legislation: 114-hr-6500

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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
114-hr-6500 114 hr 6500 Moving Housing Forward Act of 2016 Housing and Community Development 2016-12-08 2016-12-08 Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. House Rep. Delaney, John K. [D-MD-6] MD D D000620 2 Moving Housing Forward Act of 2016 This bill directs the Federal Housing Finance Agency (FHFA) to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to establish a pilot program that shares with the private sector the credit risk on a pool of single-family residential mortgage loans that back securities on which Fannie Mae and Freddie Mac guarantee the timely payment of principal and interest. The bill expresses the sense of Congress that credit risk transfer transactions should be encouraged that: (1) reduce taxpayer exposure to credit risk assumed by Fannie Mae and Freddie Mac, and (2) do not expose Fannie Mae and Freddie Mac to excessive counterparty risk that persons contractually obligated to them will fail to perform their obligations. After the pilot program is executed for three years, the FHFA must examine the economics of developing it into a continuous risk sharing program. 2023-01-11T13:33:54Z  

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