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HR 6394 112th Congress House

Affordable Housing Regulation Simplification Act of 2012

Official title: To facilitate affordable workforce homeownership in, and develop the full-time resident communities of, high tourism areas, and for other purposes.

Introduced: September 13, 2012 See on congress.gov
Housing and Community Development Administrative law and regulatory proceduresBanking and financial institutions regulationDepartment of CommerceDepartment of Housing and Urban Development
More subjectsShow fewer subjects
Federally chartered organizationsGovernment corporations and government-sponsored enterprisesHousing finance and home ownershipHousing for the elderly and disabledHousing supply and affordabilityLow- and moderate-income housingSecuritiesTravel and tourism
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 2012
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Oct 1, 2012
Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
Sep 14, 2012
Referred to the Subcommittee on Commerce, Manufacturing, and Trade.
Sep 13, 2012
Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, 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.
Sep 13, 2012
Introduced in House
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 Latest action October 1, 2012

Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

 Plain-English summary Congressional Research Service

Affordable Housing Regulation Simplification Act of 2012 - Amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation Act to authorize the Federal Home Loan Mortgage Corporation (Freddie Mac), to purchase, service, sell, lend on the security of, and otherwise deal in affordable workforce housing mortgages for one-family residences: (1) that shall be used as the mortgagor's residence at least 8 of any 12 months and 240 days of any 365 days; (2) located within, or are part of, a multifamily housing development meeting certain requirements; and (3) located in a high tourism area.

Prescribes mortgagor income and employment criteria.

Exempts such mortgages from any requirements and guidelines of such government sponsored entities (also known as GSEs) that are inconsistent with such authority.

Limits the application of this Act to such mortgages in a high tourism area.

Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure any affordable workforce housing mortgage meeting certain requirements.

Requires the Secretary of HUD to provide a spot approval process for insurance of condominium unit mortgages that does not require prior approval of the entire project or of the homeowners association for the entire project.

Directs the Secretary of Commerce to determine high tourism areas.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 5
 Cosponsors 1
All 1 Democratic 1
D
Quigley, Mike
Illinois · Sep 13, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 6394: Affordable Housing Regulation Simplification Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-HR-6394/
MLA
"H.R. 6394: Affordable Housing Regulation Simplification Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-6394/.
Bluebook (legal)
H.R. 6394, 112th Cong. (2026), https://openamerica.io/bill/112-HR-6394/.
Markdown link
[H.R. 6394: Affordable Housing Regulation Simplification Act of 2012](https://openamerica.io/bill/112-HR-6394/)
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