No GSE Subsidies for Investor Properties Act
Summary
No GSE Subsidies for Investor Properties Act This bill prohibits government-sponsored enterprises (i.e., Fannie Mae and Freddie Mac) from purchasing or acquiring a mortgage secured by an investor property loan (i.e., a property comprised of 1-to-4 family dwelling units that is not the principal residence or a second home of the borrower) 18 months after the date of enactment. Further, these enterprises must implement a plan to gradually reduce the purchase and acquisition of such loans.
Bill status
in committee
1 of 4 stages cleared
Introduction
Oct 2021
Committee Review
Floor Vote
President
Introduced Oct 21, 2021
Last action Oct 21, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Oct 21, 2021
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Oct 21, 2021
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Patrick J. Toomey
RRepublican
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