H.R. 189: Transparency and Security in Mortgage Registration Act of 2013

Introduced:
Jan 04, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Marcy Kaptur [D-OH9]
Status:
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 assigned to a congressional committee on January 4, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Jan 04, 2013
Referred to Committee Jan 04, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

2% chance of getting past committee.
0% chance of being enacted.

Only 11% of House bills made it past committee and only 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
none
Committees

House Financial Services

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

Full Title

To prohibit Fannie Mae, Freddie Mac, and Ginnie Mae from owning or guaranteeing any mortgage that is assigned to the Mortgage Electronic Registration Systems or for which MERS is the mortgagee of record.

Summary

No summaries available.

Text

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Last updated Jan 04, 2013.
13 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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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.

1/4/2013--Introduced.
Transparency and Security in Mortgage Registration Act of 2013 - Amends the National Housing Act to prohibit the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from purchasing, acquiring, newly lending on the security of, newly investing in securities consisting of, or otherwise newly dealing in any Mortgage Electronic Registration System, Inc. (MERS) mortgage or mortgages.
Prohibits the Government National Mortgage Association (Ginnie Mae) from newly guaranteeing the payment of principal of or interest on any trust certificate or other security based or backed by a trust or pool that contains, or purchase or acquire, any MERS mortgage.
Directs Fannie Mae, Freddie Mac, and Ginnie Mae to require all their current MERS mortgages to be assigned to the proper servicer, holder, or creditor.
Directs the Secretary of Housing and Urban Development (HUD) to study:
(1) the impacts of the lack of electronic records and uniform standards found in local land title recordation systems currently used in the various states;
(2) any progress states have made in developing electronic land title recordation systems containing uniform standards;
(3) the current oversight role of the federal government in the transfer and recordation of land titles; and
(4) the feasibility of creating a federal land title recordation system for property transfers that would maintain all previous records of the land-property without invalidating, interfering with, or preempting state real property law governing the transfer and perfection of land title.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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