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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Housing Finance Restructuring Act of 2016

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To ensure the sufficient capitalization of Fannie Mae and Freddie Mac and prevent any further bailout of such enterprises by the Federal Government, and for other purposes.

Actions Overview (1)

Date Actions Overview
04/12/2016Introduced in House

All Actions (2)

Date All Actions
04/12/2016Referred to the House Committee on Financial Services.
Action By: House of Representatives
04/12/2016Introduced in House
Action By: House of Representatives

Cosponsors (2)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Wagner, Ann [R-MO-2] 05/11/2016
Rep. Lummis, Cynthia M. [R-WY-At Large] 05/17/2016

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Financial Services04/12/2016 Referred to

No related bill information was received for H.R.4913.

Latest Summary (1)

There is one summary for H.R.4913. View summaries

Shown Here:
Introduced in House (04/12/2016)

Housing Finance Restructuring Act of 2016

This bill directs the Department of the Treasury to modify the Senior Preferred Stock Purchase Agreement for each of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) to:

  • reduce to zero (deem as repaid in full) the liquidation preference on the Variable Liquidation Preference Senior Preferred Stocks of each enterprise;
  • require redemption of the Variable Liquidation Preference Senior Preferred Stock of each enterprise upon a specified date, deeming it no longer outstanding and terminating all rights of the stockholders.

Treasury shall exercise the warrants for the purchase of common stock of the enterprises under the Senior Preferred Stock Purchase Agreements.

At any time an enterprise is not fully capitalized, the Federal Housing Finance Agency (FHFA) shall require that the net income (after deduction of all associated expenses) of each enterprise for the fiscal year be retained as capital reserves, and not be allocated to fund the Housing Trust Fund or the Capital Magnet Fund for affordable housing.

The FHFA shall:

  • report a capital restoration plan for each enterprise, and
  • terminate the conservatorship of an enterprise when it attains an amount of capital equal to or exceeding 5% of its risk-weighted assets.

Any individual or entity adversely affected or aggrieved by action or inaction on the part of the FHFA or Treasury in violation of this bill or the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 may commence a civil action in a U.S. district court for prospective injunctive relief against the FHFA or Treasury, as appropriate.