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H.R.3550: New Fair Deal Banking and Housing Stability Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about housing and community development
You can read the bill
Sponsor Justin Amash, R-Mich.
Total Cosponsors 7 (All Republicans)
Introduced Nov. 20, 2013
Latest Major Action Jan. 9, 2014
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

New Fair Deal Banking and Housing Stability Act of 2013 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (FHEFSSA), the Federal National Mortgage Association Charter Act (FNMACA), and the Federal Home Loan Mortgage Corporation Act (FHLMCA) to repeal housing goals and related provisions, including the Housing Trust Fund and the Capital Magnet Fund, with respect to the  Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises) (GSEs).

Amends the FNMACA and the FHLMCA to limit Fannie Mae and Freddie Mac mortgage purchases on property comprising 1- to 4-family dwelling units.

Amends the FHLMCA to repeal the authority of banking entities with respect to Freddie Mac transactions.

Amends the FNMACA and the FHLMCA to: (1) reduce GSE conforming loan limits, and (2) set a loan-to-value limitation on GSE mortgage purchases.

Amends th...

(Source: Congressional Research Service)

Bill Actions

Date Description
Jan. 9, 2014 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Dec. 13, 2013 Referred to the Subcommittee on Research and Technology.
Nov. 21, 2013 Referred to the Subcommittee on Highways and Transit.
Nov. 20, 2013 Referred to House Judiciary
Nov. 20, 2013 Referred to House Transportation and Infrastructure
Nov. 20, 2013 Referred to House Science, Space, and Technology
Nov. 20, 2013 Referred to House Appropriations
Nov. 20, 2013 Referred to House Financial Services