Affordable Mortgage for Homeowners Act of 2011 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) each to carry out a program to provide for the reduction of the interest rates on qualified mortgage mortgages (other than fixed-rate or adjustable-rate mortgages) on single-family housing owned or guaranteed by such enterprises, in accordance with policies and procedures that the Director of the Federal Housing Finance Agency (FHFA) shall establish.
Requires each program to provide a procedure for mortgagors to opt-out of an interest rate reduction.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E2314)
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line