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S. 488 112th Congress Senate

REIP Act

Official title: A bill to require the FHA to equitably treat homebuyers who have repaid in full their FHA-insured mortgages, and for other purposes.

Introduced: March 3, 2011 See on congress.gov
Housing and Community Development Housing finance and home ownershipInterest, dividends, interest rates
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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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 3, 2011
Introduced in Senate
Mar 3, 2011
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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 Latest action March 3, 2011

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Reduce Excessive Interest Payments Act or REIP Act - Amends the National Housing Act to prohibit each mortgagee (or servicer) from imposing, and the Secretary of Housing and Urban Development (HUD) from requiring imposition of, any interest charge on an insured mortgage as a result of the loss of any time period provided by the mortgagee (or servicer) within which the mortgagor may fully repay the principal balance amount of the mortgage, with respect to: (1) any days in the preceding billing cycle in which such amounts were repaid, or (2) any amounts repaid in the current billing cycle that were repaid within such time period.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 488: REIP Act. 112th Congress. Open America. https://openamerica.io/bill/112-S-488/
MLA
"S. 488: REIP Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-488/.
Bluebook (legal)
S. 488, 112th Cong. (2026), https://openamerica.io/bill/112-S-488/.
Markdown link
[S. 488: REIP Act](https://openamerica.io/bill/112-S-488/)
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