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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Taxpayer Protections and Market Access for Mortgage Finance Act of 2017

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To require Fannie Mae and Freddie Mac to engage in credit risk transfer transactions, and for other purposes.


Actions Overview (1)

Date Actions Overview
07/28/2017Introduced in House

All Actions (5)

Date All Actions
09/01/2017Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Action By: Committee on Agriculture
07/28/2017Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
07/28/2017Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
07/28/2017Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
07/28/2017Introduced in House
Action By: House of Representatives

Cosponsors (4)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Moore, Gwen [D-WI-4]* 07/28/2017
Rep. Stivers, Steve [R-OH-15] 08/04/2017
Rep. Luetkemeyer, Blaine [R-MO-3] 09/25/2017
Rep. Budd, Ted [R-NC-13] 10/24/2017

Committees (3)

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 Reports
House Financial Services07/28/2017 Referred to
House Ways and Means07/28/2017 Referred to
House Agriculture07/28/2017 Referred to
House Agriculture Subcommittee on Commodity Exchanges, Energy, and Credit09/01/2017 Referred to

No related bill information was received for H.R.3556.


Latest Summary (1)

There is one summary for H.R.3556. View summaries

Shown Here:
Introduced in House (07/28/2017)

Taxpayer Protections and Market Access for Mortgage Finance Act of 2017

This bill amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the Federal Housing Finance Agency (FHFA) to establish guidelines requiring the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to engage in significant, increasing, and varied credit-risk transfer transactions.

A "risk transfer transaction" provides for: (1) the sale, disposition, retention, or transfer within the private sector of credit risk on a one- to four-family residential mortgage loan or a pool of such loans that back securities on which the enterprise guarantees the timely payment of principal and interest; or (2) the retention by the private sector of any such credit risk in connection with the sale of any such loan or security to an enterprise.

The enterprises may set and publish guarantee fees commensurate with the reduced credit risk resulting from any new risk transfer transactions. The bill exempts certain swaps entered into for the purpose of transferring or sharing credit risk in connection with a risk transfer transaction from the Commodity Exchange Act.

The FHFA must also require Fannie Mae and Freddie Mac to establish: (1) a five-year pilot program under which each enterprise must annually engage in at least one front-end risk transfer transaction in which at least 75% of the transferred credit risk is transferred to bank or non-bank mortgage originators having under $10 billion in assets, and (2) a pilot program to increase the amount of risk that is shared by the enterprises using private mortgage insurance.