H.R. 2575 · 108th Congress
Secondary Mortgage Market Enterprises Regulatory Improvement Act
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BakerSponsor20 cosponsors · 20 R
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Bachus
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Brown-Waite
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Cox
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Gillmor
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Hoekstra
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Hart
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Harris
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Hensarling
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Jones
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King
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Leach
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Linder
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Lucas
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Manzullo
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Miller
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Ryan
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Renzi
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Shays
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Toomey20 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Secondary Mortgage Market Enterprises Regulatory Improvement Act - Amends the Home Owners' Loan Act to rename the Office of Thrift Supervision as the Office of Housing Finance Supervision.
What it does: CRS summary · Introduced in House · Jun 24, 2003
Amends the Housing and Community Development Act of 1992 to transfer supervisory and regulatory authority over specified government sponsored enterprises (Fannie Mae and Freddie Mac) to the Director of the Office of Housing Finance Supervision from the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) and from the Secretary of Housing and Urban Development.
Requires the Director to ensure that the enterprises operate in a financially safe manner and remain adequately capitalized.
Sets forth operating, administrative, and regulatory provisions, including: (1) public disclosure of information; (2) assessment authority; (3) authority to limit nonmission-related assets and set specified conforming loan limits; (4) establishment of a housing price index; (5) minimum and critical capital levels; (6) risk-based capital test; (7) capital classifications and undercapitalized enterprises; (8) receivership; (9) enforcement actions and penalties; and (10) reporting.
Sets forth retained and new authorities of the Secretary.
Abolishes the Office of Federal Housing Enterprise Oversight. Sets forth related transfer of personnel and facility and property provisions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Secondary Mortgage Market Enterprises Regulatory Improvement Act
Latest action (Sep 25, 2003): Committee Hearings Held.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 24, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.