S.3040: No GSE Subsidies for Investor Properties Act

About This Bill

  • Introduced Oct. 21, 2021
  • Latest Major Action Oct. 21, 2021

Bill Version

Bill Summary

No GSE Subsidies for Investor Properties Act This bill prohibits government-sponsored enterprises (i.e., Fannie Mae and Freddie Mac) from purchasing or acquiring a mortgage secured by an investor property loan (i.e., a property comprised of 1-to-4 family dwelling units that is not the principal residence or a second home of the borrower) 18 months after the date of enactment. Further, these enterprises must implement a plan to gradually...

(Source: Library of Congress)

Bill Actions

Date Description
Oct. 21, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct. 21, 2021

Introduced in the Senate by Patrick J. Toomey (R-Pa.)

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