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HR 1222 112th Congress House Housing and Community Development Government corporations and government-sponsored enterprises Housing finance and home ownership User charges and fees

GSE Subsidy Elimination Act of 2011

Introduced: March 29, 2011 See on congress.gov
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 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 6, 2011
Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 25 - 9 .
Apr 6, 2011
Subcommittee Consideration and Mark-up Session Held.
Apr 5, 2011
Subcommittee Consideration and Mark-up Session Held.
Apr 4, 2011
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Mar 31, 2011
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Mar 29, 2011
Referred to the House Committee on Financial Services.
Mar 29, 2011
Introduced in House
 Plain-English summary Congressional Research Service

GSE Subsidy Elimination Act of 2011 - Amends the Housing and Community Development Act of 1992 to require the Director of the Federal Housing Finance Agency to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) to charge a guarantee fee in connection with any guarantee of the timely payment of principal and interest on securities, notes, and other obligations based on or backed by mortgages on residential real properties designed principally for occupancy of from one to four families. Requires the fee to be set at an amount that appropriately reflects risk of loss as well as the cost of capital allocated to similar assets held by other fully private regulated financial institutions.

Directs the Director to require each GSE to increase its guarantee fee gradually over two years in a manner sufficient to comply with this Act.

What's happening now April 6, 2011

Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 25 - 9 .

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1