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S.1217: Housing Finance Reform and Taxpayer Protection Act of 2014

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 Bob Corker, R-Tenn.
Total Cosponsors 11 (6 Democrats, 5 Republicans)
Introduced June 25, 2013
Latest Major Action Dec. 9, 2014
See it on GovTrack
See it on C-SPAN

Bill Progress

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

Bill Summary

Housing Finance Reform and Taxpayer Protection Act of 2014 - Title I: Elimination of Fannie Mae and Freddie Mac - (Sec. 101) Directs the Federal Mortgage Insurance Corporation (FMIC ) established under title II of this Act to take all steps necessary to dissolve and eliminate the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Revokes the charters for Fannie Mae and Freddie Mac (government sponsored enterprises [GSEs]).

Title II: Federal Mortgage Insurance Corporation - (Sec. 201) Establishes the FMIC as an independent agency and instrumentality of the federal government to:

  • facilitate a liquid, transparent, and resilient single-family and multifamily mortgage credit market by supporting a robust secondary mortgage market;
  • provide insurance on any mortgage-backed security that satisfies requirements to become a covered security;
  • monitor and supervise approved entit...

    (Source: Congressional Research Service)

Bill Actions

Date Description
Dec. 9, 2014 Committee on Banking, Housing, and Urban Affairs. Hearings held.
Sept. 18, 2014 Placed on Senate Legislative Calendar under General Orders. Calendar No. 579.
Sept. 18, 2014 Committee on Banking, Housing, and Urban Affairs. Reported by Senator Johnson SD, with an amendment in the nature of a substitute. Without written report.
May 15, 2014 Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
April 29, 2014 Committee on Banking, Housing, and Urban Affairs. Committee consideration and Mark Up Session held.
Dec. 10, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-221.
Nov. 22, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-190.
Nov. 21, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-187.
Nov. 7, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held.
Nov. 5, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-171.
Oct. 31, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-167.
Oct. 29, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-146.
Oct. 1, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-145.
Sept. 12, 2013 Committee on Banking, Housing, and Urban Affairs. Hearings held.
July 23, 2013 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. With printed Hearing: S.Hrg. 113-80.
June 25, 2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.