House Bill 6746
115th Congress(2017-2018)
Protecting American Taxpayers and Homeowners Act of 2018
Introduced
Introduced in House on Sep 7, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6746
Congress
115
Policy Area
Housing and Community Development
Housing and Community Development
Primary focus of measure is home ownership; housing programs administration and funding; residential rehabilitation; regional planning, rural and urban development; affordable housing; homelessness; housing industry and construction; fair housing. Measures concerning mortgages and mortgage finance may fall under Finance and Financial Sector policy area.
No House votes have been held for this bill.
Summary
Protecting American Taxpayers and Homeowners Act of 2018
This bill revises provisions related to housing finance, mortgage-backed securities, and government-sponsored enterprises. Among other things, the bill:
- abolishes the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), effective five years after the bill's enactment;
- makes both the Government National Mortgage Association (Ginnie Mae) and the Federal Housing Administration (FHA) independent of the Department of Housing and Urban Development (HUD);
- transfers certain functions from HUD and the Department of Agriculture to the FHA and otherwise revises the FHA's authority; and
- establishes a mortgage-backed security market exchange and covered bond program.
September 7, 2018
09/07/2018
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
09/07/2018
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:41:35 PM