OpenCongress - U.S. Congress - H.R.1427 Federal Housing Finance Reform Act of 2007

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Federal Housing Finance Reform Act of 2007

To reform the regulation of certain housing-related Government-sponsored enterprises, and for other purposes.

previous 110th session of congress Other Bill Titles (3 more)

5/22/2007--Passed House amended. Federal Housing Finance Reform Act of 2007 - Title I: Reform of Regulation of Enterprises and Federal Home Loan Banks - Subtitle A: Improvement of Safety and Soundness -
(Sec. 101) Amends the Housing and Community Development Act of 1992 (Act) ... morehide bill summarySee Full Bill Text

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Amendments

This bill has 24 amendments. See All AmendmentsHide All Amendments

Amendments to H.R.1427

Number	Status	Purpose
H.Amdt203	Fail	An amendment numbered 12 printed in the Congressional Record to strike section 139 pertaining to affordable housing fund.
H.Amdt204	Pass	An amendment numbered 22(1) printed in the Congressional Record to clarify recommendations on criteria for the Federal Housing Enterprise Board when appointing individuals as directors.
H.Amdt205	Fail	An amendment numbered 29 printed in the Congressional Record to provide that the director shall temporarily suspend allocations if it is determined that allocations are contributing to an increase in the cost or mortgages to homebuyers.
H.Amdt206	Pass	An amendment numbered 21 printed in the Congressional Record to permit the director, at the request of a State, to waive the requirement that homebuyers attend in-person financial management counseling before receiving affordable housing grants, and allows the homebuyers to receive the counseling through alternate forms such as online, or over the phone.
H.Amdt207	Pass	An amendment numbered 4 printed in the Congressional Record to clarify that potential risks should be posed to the enterprises with respect to the nature of portfolio holdings.
H.Amdt208	Offered	An amendment comprised of the following amendments offered en bloc: Amendments nos. 2, as modified, 3, 6, 7, 11, 20, and 31 printed in the Congressional Record.
H.Amdt209	Fail	An amendment numbered 14 printed in the Congresssional Record to add a new subsection on determination and suspension of allocations.
H.Amdt210	Fail	An amendment numbered 15 printed in the Congressional Record to clarify the director's authority to determine the appropriate size of the board of directors of the Federal National Mortgage Association between 7 and 15 members.
H.Amdt211	Fail	An amendment numbered 27 printed in the Congressional Record to add a new paragraph limiting contributions to affordable housing fund when the government has an on-budget and an off-budget surplus.
H.Amdt212	Withdrawn	An amendment numbered 26 printed in the Congressional Record to add a new section providing for consideration of location and energy efficiency in enterprise underwriting guidelines.
H.Amdt213	Fail	An amendment numbered 17 printed in the Congressional Record to insert new language requiring GSEs to limit their retained portfolios to mortgages and mortgage backed securities that exclusivley support affordable housing, and particularly mortgages extended to households having incomes below the median income for the area in which the property subject to the mortgage is located.
H.Amdt214	Withdrawn	An amendment numbered 5 printed in the Congressional Record to redistribute affordable housing grants for use in disaster areas that were allotted to Louisiana and Mississippi to include both Alabama and Texas in addition to Louisiana and Mississippi.
H.Amdt215	Fail	An amendment numbered 16 printed in the Congressional Record to strike low-income housing grants from the affordable housing fund and to insert housing assistance provisions for the areas affected by Hurricanes Katrina and Rita; strike language outlining affordable housing grant formulas for Indian tribal members and directs funds to be allocated "based on the formula used for the Continuum of Care competition of the Department of Housing and Urban Development"; and insert language requiring that affordable housing grants after 2007 be reserved only for rental housing voucher assistance in accordance with the Housing act of 1937.
H.Amdt216	Pass	An amendment numbered 8 printed in the Congressional Record to prevent illegal immigrants from owning or renting housing built by funds from the affordable housing fund by requiring adult occupants of that housing to establish their legal residency through the use of secure forms of identification.
H.Amdt217	Fail	An amendment numbered 10 printed in the Congressional Record to requrie the Director of the new GSE Regulator to provide information to mortgage originators about any added mortgage costs to consumers associated with the new Housing Fund; in turn, originators would have to furnish this written information to homebuyers at or before closing to qualify their mortgages for purchase, service, holding, lending on the security of or selling by the GSE's. The amendment provides that all of the costs associated with the new regulatory requirement created would be paid for with funds from the new Housing Fund.
H.Amdt218	Fail	An amendment numbered 34 printed in the Congressional Record to redistribute the affordable housing grants for use in disaster areas from a ratio of 75% for Louisiana and 25% for Mississippi to create 10% for Texas by taking 5% each from the allotment for Louisiana and Mississippi.
H.Amdt219	Offered	An amendment numbered 25 printed in the Congressional Record to make economically disadvantaged counties that receive payments under the Secure Rural Roads and Community Self-Determination Act eligible to receive Affordable Housing fund grants.
H.Amdt220	Withdrawn	An amendment numbered 32 printed in the Congressional Record to strike the High Cost Area increases in Section 133 to the Conforming Loan Limit.
H.Amdt221	Withdrawn	An amendment numbered 33 printed in the Congressional Record.
H.Amdt222	Fail	An amendment numbered 9 printed in the Congressional Record to require that the director of a GSE study and certify to Congress that its contributions to the affordable housing fund wouldn't contribute to its financial instability or impair its safety and soundness.
H.Amdt223	Pass	An amendment numbered 19 printed in the Congressional Record to prohibit all three mortgage lending government-sponsored enterprises (GSE's) from obtaining primary residential mortgages being granted to any person who does not have a valid Social Security number.
H.Amdt224	Offered	An amendment designated as the second amendment numbered 22 printed in the Congressional Record to prohibit GSE's from treating the costs of making allocations to the affordable housing funds as either regular business expenses or redirecting the costs through increased fees, decreased premiums, or any other manner.
H.Amdt225	Fail	An amendment numbered 30 printed in the Congressional Record to strike the Affordable Housing Trust Fund budgetary placeholder language in the bill.
H.Amdt226	Fail	An amendment numbered 1 printed in the Congressional Record to set a cap on the amount of funds available in the Affordable Housing Fund.

