Flexible Refinancing for American Families Act of 2012

referredUnited States· United States Congress· EN

Introduced

10 September 2012

Last action

1 October 2012 · Referred

Status

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

Summary

Flexible Refinancing for American Families Act of 2012 - 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 having a 50-year term (and for the purchase of and securitization of such refinancing mortgages) in accordance with this Act and the policies and procedures that the Director of the Federal Housing Finance Agency shall establish. Permits the mortgagee, however, upon written 90-day advance notice to the mortgagor, to require payment in full of a 50-year mortgage only 30 years after the beginning of its amortization. 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 50-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

10 September 2012
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
10 September 2012
Introduced
Introduced in House
Source: IntroReferral
10 September 2012
Introduced
Introduced in House
Source: IntroReferral
1 October 2012
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 · 10 September 2012 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 10 September 2012
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Introduced in House (PDF)
Introduced in House · EN · 10 September 2012
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Introduced in House
summary · EN · 10 September 2012
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
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Related records

related to → Housing Opportunity and Mortgage Equity Act of 2011

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/112th-congress/house-bill/6366
Open data entity: https://api.congress.gov/v3/bill/112/hr/6366
us · 112-hr-6366 · source updated 14 August 2025