H.R. 736 · 113th Congress
Responsible Homeowner Refinancing Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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WelchSponsor22 cosponsors · 22 D
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Bonamici
JC
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Costa
DC
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Cicilline
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Davis
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Ellison
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Schakowsky
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Sires
MC
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Capuano
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Murphy
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Holt
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Michaud
LS
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Slaughter
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Pallone
DT
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Titus
TC
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Cárdenas
JH
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Huffman
ZL
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Lofgren
AL
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Lowenthal
FW
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Wilson
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DeFazio
WE
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Enyart
CS
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Shea-Porter7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Responsible Homeowner Refinancing Act of 2013 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to: (1) borrower eligibility, (2) representations…
What it does: CRS summary · Introduced in House · Feb 14, 2013
Responsible Homeowner Refinancing Act of 2013 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to: (1) borrower eligibility, (2) representations and warranties, (3) prohibition on up-front fees, (4) alternative streamlined methods to determine the value of a property, (5) the purchase or guarantee of any new mortgage resulting from the refinancing of an eligible mortgage, and (6) guarantee fees.
Requires the GSEs to notify all borrowers with a mortgage owned or guaranteed by a GSE about the Program and its eligibility criteria, and inform borrowers of the website required below.
Directs the Director of the Federal Housing Finance Agency (FHFA) to establish a single website where borrowers may: (1) determine their potential eligibility for participation in the Program, (2) see a complete list of and links to qualified lenders, (3) use a mortgage refinance calculator to calculate potential payment savings based on different interest rates, and (4) obtain tips on refinancing their loan.
Directs the Director of FHFA to issue guidance to require the GSEs to make their refinancing guidelines consistent to ease the compliance requirements of qualified lenders, and in particular with respect to loans with less than 80% loan-to-value ratio and closing cost policies of the GSEs, which regulations or guidance shall be put into effect not later than 90 days after the enactment of this Acts.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Responsible Homeowner Refinancing Act of 2013
Latest action (Feb 14, 2013): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Feb 14, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.