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115-hr-6746115th Congress

Protecting American Taxpayers and Homeowners Act of 2018

Sponsored By: Representative Hensarling, Jeb [R-TX-5]

Unknown

Summary

Protecting American Taxpayers and Homeowners Act of 2018 This bill revises provisions related to housing finance, mortgage-backed securities, and government-sponsored enterprises. Among other things, the bill: abolishes the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), effective five years after the bill's enactment; makes both the Government National Mortgage Association (Ginnie Mae) and the Federal Housing Administration (FHA) independent of the Department of Housing and Urban Development (HUD); transfers certain functions from HUD and the Department of Agriculture to the FHA and otherwise revises the FHA's authority; and establishes a mortgage-backed security market exchange and covered bond program.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Hensarling, Jeb [R-TX-5]

TX • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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