US Congress Senate Bill 2909 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 8 2012 - 25% progression, died in chamber
Action: 2012-05-08 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-677.
Text: Latest bill text (Introduced) [PDF]

Rebuilding Equity Act of 2012 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) each to establish a voluntary program for borrowers who qualify for the Home Affordable Refinance Program carried out by the GSEs, in which the GSE shall pay for the closing costs associated with applying for and receiving the refinancing when the borrower agrees to refinance into a fully amoritizing loan with a term of not longer than 20 years.

Rebuilding Equity Act of 2012

Sen. Jeff Merkley [D-OR]

Date	Chamber	Action
2012-05-08	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-677.
2012-05-08	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SB3520 (Related) 2012-08-02 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB6467 (Related) 2012-10-23 - Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/2909/all-info
Text	https://www.congress.gov/112/bills/s2909/BILLS-112s2909is.pdf