H.R. 6467 (112th): Rebuilding Equity Act of 2012

Introduced:
Sep 20, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. James “Jim” Langevin [D-RI2]
Status:
Died (Referred to Committee)

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 September 20, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 20, 2012
Referred to Committee Sep 20, 2012
Cosponsors
7 cosponsors (7D) (show)
Committees

House Financial Services

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

Full Title

To require a portion of closing costs to be paid by the enterprises with respect to certain refinanced mortgage loans, and for other purposes.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Sep 20, 2012.
4 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.

9/20/2012--Introduced.
Rebuilding Equity Act of 2012 - Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) each to establish a voluntary program for eligible borrowers who qualify for the Home Affordable Refinance Program carried out by the GSEs, under which the GSEs shall pay up to $1,000 of the closing costs associated with applying for and receiving refinancing when the borrower agrees to refinance a 30-year mortgage loan into a fully amortizing loan with a term of not longer than 20 years.
Requires the subject property to have a loan-to-value ratio of not less than 105%.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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