MORTGAGE BANKERS ASSOCIATION for MORTGAGE BANKERS ASSOCIATION

Taxation/Internal Revenue Code TAX

H.R. 25, Fair Tax Act of 2007. All Provisions. Promotes freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States. H.R. 5958, Homeowner Opportunity Act of 2008. All Provisions. Makes permanent the increases made by the Economic Stimulus Act of 2008 in the loan limits for the FHA and others. H.R. 6670, State and Local Economic Stimulus Act. All Provisions. Amends title 31, United States Code, to provide Federal aid and economic stimulus through a one-time revenue grant to the States and their local governments. H.R. 6690, Sound Dollar and Economic Stimulus Act of 2008. All Provisions. Stimulates the economy and provides for a sound United States dollar by defining a value for the dollar, and for other purposes. H.R. 3506, Foreclosure Tax Relief Act of 2007. All Provisions. Excludes from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer. H.R. 3648, Mortgage Forgiveness Debt Relief Act of 2007. All Provisions. Excludes discharges of indebtedness on principal residences from gross income. H.R.2392, Balancing Act of 2007. All Provisions. Improves the lives of working families by providing family and medical need assistance, child care assistance, in-school and after-school assistance, family care assistance, and encouraging the establishment of family-friendly workplaces.

Contacted: SENATE; Veterans Affairs, Dept of (VA); White House Office; Federal Housing Finance Agency (FHFA); HOUSE OF REPRESENTATIVES; Housing & Urban Development, Dept of (HUD); Treasury, Dept of

Bills named: H.R. 5958 (110th), H.R. 2392 (110th), H.R. 3506 (110th), H.R. 6690 (110th), H.R. 3648 (110th), H.R. 6670 (110th), H.R. 25 (110th)

Banking BAN

H.R. 1424, Emergency Economic Recovery Act of 2008. All provisions. Provides authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers. Bill became law on 10/3/08 H.R. 1427, Federal Housing Finance Reform Act of 2007. All Provisions. GSE Reform. H.R. 3609, Emergency Home Ownership and Mortgage Equity Protection Act. All Provisions. Modifies certain mortgages on principal residences. H.R. 3915, Mortgage Reform and Anti-Predatory Lending Act of 2007. All Provisions. Reforms consumer mortgage practices. H.R. 6867, Unemployment Compensation Extension Act of 2008. All provisions. Provides for additional emergency unemployment compensation. This bill became law on 11/21/08. H.R. 7110, Job Creation and Unemployment Relief Act of 2008. All Provisions. Makes supplemental appropriations for job creation and preservation, infrastructure investment, and economic and energy assistance for the fiscal year ending September 30, 2009, and for other purposes. S. 3688, Unemployment Compensation Extension Act of 2008. Provides for additional emergency unemployment compensation, to amend the Emergency Economic Stabilization Act of 2008 to authorize loans to automobile manufacturers and component suppliers, and for other purposes. Lobbied for general GSE Reform issues and predatory lending, servicing and Troubled Asset Relief Program (TARP) Developed House & Senate advocacy principles for GSE reform.

Contacted: Housing & Urban Development, Dept of (HUD); HOUSE OF REPRESENTATIVES; Federal Housing Finance Agency (FHFA); White House Office; SENATE; Treasury, Dept of; Veterans Affairs, Dept of (VA)

Bills named: S. 3688 (110th), H.R. 1427 (110th), H.R. 3609 (110th), H.R. 6867 (110th), H.R. 1424 (110th), H.R. 3915 (110th), H.R. 7110 (110th)

Housing HOU

S. 2338, FHA Modernization Act of 2007. All Provisions. Modernizes the National Housing Act and enables the Federal Housing Administration to more effectively reach underserved borrowers. H.R. 3915, Mortgage Reform and Anti-Predatory Lending Act of 2007. All Provisions. Amends TILA to reform consumer mortgage practices and provide accountability for such practices H.R. 3609, Emergency Home Ownership and Mortgage Equity Protection Act of 2007. All Provisions. Amends title 11 of the United States Code with respect to modification of certain mortgages on principal residences, and for other purposes. H.R. 1427, Federal Housing Finance Reform Act of 2007. All Provisions. Reforms the regulation of certain housing-related Government-sponsored enterprises, and for other purposes. H.R. 5830, Expand and Preserve Home Ownership Through Counseling Act. All Provisions. Creates a voluntary FHA program that provides mortgage refinancing assistance to allow families to stay in their homes, protect neighborhoods, and help stabilize the housing market. S. 2888, Foreclosure Rescue Fraud Act of 2008. All Provisions. Protects the property and security of homeowners who are subject to foreclosure proceedings, and for other purposes.

Contacted: White House Office; SENATE; Veterans Affairs, Dept of (VA); Housing & Urban Development, Dept of (HUD); HOUSE OF REPRESENTATIVES; Treasury, Dept of; Federal Housing Finance Agency (FHFA)

Bills named: H.R. 3915 (110th), S. 2338 (110th), S. 2888 (110th), H.R. 5830 (110th), H.R. 1427 (110th), H.R. 3609 (110th)

Bankruptcy BNK

S. 2136, Helping Families Save Their Homes in Bankruptcy Act of 2007. All Provisions. Addresses the treatment of primary mortgages in bankruptcy. S. 2636, Foreclosure Prevention Act of 2008. All Provisions. Provides needed housing reform. S. 2133 & H.R. 3778, Home Owners "Mortgage and Equity Savings Act" (HOMES). All Provisions.Re Mortgage loans in bankruptcy.

Contacted: HOUSE OF REPRESENTATIVES; Veterans Affairs, Dept of (VA); SENATE; Federal Housing Finance Agency (FHFA); Treasury, Dept of; White House Office; Housing & Urban Development, Dept of (HUD)

Bills named: S. 2136 (110th), S. 2133 (110th), S. 2636 (110th), H.R. 3778 (110th)