Sensible Accounting to Value Energy Act of 2011
Latest action · Oct 19, 2011 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- IntroducedOct 19, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Sensible Accounting to Value Energy Act of 2011 - Directs the Secretary of Housing and Urban Development (HUD) to issue guidelines for all federal mortgage agencies (including the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], and any affiliates) to implement enhanced loan eligibility requirements, for use when determining the ability of a loan applicant to repay a covered loan, that account for the expected costs of energy at the property involved.
Directs the Secretary to issue guidelines for how covered agencies shall determine: (1) the maximum permitted loan amount based on the value of the property for all covered loans made on properties with an energy efficiency report, and (2) the estimated energy savings for properties with such a report.
Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to require rules by the federal financial institutions regulatory agency and the Resolution Trust Corporation for real estate appraisals for federally related transactions to require that state-certified appraisers have timely access, whenever practicable, to lender information relevant to an appraisal of the energy and water efficiency or conserving improvements or features of property.
Applies the requirement of state certified appraisers to transactions involving any real property on which the appraiser makes adjustments using an energy efficiency report.
Directs the Secretary to establish an advisory group on the implementation of the enhanced energy efficiency underwriting criteria established in this Act.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Oct 19, 2011 to Mar 29, 2012, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Johnny Isakson | Original | Oct 19, 2011 |
| D-AK | Mark Begich | Nov 3, 2011 | |
| D-CA | Barbara Boxer | Mar 15, 2012 | |
| D-CO | Mark Udall | Mar 29, 2012 |
Actions 2
Everything that happened, newest first.
- Oct 19, 2011Introduced in Senate
- Oct 19, 2011Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Oct 19, 2011Introduced in Senate
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.