http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_SN_2391.html?rev=20464 <p>S. 2391 would provide for affordable housing relief.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Government Sponsored Enterprise Mission Improvement Act, or the GSE Mission Improvement Act - Amends the Housing and Community Development Act of 1992 to modify requirements for annual reports to specified congressional committees by the Secretary of Housing and Urban Development on the activities of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises).&lt;br&gt;</p> <p>Requires the contents of such reports to: (1) identify the extent to which the enterprises are involved in mortgage purchases and secondary market activities involving subprime loans; and (2) compare the characteristics of subprime loans purchased and securitized by the enterprises to their other loans.</p> <p>Revises requirements for the establishment by the Secretary of housing goals to emphasize single-family housing goals and a multifamily special affordable housing goal, with annual targets.</p> <p>Revises the duty of the enterprises to serve underserved markets. Requires them to purchase or securitize mortgage investments and to improve the distribution of investment capital available for mortgage financing for underserved markets such as: (1) manufactured housing; (2) affordable housing preservation; (3) subprime borrowers; (4) community development financial institutions; (5) assisting depository institutions in meeting their obligations under the Community Reinvestment Act; and (6) rural and other underserved markets.</p> <p>Revises requirements for monitoring and enforcing compliance with such housing goals.</p> <p>Requires the enterprises to set aside and allocate certain of their funds for the affordable housing program of block grants to states to assist low- and moderate-income borrowers facing foreclosure or to make foreclosed property available to low- and moderate-income homebuyers.</p> <p>Establishes in the Treasury within the Community Development Financial Institutions Fund a Capital Magnet Fund to carry out a competitive grant program to attract private capital for and increase investment in: (1) the development, preservation, rehabilitation, and purchase of affordable housing for primarily extremely low-, very low-, and low-income families; and (2) certain economic development activities or community service facilities.</p> <p>Revises requirements for: (1) the issuance of cease-and-desist orders; and (2) the imposition of civil money penalties on the enterprises for failure to meeting housing goals.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 11/16/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 20464@http://www.washingtonwatch.com Fri, 14 Mar 2008 03:09:17 EDT http://www.washingtonwatch.com/bills/history/110_SN_2391.html?rev=14264 <p>S. 2391 would provide for affordable housing relief.</p> <h2 id="toc4"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>(Log in to edit the wiki and be the first to update the status of the bill!)</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 14264@http://www.washingtonwatch.com Sat, 17 Nov 2007 18:20:54 EST http://www.washingtonwatch.com/bills/history/110_SN_2391.html?rev=14265 <p>S. 2391 would provide for affordable housing relief.</p> <h2 id="toc8"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>Latest Major Action: 11/16/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 14265@http://www.washingtonwatch.com Sat, 17 Nov 2007 18:20:54 EST