Housing Finance Regulatory Improvement Act

Summary

Housing Finance Regulatory Improvement Act - Title I: Housing Finance Oversight Board - Subtitle A: Improvement of Supervision - Amends the Housing and Community Development Act of 1992 to establish the Housing Finance Oversight Board in lieu of the existing Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), the Federal Housing Finance Board, and specified government sponsored enterprise (enterprises) authority of the Secretary of Housing and Urban Development. Directs the Board to ensure that the enterprises and the Federal home loan banks (banks) operate in a financially safe manner and remain adequately capitalized. (Sec. 103) Provides for public disclosure of information that would increase the efficiency of the secondary mortgage market or the housing finance system. (Sec. 105) Subjects the banks to Board assessment authority. (Sec. 109) Eliminates specified enterprise regulatory authority of HUD. (Sec. 110) Grants the Board prior approval authority over new activities of the banks and enterprises. (Sec. 111) Authorizes the Board to limit enterprise and bank nonmission-related assets. (Sec. 112) Amends the Federal National Mortgage Association Charter Act to establish specified conforming loan limits. Amends the Housing and Community Development Act of 1992 to direct the Board to establish a housing price index. (Sec. 114) Amends the Federal Home Loan Bank Act to subject the banks to Board regulatory authority. Subtitle B: Reduction of Systematic Risk -Amends the Housing and Community Development Act of 1992 to subject enterprises to annual credit determinations. (Sec. 136) Amends the Federal National Mortgage Association Charter Act (Fannie Mae), the Home Loan Mortgage Corporation Act (Freddie Mac), and the Federal Home Loan Bank Act (banks) to eliminate Treasury credit line authority. (Sec. 139) Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. (Sec. 141) Directs the Federal Deposit Insurance Corporation to study the effects of enterprise failure on depository institutions. Subtitle C: General Provisions - Makes conforming amendments to specified Acts. Title II: Transfer of Functions, Personnel, and Property - Abolishes the (HUD) Office of Federal Housing Enterprise Oversight, and the Federal Housing Finance Board. Sets forth related transfer of personnel and facility and property provisions.

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

Timeline

1. 29 February 2000

   Introduced

   Introduced in House

   Source: IntroReferral

2. 29 February 2000

   Introduced

   Referred to the House Committee on Banking and Financial Services.

   Source: IntroReferral

3. 29 February 2000

   Introduced

   Sponsor introductory remarks on measure. (CR E197-199)

   Source: IntroReferral

4. 29 February 2000

   Introduced

   Introduced in House

   Source: IntroReferral

5. 22 March 2000

   Committee

   Subcommittee hearings held by the subcommittee on Capital Markets (Prior to Referral).

   Source: Committee

6. 31 March 2000

   Referred

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

   Source: Committee

7. 16 May 2000

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 15 June 2000

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 21 June 2000

   Committee

   Subcommittee Hearings Held.

   Source: Committee

10. 20 July 2000

    Committee

    Subcommittee Hearings Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 29 February 2000 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 February 2000

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 February 2000

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 29 February 2000

  Open at official source

Sponsors

• Rep. Baker, Richard H. [R-LA-6] · R · Sponsor
• Rep. Leach, James A. [R-IA-1] · R · Sponsor
• Rep. Linder, John [R-GA-7] · R · Cosponsor
• Pete Sessions · R · Cosponsor
• Sen. Toomey, Patrick [R-PA] · R · Cosponsor
• PAUL RYAN · R · Cosponsor
• Rep. Paul, Ron [R-TX-22] · R · Cosponsor
• WALTER JONES · R · Cosponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Cosponsor
• Rep. Ose, Doug [R-CA-3] · R · Cosponsor
• Rep. Riley, Bob [R-AL-3] · R · Cosponsor
• Rep. Metcalf, Jack [R-WA-2] · R · Cosponsor
• Rep. Biggert, Judy [R-IL-13] · R · Cosponsor
• Rep. Cook, Merrill [R-UT-2] · R · Cosponsor
• Rep. Hill, Rick [R-MT-At Large] · R · Cosponsor
• · hsba00 · Standing

Related records

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