Affordable Housing Regulation Simplification Act of 2013

Summary

Affordable Housing Regulation Simplification Act of 2013 - Amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation Act to authorize the Federal Home Loan Mortgage Corporation (Freddie Mac), to purchase, service, sell, lend on the security of, and otherwise deal in affordable workforce housing mortgages for one-family residences: (1) that shall be used as the mortgagor's residence at least 8 of any 12 months and 240 days of any 365 days; (2) located within, or are part of, a multifamily housing development meeting certain requirements, (3) is subject to certain resale restrictions; and (4) is located in a high tourism area. Prescribes mortgagor income and employment criteria. Exempts such mortgages from any requirements and guidelines of such government sponsored entities (also known as GSEs) that are inconsistent with such authority. Limits the application of this Act to such mortgages in a high tourism area. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure any affordable workforce housing mortgage meeting certain requirements. Requires the Secretary of HUD to provide a spot approval process for insurance of condominium unit mortgages that does not require prior approval of the entire project or of the homeowners association for the entire project. Directs the Secretary of Commerce to: (1) determine high tourism areas; and (2) reassess and update such designation on a biennial basis

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 12 June 2013

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 12 June 2013

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 June 2013

   Introduced

   Introduced in House

   Source: IntroReferral

4. 14 June 2013

   Referred

   Referred to the Subcommittee on Commerce, Manufacturing, and Trade.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 June 2013 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 June 2013

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 June 2013

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 12 June 2013

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Polis, Jared [D-CO-2] · D · Sponsor
• · hsif00 · Standing
• · hsba00 · Standing

Related records

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