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- S.3040
S.3040: No GSE Subsidies for Investor Properties Act
About This Bill
- Introduced Oct. 21, 2021
- Latest Major Action Oct. 21, 2021
Bill Sponsor
Bill Version
- Introduced in Senate - Oct. 21, 2021
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.) |