S. 488 · 112th Congress
REIP Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CardinSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Reduce Excessive Interest Payments Act or REIP Act - Amends the National Housing Act to prohibit each mortgagee (or servicer) from imposing, and the Secretary of Housing and Urban Development (HUD) from requiring imposition of, any interest charge on an insured mortgage as a result of the loss of any time period provided by the mortgagee (or servicer)…
What it does: CRS summary · Introduced in Senate · Mar 3, 2011
Reduce Excessive Interest Payments Act or REIP Act - Amends the National Housing Act to prohibit each mortgagee (or servicer) from imposing, and the Secretary of Housing and Urban Development (HUD) from requiring imposition of, any interest charge on an insured mortgage as a result of the loss of any time period provided by the mortgagee (or servicer) within which the mortgagor may fully repay the principal balance amount of the mortgage, with respect to: (1) any days in the preceding billing cycle in which such amounts were repaid, or (2) any amounts repaid in the current billing cycle that were repaid within such time period.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Reduce Excessive Interest Payments Act
Latest action (Mar 3, 2011): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Housing and Community Development · Origin: Senate · Introduced: Mar 3, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.