US Congress House Bill 1222 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 7-0)
Status: Introduced on March 29 2011 - 25% progression, died in chamber
Action: 2011-04-06 - Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 25 - 9 .
Text: Latest bill text (Introduced) [PDF]

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.

GSE Subsidy Elimination Act of 2011

Rep. Randy Neugebauer [R-TX]	Rep. Spencer Bachus [R-AL]	Rep. Francisco Canseco [R-TX]	Sen. Shelley Capito [R-WV]
Rep. Scott Garrett [R-NJ]	Rep. Jeb Hensarling [R-TX]	Rep. Stevan Pearce [R-NM]

Date	Chamber	Action
2011-04-06	House	Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 25 - 9 .
2011-04-06	House	Subcommittee Consideration and Mark-up Session Held.
2011-04-05	House	Subcommittee Consideration and Mark-up Session Held.
2011-04-04	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2011-03-31	House	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
2011-03-29	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/1222/all-info
Text	https://www.congress.gov/112/bills/hr1222/BILLS-112hr1222ih.pdf