Housing Opportunity and Mortgage Equity Act of 2011

Summary

Housing Opportunity and Mortgage Equity Act of 2011 - 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. 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. Requires a GSE to pay a fee of up to $1,000 to the servicer of a qualified mortgage refinance. Prohibits any requirement of a property appraisal.

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

Timeline

1. 20 January 2011

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 20 January 2011

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 January 2011

   Introduced

   Introduced in House

   Source: IntroReferral

4. 23 March 2011

   Referred

   Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 January 2011 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 January 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 January 2011

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 20 January 2011

  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. Cardoza, Dennis A. [D-CA-18] · D · Sponsor
• Rep. Larson, John B. [D-CT-1] · D · Sponsor
• Rep. Castor, Kathy [D-FL-14] · D · Sponsor
• Rep. Thompson, Mike [D-CA-4] · D · Sponsor
• Rep. DeLauro, Rosa L. [D-CT-3] · D · Sponsor
• Rep. Napolitano, Grace F. [D-CA-32] · D · Sponsor
• Rep. Sires, Albio [D-NJ-13] · D · Sponsor
• Rep. Costa, Jim [D-CA-21] · D · Sponsor
• Rep. Berkley, Shelley [D-NV-1] · D · Sponsor
• Rep. Baca, Joe [D-CA-43] · D · Sponsor
• Rep. McNerney, Jerry [D-CA-9] · D · Sponsor
• Rep. Sutton, Betty [D-OH-13] · D · Sponsor
• Rep. Woolsey, Lynn C. [D-CA-6] · D · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• Rep. Garamendi, John [D-CA-8] · D · Sponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Rep. Stark, Fortney Pete [D-CA-13] · D · Sponsor
• Rep. Wasserman Schultz, Debbie [D-FL-25] · D · Sponsor
• Sen. Welch, Peter [D-VT] · D · Sponsor
• Rep. Filner, Bob [D-CA-51] · D · Sponsor
• Rep. Richardson, Laura [D-CA-37] · D · Sponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Sponsor
• Rep. Quigley, Mike [D-IL-5] · D · Sponsor
• Rep. Cicilline, David N. [D-RI-1] · D · Cosponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Cosponsor
• Rep. Hastings, Alcee L. [D-FL-20] · D · Cosponsor
• Rep. Towns, Edolphus [D-NY-10] · D · Cosponsor
• Del. Christensen, Donna M. [D-VI-At Large] · D · Cosponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Cosponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Matsui, Doris O. [D-CA-7] · D · Cosponsor
• Rep. Davis, Susan A. [D-CA-53] · D · Cosponsor
• Rep. Farr, Sam [D-CA-20] · D · Cosponsor
• Rep. Speier, Jackie [D-CA-14] · D · Cosponsor
• Rep. Berman, Howard L. [D-CA-28] · D · Cosponsor
• Rep. Sherman, Brad [D-CA-32] · D · Cosponsor
• Rep. Blumenauer, Earl [D-OR-3] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to ← Flexible Refinancing for American Families Act of 2012
• related to ← Helping Responsible Homeowners Act