HR 6467 · 112th Congress · Housing and Community Development

Rebuilding Equity Act of 2012

Introduced 2012-09-20· Sponsored by Rep. Langevin, James R. [D-RI-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.(2012-10-23)

Plain Language Summary

[AI summary unavailable — showing source text] Rebuilding Equity Act of 2012 - Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) each to establish a voluntary program for eligible borrowers who qualify for the Home Affordable Refinance Program carried out by the GSEs, under which the GSEs shall pay up to $1,000 of the closing costs associated with applying for and receiving refinancing when the borrower agrees to refinance a 30-year mortgage loan into a fully amortizing loan with a term of not longer than 20 years. Requires the subject property to have a loan-to-value ratio of not less than 105%.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (7)

7 Democrats
Rep. Miller, Brad [D-NC-13]NC
Rep. Cicilline, David N. [D-RI-1]RI
Rep. Bonamici, Suzanne [D-OR-1]OR
Rep. Sires, Albio [D-NJ-13]NJ
Rep. Blumenauer, Earl [D-OR-3]OR
Rep. Hirono, Mazie K. [D-HI-2]HI
Rep. Holt, Rush [D-NJ-12]NJ