H.R. 5153 · 110th Congress
Conforming Loan Limit Temporary Adjustment Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KanjorskiSponsorNo cosponsors.
Conforming Loan Limit Temporary Adjustment Act of 2008 - Increases the maximum original principal obligation of certain mortgages originated between July 1, 2007, and December 31, 2008, that may be purchased by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation Association (Freddie Mac).
What it does: CRS summary · Introduced in House · Jan 29, 2008
Conforming Loan Limit Temporary Adjustment Act of 2008 - Increases the maximum original principal obligation of certain mortgages originated between July 1, 2007, and December 31, 2008, that may be purchased by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation Association (Freddie Mac).
Allows a loan whose principal amount is 125% of the area median price for a residence of applicable size, up to 175% of the regular loan limitation.
Expresses the sense of Congress that: (1) securitization of mortgages by Fannie Mae and Freddie Mac plays an important role in providing liquidity to the U.S. housing markets; and (2) Congress, therefore, encourages Fannie Mae and Freddie Mac to securitize mortgages acquired under the increased conforming loan limits established in this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Conforming Loan Limit Temporary Adjustment Act of 2008
Latest action (Jan 29, 2008): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Jan 29, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.