H.R. 3164 (112th): Short Sale Transparency Act of 2011

Introduced:
Oct 12, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Susan Davis [D-CA53]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 1335 on Mar 21, 2013. See H.R. 1335 for current action on this subject.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on October 12, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 12, 2011
Referred to Committee Oct 12, 2011
Cosponsors
12 cosponsors (10D, 2R) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To require Fannie Mae and Freddie Mac to disclose the minimum purchase price that such an enterprise will accept on the short sale of a residence financed by a mortgage purchased by such an enterprise in order to make short sales a viable alternative to foreclosure.

Summary

No summaries available.

Text

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Last updated Oct 12, 2011.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/12/2011--Introduced.
Short Sale Transparency Act of 2011 - Directs the Director of the Federal Housing Finance Agency to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), in any case in which one or the other denies the purchase of a residential mortgage loan made to finance the purchase, under a short sale, of a covered dwelling on the basis that the purchase price involved is insufficient, to disclose promptly to the prospective seller the amount by which the purchase price was less than the minimum purchase price sufficient for approval of the purchase of such mortgage.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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