S. 3522 (112th): Responsible Homeowner Refinancing Act of 2012

Sep 10, 2012 (112th Congress, 2011–2013)
Died (Reported by Committee)
See Instead:

H.R. 6428 (same title)
Referred to Committee — Sep 14, 2012

Robert “Bob” Menéndez
Senator from New Jersey
Read Text »
Last Updated
Sep 11, 2012
12 pages
Related Bills
S. 249 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Feb 07, 2013

H.R. 6428 (identical)

Referred to Committee
Last Action: Sep 14, 2012


This bill was introduced on September 11, 2012, in a previous session of Congress, but was not enacted.

Introduced Sep 10, 2012
Reported by Committee Sep 11, 2012
Full Title

A bill to provide for the expansion of affordable refinancing of mortgages held by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.


No summaries available.

Primary Source

THOMAS.gov (The Library of Congress)

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S. stands for Senate bill.

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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.

Responsible Homeowner Refinancing Act of 2012 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to:
(1) borrower eligibility,
(2) representations and warranties,
(3) prohibition on up-front fees,
(4) alternative streamlined methods to determine the value of a property,
(5) the purchase or guarantee of any new mortgage resulting from the refinancing of an eligible mortgage, and
(6) guarantee fees.
Requires the GSEs to notify all borrowers with a mortgage owned or guaranteed by a GSE about the Program and its eligibility criteria, and inform borrowers of the website required below.
Directs the Director of the Federal Housing Finance Agency (FHFA) to establish a single website where borrowers may: (1) determine their potential eligibility for participation in the Program, (2) see a complete list of and links to qualified lenders, (3) use a mortgage refinance calculator to calculate potential payment savings based on different interest rates, and (4) obtain tips on refinancing their loan.
Directs the Director of FHFA to issue guidance to require the GSEs to make their refinancing guidelines consistent to ease the compliance requirements of qualified lenders, and in particular with respect to loans with less than 80% loan-to-value ratio and closing cost policies of the GSEs, which regulations or guidance shall be put into effect not later than 90 days after the enactment of this Acts.

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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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

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