H.R. 3777 would temporarily raise the portfolio caps applicable to Freddie Mac and Fannie Mae, to provide the necessary financing to curb foreclosures by facilitating the refinancing of at-risk subprime borrowers into safe, prime loans, to preserve liquidity in the mortgage lending markets.

== Detailed Summary ==

<summary>
(Log inProtecting Access to editSafe Mortgages Act - Amends the wikiFederal National Mortgage Association Charter Act and be the firstFederal Home Loan Mortgage Corporation Act to provide a detailed summaryincrease 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 bill!)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.
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== Status of the Legislation ==

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Latest Major Action: 10/9/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services.
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== Points in Favor ==

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== Points Against ==

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