A bill to prohibit Fannie Mae and Freddie Mac from purchasing or otherwise acquiring investor property loans, and for other purposes.
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.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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