Fannie Mae and Freddie Mac Investigative Commission Act
Latest action · Jan 14, 2013 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.
- IntroducedJan 14, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Fannie Mae and Freddie Mac Investigative Commission Act - Establishes the Fannie Mae and Freddie Mac Investigative Commission to investigate and make recommendations to Congress regarding certain decisions of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) that led to financial instability and federal conservatorship.
Requires the Commission to analyze specified topics, including: (1) the role of the enterprises in expanding homeownership and in helping housing market recovery; (2) enterprise involvement in the development of faulty risk standards, accounting practices, and the creation and proliferation of the securitized mortgage instrument, and how such instrument affected the solvency of such enterprises; (3) the role of the respective boards of directors in voting for the policies relating to risk assessments, subprime mortgages, and the international securitization of mortgages; and (4) compensation, stock options, and financial benefits that accrued to executive officers and members of the boards of directors.
Requires the enterprises and the Director of the Federal Housing Finance Agency to grant the Commission access to requested records and information.
Cosponsors 1
Members who signed on, in the order they did. All signed on Feb 25, 2013.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-NC | Walter B. Jones | Feb 25, 2013 |
Actions 2
Everything that happened, newest first.
- Jan 14, 2013Introduced in House
- Jan 14, 2013Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Jan 14, 2013Introduced 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.