legislation: 112-s-3520

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
112-s-3520 112 s 3520 Rebuilding Equity Act of 2012 Housing and Community Development 2012-08-02 2012-08-02 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Merkley, Jeff [D-OR] OR D M001176 9 Rebuilding Equity Act of 2012 - Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) each to establish a voluntary program for eligible borrowers who qualify for the Home Affordable Refinance Program carried out by the GSEs, under which the GSEs shall pay up to $1,000 of the closing costs associated with applying for and receiving refinancing when the borrower agrees to refinance a 30-year mortgage loan into a fully amortizing loan with a term of not longer than 20 years. Requires the subject property to have a loan-to-value ratio of not less than 105%. 2019-02-20T23:43:05Z  

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