H.R. 234
Fannie Mae and Freddie Mac Investigative Commission Act
Referred to the House Committee on Financial Services.
Sponsor
Rep. Kaptur, Marcy [D-OH-9]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- House
- Bill Type
- HR
- Bill Number
- 234
- Congress
- 113
- Introduced Date
- Jan 14, 2013
- Policy Area
- Housing and Community Development
- Is Law
- No
Referred to the House Committee on Financial Services.
Source: House floor actions
Introduced in House
Source: Library of Congress
Introduced in House
Source: Library of Congress
Fannie Mae and Freddie Mac Investigative Commission Act - Establishes the Fannie Mae and Freddie Mac Investigative Commission to investigate and make recommendations to Congress regarding certain decisions of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) that led to financial instability and federal conservatorship.
Requires the Commission to analyze specified topics, including: (1) the role of the enterprises in expanding homeownership and in helping housing market recovery; (2) enterprise involvement in the development of faulty risk standards, accounting practices, and the creation and proliferation of the securitized mortgage instrument, and how such instrument affected the solvency of such enterprises; (3) the role of the respective boards of directors in voting for the policies relating to risk assessments, subprime mortgages, and the international securitization of mortgages; and (4) compensation, stock options, and financial benefits that accrued to executive officers and members of the boards of directors.
Requires the enterprises and the Director of the Federal Housing Finance Agency to grant the Commission access to requested records and information.
Financial Services Committee
Introduced in House
Jan 14, 2013