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United States · Bill · S

S. 2036 (110th)

Protecting Access to Safe Mortgages Act

referredUnited States· United States Congress· EN

Introduced

10 September 2007

Last action

Status

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Subjects

Discovery layer

Source updated

14 August 2025

Summary

Protecting Access to Safe Mortgages Act - Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to increase mortgage portfolio limitations placed upon: (1) the Federal National Mortgage Association (Fannie Mae); and (2) the Federal Home Loan Mortgage Corporation (Freddie Mac), respectively. Instructs the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development (HUD) to lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Decree; and (2) the voluntary temporary growth limitation described in a certain Freddie Mac Letter. Requires 50% of such portfolio increase to be used on loans which have had or will have interest rate resets between June 2005 and December 2009.

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Documents

3 official files

Introduced in Senate (text)

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Sources

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