;
       (B) investors in mortgage-backed securities and insurance 
     markets;
       (C) market participants, including originators of mortgage 
     loans, servicers of mortgage loans, and sources of 
     alternative funding with respect to mortgage finance; and
       (D) purchasers of homes, including first-time and 
     historically underserved borrowers.
       (6) The enterprises, including the effect that the final 
     rule would have on the enterprises--
       (A) while the enterprises are in conservatorship;
       (B) if the enterprises were no longer in conservatorship; 
     and
       (C) during a transition between the states described in 
     subparagraphs (A) and (B).
       (c) Effect of Rule.--The final rule shall not take effect 
     until the date that is 180 days after the date on which the 
     Comptroller General of the United States submits the report 
     required under subsection (b).
                                 ______