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HR 5958 110th Congress House Housing and Community Development Economics and Public Finance Federally-assisted loans Federally-guaranteed loans Finance and Financial Sector Government Operations and Politics Government publicity Housing finance Mortgage banks Mortgage guaranty insurance Mortgages Secondary mortgage market

Homeowner Opportunity Act of 2008

Introduced: May 5, 2008 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 5, 2008
Referred to the House Committee on Financial Services.
May 5, 2008
Introduced in House
 Plain-English summary Congressional Research Service

Homeowner Opportunity Act of 2008 - Amends the Federal National Mortgage Association Charter Act, the Federal Home Loan Mortgage Corporation Act, and the National Housing Act to make permanent certain increases in the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Expresses the sense of the Congress to encourage Fannie Mae and Freddie Mac to securitize mortgages acquired under the increased conforming loan limits to the extent that such securitizations do not impose additional costs for mortgages originated, purchased, or securitized under the existing limits, or interfere with the goal of adding liquidity to the market.

Amends the National Housing Act to: (1) increase the mortgage loan limit for mortgage insurance in high-cost areas; and (2) direct the Secretary of Housing and Urban Development to publish the median house prices and mortgage principal obligation limits for all areas each year.

What's happening now May 5, 2008

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2