HR 6746 · 115th Congress · Housing and Community Development

Protecting American Taxpayers and Homeowners Act of 2018

Introduced 2018-09-07· Sponsored by Rep. Hensarling, Jeb [R-TX-5]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2018-09-07)

Plain Language Summary

[AI summary unavailable — showing source text] Protecting American Taxpayers and Homeowners Act of 2018 This bill revises provisions related to housing finance, mortgage-backed securities, and government-sponsored enterprises. Among other things, the bill: abolishes the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), effective five years after the bill's enactment; makes both the Government National Mortgage Association (Ginnie Mae) and the Federal Housing Administration (FHA) independent of the Department of Housing and Urban Development (HUD); transfers certain functions from HUD and the Department of Agriculture to the FHA and otherwise revises the FHA's authority; and establishes a mortgage-backed security market exchange and covered bond program.…

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