H.R. 5361 · 111th Congress
Responsible GSE Affordable Housing Investment Act of 2010
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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.
D
MaloneySponsor4 cosponsors · 4 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Responsible GSE Affordable Housing Investment Act of 2010 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to revise requirements for determination of compliance with the multifamily special affordable housing goal.
What it does: CRS summary · Introduced in House · May 20, 2010
Responsible GSE Affordable Housing Investment Act of 2010 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to revise requirements for determination of compliance with the multifamily special affordable housing goal.
Requires the Director of the Federal Housing Finance Agency to establish standards for the multifamily special affordable housing goal that proportionately reduce the number of units receiving credit for any mortgage purchase by the Federal Home Loan Mortgage Corporation (Freddie Mac) or the Federal Home Loan Mortgage Association (Fannie Mae) (government-sponsored enterprises or GSEs) that facilitates the conversion of dwelling units available at rental rates affordable to low-income families to dwelling units such families could not afford.
Requires such standards to provide no credit toward achievement of the goal for any mortgage purchase for multifamily housing that involves an aggregate amount of project debt that is not reasonable. Requires the Director to require the GSE to apply this same standard to any mortgages backing any GSE-purchased security to determine whether the units financed by such mortgages are eligible for credit toward achievement of the housing goal.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Responsible GSE Affordable Housing Investment Act of 2010
Latest action (May 20, 2010): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: May 20, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.