Commission on the Foreclosure and Mortgage Lending Crisis Act
Latest action · Mar 3, 2009 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 3, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Commission on the Foreclosure and Mortgage Lending Crisis Act - Establishes in the legislative branch the Commission on the Foreclosure and Mortgage Lending Crisis to: (1) study and report to Congress on the current legal and regulatory framework governing the housing mortgage lending markets and how it contributed to the increased foreclosure rate; (2) recommend changes to the current framework to prohibit lending practices that have contributed to the mortgage lending crisis; (3) review the impact of subprime abuses and predatory lending practices; (4) assess the role of states in enacting policies to reduce predatory lending practices and abuses in the subprime markets; (5) assess the impact of mortgage-backed securities and the Federal National Mortgage Corporation (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) upon the mortgage lending crisis; and (6) assess the impact of the Community Reinvestment Act of 1977 on the crisis.
Cosponsors 22
Members who signed on, in the order they did. Signatures ran from Mar 3, 2009 to May 4, 2009; 6 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-LA | Anh "Joseph" Cao | Original | Mar 3, 2009 |
| R-FL | Ileana Ros-Lehtinen | Original | Mar 3, 2009 |
| R-OH | Jean Schmidt | Original | Mar 3, 2009 |
| R-IL | Judy Biggert | Original | Mar 3, 2009 |
| R-WV | Shelley Moore Capito | Original | Mar 3, 2009 |
| R-OH | Steven C. LaTourette | Original | Mar 3, 2009 |
| R-FL | Lincoln Diaz-Balart | Mar 5, 2009 | |
| R-MI | Candice S. Miller | Mar 10, 2009 | |
| D-ID | Walter Minnick | Mar 12, 2009 | |
| D-CA | Zoe Lofgren | Mar 18, 2009 | |
| D-OH | Betty Sutton | Mar 19, 2009 | |
| R-DE | Michael N. Castle | Mar 23, 2009 | |
| D-PA | Chaka Fattah | Mar 25, 2009 | |
| D-MI | John Conyers, Jr. | Mar 26, 2009 | |
| D-FL | Alcee L. Hastings | Apr 21, 2009 | |
| R-NJ | Leonard Lance | Apr 22, 2009 | |
| R-PA | Tim Murphy | Apr 22, 2009 | |
| R-FL | Mario Diaz-Balart | Apr 23, 2009 | |
| D-NJ | Donald M. Payne | Apr 27, 2009 | |
| R-IL | John Shimkus | Apr 27, 2009 | |
| R-MI | Vernon J. Ehlers | Apr 27, 2009 | |
| R-IL | Aaron Schock | May 4, 2009 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Mar 3, 2009 |
Actions 2
Everything that happened, newest first.
- Mar 3, 2009Introduced in House
- Mar 3, 2009Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R40553 | Proposals for a Congressional Commission on the Financial Crisis: A Comparative Analysis Archived | Report | Apr 29, 2009 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To establish the Commission on the Foreclosure and Mortgage Lending Crisis.
- Short Titles as Introduced
- Commission on the Foreclosure and Mortgage Lending Crisis Act
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Mar 3, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
