H.R.3733 - Affordable Mortgage for Homeowners Act of 2011112th Congress (2011-2012)
|Sponsor:||Rep. Hastings, Alcee L. [D-FL-23] (Introduced 12/19/2011)|
|Committees:||House - Financial Services|
|Latest Action:||01/12/2012 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3733 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (12/19/2011)
Affordable Mortgage for Homeowners Act of 2011 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) each to carry out a program to provide for the reduction of the interest rates on qualified mortgage mortgages (other than fixed-rate or adjustable-rate mortgages) on single-family housing owned or guaranteed by such enterprises, in accordance with policies and procedures that the Director of the Federal Housing Finance Agency (FHFA) shall establish.
Requires each program to provide a procedure for mortgagors to opt-out of an interest rate reduction.