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HR 230 111th Congress House Housing and Community Development Executive agency funding and structure Federal Reserve System Government lending and loan guarantees Housing finance and home ownership Interest, dividends, interest rates Securities

Housing Opportunity and Mortgage Equity Act of 2009

Introduced: January 7, 2009 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
Jan 7, 2009
Referred to the House Committee on Financial Services.
Jan 7, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Housing Opportunity and Mortgage Equity Act of 2009 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the enterprises) to implement a program to purchase and securitize qualified refinancing mortgages and qualified new mortgages on single-family housing in accordance with policies and procedures established by the Director of the Federal Housing Finance Agency (FHFA).

Sets forth requirements for the purchase and securitization of qualified mortgages.

Directs the Board of Governors of the Federal Reserve System to establish a credit facility of the Federal Reserve System to make credit available to the enterprises at interest rates comparable to certain rates on securities issued by the Secretary of the Treasury.

Terminates the requirement under this Act for the enterprises to purchase mortgages after December 31, 2010.

What's happening now January 7, 2009

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1