H.R. 1335: Short Sale Transparency Act of 2013

Introduced:
Mar 21, 2013
Status:
Referred to Committee
Prognosis
1% chance of being enacted
Track this bill
Sponsor
Susan Davis
Representative for California's 53rd congressional district
Party
Democrat
Text
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Last Updated
Mar 21, 2013
Length
3 pages
Related Bills
H.R. 3164 (112th) was a previous version of this bill.

Referred to Committee
Last Action: Oct 12, 2011

 
Status

This bill was assigned to a congressional committee on March 21, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Mar 21, 2013
Referred to Committee Mar 21, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

3% chance of getting past committee.
1% chance of being enacted.

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

 
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.

Cosponsors
3 cosponsors (3D) (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)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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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.


3/21/2013--Introduced.
Short Sale Transparency Act of 2013 - 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

The House Democratic Caucus does not provide summaries of bills.

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.

We’ll be looking for a source of summaries from the other side in the meanwhile.

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