Summary: H.R.6746 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.6746. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/07/2018)

Protecting American Taxpayers and Homeowners Act of 2018

This bill revises provisions related to housing finance, mortgage-backed securities, and government-sponsored enterprises. Among other things, the bill:

  • abolishes the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), effective five years after the bill's enactment;
  • makes both the Government National Mortgage Association (Ginnie Mae) and the Federal Housing Administration (FHA) independent of the Department of Housing and Urban Development (HUD);
  • transfers certain functions from HUD and the Department of Agriculture to the FHA and otherwise revises the FHA's authority; and
  • establishes a mortgage-backed security market exchange and covered bond program.