H.R. 1353 (111th): Fannie Mae and Freddie Mac Full Disclosure Act

Introduced:
Mar 05, 2009 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
Adam Putnam
Representative for Florida's 12th congressional district
Party
Republican
Text
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Last Updated
Mar 05, 2009
Length
7 pages
 
Status

This bill was introduced on March 5, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 05, 2009
Referred to Committee Mar 05, 2009
 
Full Title

To extend the registration and reporting requirements of the Federal securities laws to certain housing-related Government-sponsored enterprises, and for other purposes.

Summary

No summaries available.

Cosponsors
1 cosponsors (1D) (show)
Committees

House Financial Services

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


3/5/2009--Introduced.
Fannie Mae and Freddie Mac Full Disclosure Act - Amends the Federal National Mortgage Association Charter Act to declare that stock, obligations, securities, participations, or other instruments issued by the Federal National Mortgage Association (Fannie Mae) shall not be exempt securities within the meaning of the laws administered by the Securities and Exchange Commission (SEC) (thus subjecting such securities to SEC regulation).
Amends the Federal Home Loan Mortgage Corporation Act to declare that any securities issued or guaranteed by the Federal Home Loan Mortgage Corporation (Freddie Mac) shall not be exempt securities within the meaning of SEC-administered laws (thus subjecting such securities also to SEC regulation).
States that transactions involving the initial disposition by an approved seller of pooled certificates acquired by the seller from Fannie Mae or Freddie Mac upon the initial issuance of the pooled certificates shall be deemed to be transactions by a person other than as an issuer, underwriter, or dealer within the meaning of the laws administered by the SEC.
Defines pooled certificates as single class mortgage-backed securities guaranteed by Fannie Mae or Freddie Mac that have been issued by Fannie or Freddie directly to the approved seller in exchange for the mortgage loans underlying such mortgage-backed securities.
Amends the Securities Act of 1933 to exempt specified applicants filing a securities registration statement subject to a fee from being required to pay aggregate fees in excess of 5% of the target offsetting collection amount for the fiscal year.
States that fees paid in connection with registration statements relating to business combinations shall not be included in calculating the total fees paid by any applicant.

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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