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
March 09, 2007		May 22, 2007

Latest Vote

May 22, 2007Roll call number 396 in the House
Question: On Passage: H R 1427 Federal Housing Finance Reform Act
Required percentage of 'Aye' votes: 1/2 (50%)	Percentage of 'aye' votes: 72%	Result: Passed

See Full Voting History (17 votes)Hide Voting History Show All Actions (73 actions)Hide Actions

Voting History

Date	Chamber	Question	Aye	Nay	Result
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Passage: H R 1427 Federal Housing Finance Reform Act	313	104	Passed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Motion to Recommit with Instructions: H R 1427 Federal Housing Finance Reform Act	182	232	Failed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 5 to H R 1427	383	36	Agreed to	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 24 to H R 1427	164	256	Failed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 23 to H R 1427	155	263	Failed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 21 to H R 1427	217	205	Agreed to	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 20 to H R 1427	180	243	Failed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 16 to H R 1427	163	260	Failed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 15 to H R 1427	183	240	Failed	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 14 to H R 1427	235	188	Agreed to	See Vote
May 22, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 13 to H R 1427	174	246	Failed	See Vote
May 17, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 11 to H R 1427	92	322	Failed	See Vote
May 17, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 9 to H R 1427	173	245	Failed	See Vote
May 17, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 8 to H R 1427	154	263	Failed	See Vote
May 17, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 7 to H R 1427	176	240	Failed	See Vote
May 17, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 3 to H R 1427	164	253	Failed	See Vote
May 17, 2007	House	H.R.1427 Federal Housing Finance Reform Act of 2007 On Agreeing to the Amendment: Amendment 1 to H R 1427	148	269	Failed	See Vote

