US Congress House Bill 6467 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on September 20 2012 - 25% progression, died in committee
Action: 2012-10-23 - Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Pending: House Subcommittee on Capital Markets and Government Sponsored Enterprises Committee
Text: Latest bill text (Introduced) [PDF]

Rebuilding Equity Act of 2012 - Requires 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 eligible borrowers who qualify for the Home Affordable Refinance Program carried out by the GSEs, under which the GSEs shall pay up to $1,000 of the closing costs associated with applying for and receiving refinancing when the borrower agrees to refinance a 30-year mortgage loan into a fully amortizing loan with a term of not longer than 20 years. Requires the subject property to have a loan-to-value ratio of not less than 105%.

Rebuilding Equity Act of 2012

Rep. James Langevin [D-RI]	Rep. Earl Blumenauer [D-OR]	Rep. Suzanne Bonamici [D-OR]	Rep. David Cicilline [D-RI]
Sen. Mazie Hirono [D-HI]	Rep. Rush Holt [D-NJ]	Rep. Brad Miller [D-NC]	Rep. Albio Sires [D-NJ]

Date	Chamber	Action
2012-10-23	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2012-09-20	House	Referred to the House Committee on Financial Services.

SB2909 (Related) 2012-05-08 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-677.
SB3520 (Same As) 2012-08-02 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6467/all-info
Text	https://www.congress.gov/112/bills/hr6467/BILLS-112hr6467ih.pdf