A bill to amend the Federal Home Loan Mortgage Corporation Act to establish a new secondary market program under which the Federal Home Loan Mortgage Corporation may provide needed liquidity for the savings and loan industry by purchasing older seasoned home mortgages from savings and loan associations and other financial institutions.

referredUnited States· United States Congress· EN

Introduced

14 January 1975

Last action

—

Status

Referred to House Committee on Banking, Currency and Housing.

Summary

Establishes, under the Federal Home Loan Mortgage Corporation Act, a secondary market program under which the Federal Home Loan Mortgage Corporation may provide needed liquidity for the savings and loan industry by purchasing older seasoned home mortgages from savings and loan associations and other financial institutions. States that the maximum aggregate amount of mortgages that may be purchased by the Corporation from any one savings and loan association or other financial institution shall not exceed $20,000,000.

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Documents

1 official file

Introduced in House
summary · EN · 14 January 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/470
Open data entity: https://api.congress.gov/v3/bill/94/hr/470