H.R. 3954 (99th): Economic Development National Mortgage Association Act

Introduced:
Dec 16, 1985 (99th Congress, 1985–1986)
Status:
Died (Referred to Committee)
Sponsor
Robert Edgar
Representative for Pennsylvania's 7th congressional district
Party
Democrat
 
Status

This bill was introduced on December 16, 1985, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 16, 1985
Referred to Committee Dec 16, 1985
 
Full Title

A bill to establish a secondary market for industrial mortgages.

Summary

No summaries available.

Cosponsors
none
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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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.


12/16/1985--Introduced.
Economic Development National Mortgage Association Act - Establishes the Economic Development National Mortgage Association which is authorized to purchase, make commitments to purchase, hold, deal with, and sell certain kinds of industrial mortgages from any qualified financial institution.
Directs the Association to:
(1) establish criteria for determining the eligibility of financial institutions to be certified to originate, sell, and service industrial mortgages; and
(2) receive applications for certification.
Permits the Association to issue and sell securities based upon such mortgages as it may set aside.

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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