H.R. 3777 · 110th Congress
Protecting Access to Safe Mortgages Act
- Stage
- In committee
- Sponsor
- Melissa Bean
- Introduced
- 2007-10-09
- Latest action
- 2007-10-09 · Introduced in House
Summary
Protecting Access to Safe Mortgages Act - Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to increase mortgage portfolio limitations placed upon: (1) the Federal National Mortgage Association (Fannie Mae); and (2) the Federal Home Loan Mortgage Corporation (Freddie Mac), respectively.
Instructs the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development (HUD) to lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Order; and (2) the voluntary temporary growth limitation described in a certain Freddie Mac Letter.