Responsible Homeowner Refinancing Act of 2012

Summary

Responsible Homeowner Refinancing Act of 2012 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to: (1) borrower eligibility, (2) representations and warranties, (3) prohibition on up-front fees, (4) alternative streamlined methods to determine the value of a property, (5) the purchase or guarantee of any new mortgage resulting from the refinancing of an eligible mortgage, and (6) guarantee fees. Requires the GSEs to notify all borrowers with a mortgage owned or guaranteed by a GSE about the Program and its eligibility criteria, and inform borrowers of the website required below. Directs the Director of the Federal Housing Finance Agency (FHFA) to establish a single website where borrowers may: (1) determine their potential eligibility for participation in the Program, (2) see a complete list of and links to qualified lenders, (3) use a mortgage refinance calculator to calculate potential payment savings based on different interest rates, and (4) obtain tips on refinancing their loan. Directs the Director of FHFA to issue guidance to require the GSEs to make their refinancing guidelines consistent to ease the compliance requirements of qualified lenders, and in particular with respect to loans with less than 80% loan-to-value ratio and closing cost policies of the GSEs, which regulations or guidance shall be put into effect not later than 90 days after the enactment of this Acts.

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

Timeline

1. 10 September 2012

   Introduced

   Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

   Source: Calendars

2. 10 September 2012

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 11 September 2012

   Calendars

   Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 503.

   Source: Calendars

Votes

No vote records are attached yet.

Versions

• Placed on Calendar Senate · 11 September 2012 · Download file

Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 11 September 2012

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 11 September 2012

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 10 September 2012

  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

• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Sen. Boxer, Barbara [D-CA] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Durbin, Richard J. [D-IL] · D · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Gillibrand, Kirsten E. [D-NY] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Lautenberg, Frank R. [D-NJ] · D · Sponsor
• Sen. Franken, Al [D-MN] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Sen. Begich, Mark [D-AK] · D · Cosponsor
• Sen. Hagan, Kay R. [D-NC] · D · Cosponsor
• Sen. Blumenthal, Richard [D-CT] · D · Cosponsor
• Sen. Landrieu, Mary L. [D-LA] · D · Cosponsor
• Sen. Levin, Carl [D-MI] · D · Cosponsor
• Sen. Akaka, Daniel K. [D-HI] · D · Cosponsor
• Sen. Shaheen, Jeanne [D-NH] · D · Cosponsor
• Sen. Whitehouse, Sheldon [D-RI] · D · Cosponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Cosponsor

Related records

• related to → Responsible Homeowners Refinancing Act of 2012
• related to → Responsible Homeowner Refinancing Act of 2012