H.R. 1331 · 111th Congress
Responsible, Equitable, and Fair Insurance for Homeowners Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CapitoSponsor3 cosponsors · 3 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Responsible, Equitable, and Fair Insurance for Homeowners Act of 2009 or the REFI for Homeowners Act of 2009 - Amends the National Housing Act to direct the Secretary of Housing and Urban Development (HUD) to insure any mortgage covering a troubled homeowner's one- to four-family primary residence that is made to pay or prepay (refinance) outstanding…
What it does: CRS summary · Introduced in House · Mar 5, 2009
Responsible, Equitable, and Fair Insurance for Homeowners Act of 2009 or the REFI for Homeowners Act of 2009 - Amends the National Housing Act to direct the Secretary of Housing and Urban Development (HUD) to insure any mortgage covering a troubled homeowner's one- to four-family primary residence that is made to pay or prepay (refinance) outstanding obligations under an existing mortgage or mortgages meeting specified requirements.
Prohibits the refinancing of liar loans, zero-down loans, or loans with equity removed.
Authorizes the Board of Governors of the Federal Reserve System, the Secretary of the Treasury, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) to purchase mortgage-backed securities guaranteed by the Government National Mortgage Association (GNMA [Ginnie Mae]) that are either backed by loans originated under this Act, or whole loans originated and purchased under this Act. Authorizes GNMA to hold, sell, and securitize such whole loans.
Amends the Emergency Economic Stabilization Act of 2008 (EESA) to reduce Troubled Asset Relief Program (TARP) funds to offset costs of this Program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: REFI for Homeowners Act of 2009
Latest action (Mar 5, 2009): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Mar 5, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.