All Bill Actions

May 24, 2007: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 22, 2007: UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
May 22, 2007: The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1427.
Passed roll in the House on May 22, 2007. On passage Passed by recorded vote: 313 - 104 (Roll no. 396).
May 22, 2007: On motion to recommit with instructions Failed by recorded vote: 182 - 232 (Roll no. 395).
May 22, 2007: The previous question on the motion to recommit with instructions was ordered pursuant to the rule.
May 22, 2007: DEBATE - The House proceeded with 10 minutes of debate on the Cantor motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments offsetting the costs of providing assistance to individuals and families to increase home ownership for all Americans and inserting provisions on the use of fund amounts.
May 22, 2007: Mr. Cantor moved to recommit with instructions to Financial Services.
May 22, 2007: The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
May 22, 2007: The previous question was ordered pursuant to the rule.
May 22, 2007: The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1427.
May 22, 2007: The House resolved into Committee of the Whole House on the state of the Union for further consideration.
May 22, 2007: Considered as unfinished business.
May 18, 2007: Committee of the Whole House on the state of the Union rises leaving H.R. 1427 as unfinished business.
May 18, 2007: On motion that the Committee rise Agreed to by voice vote.
May 18, 2007: Mr. Frank (MA) moved that the Committee rise.
May 18, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Neugebauer amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Neugebauer demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 18, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Neugebauer amendment under the five-minute rule.
May 18, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hensarling demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: Rule H. Res. 404 passed House.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Hensarling amendment #30 under the five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Garrett (NJ) amendment under the five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Doolittle amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Doolittle demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Doolittle amendment under the five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Price (GA) amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Price (GA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Price (GA) amendment #9 under the five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Gary Miller (CA) amendment.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Hensarling amendment under the five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Doolittle amendment #25 pending reservation of a point of order.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Brady (TX) amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Brady (TX) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Brady (TX) amendment under the five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Sessions amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Sessions demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Sessions amendment under the five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Price (GA) amendment #9, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Price (GA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Price (GA) amendment #9 under the five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Feeney amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Feeney demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Feeney amendment under the five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Al Green of Texas amendment under five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Garrett amendment no. 17, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Garrett demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Garrett of New Jersey amendment No. 17 under five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Blumenauer amendment under five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Roskam amendment the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Roskam demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Roskam amendment under five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Kanjorski amendment no. 15, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Feeney demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Kanjorski amendment no. 15 under five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the McHenry amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. McHenry demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
May 17, 2007: COMMITTEE OF THE WHOLE - The Committee of the Whole resumed its sitting.
May 17, 2007: COMMITTEE OF THE WHOLE - The Committee of the Whole rose informally to receive a message from the Senate.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the McHenry amendment under five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Frank of Massachussetts En Bloc Amendment under five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Neugebauer amendment under five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Hinojosa amendment under five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment no. 29, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hensarling demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Hensarling amendment No. 29 under five-minute rule.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Kanjorski amendment No. 22(1) under five-minute rule.
May 17, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Bachus amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Bachus demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
May 17, 2007: DEBATE - Pursuant to the provisions of H. Res. 404, the Committee of the Whole proceeded with debate on the Bachus amendment under five-minute rule.
May 17, 2007: GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1427.
May 17, 2007: The Speaker designated the Honorable Mike Ross to act as Chairman of the Committee.
May 17, 2007: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 404 and Rule XVIII.
May 17, 2007: Rule provides for consideration of H.R. 1427 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be read by title. Bill is open to amendments. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, modified by the amendment printed in the report of the Committee on Rules accompanying this resolution.
May 17, 2007: Considered under the provisions of rule H. Res. 404.
May 17, 2007: ORDER OF PROCEDURE - Mr. Spratt asked unanimous consent that, during further consideration of H.R. 1427 pursuant to H. Res. 404, the Chair may reduce to two minutes the minimum time for electronic voting under clause 6 of rule 18 and clauses 8 and 9 of rule 20. Agreed to without objection.
May 16, 2007: Sponsor introductory remarks on measure. (CR E1071)
May 15, 2007: Rules Committee Resolution H. Res. 404 Reported to House. Rule provides for consideration of H.R. 1427 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be read by title. Bill is open to amendments. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, modified by the amendment printed in the report of the Committee on Rules accompanying this resolution.
Added to calendar on May 09, 2007: Placed on the Union Calendar, Calendar No. 84..
May 09, 2007: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-142.
Added to calendar on Mar 29, 2007: Ordered to be Reported (Amended) by Voice Vote..
Mar 29, 2007: Committee Consideration and Mark-up Session Held.
Mar 29, 2007: Ordered to be Reported (Amended) by Voice Vote.
Mar 28, 2007: Committee Consideration and Mark-up Session Held.
Mar 09, 2007: Referred to the House Committee on Financial Services.
Introduced on Mar 09, 2007.

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Federal Housing Finance Reform Act of 2007