H.R. 2508: To extend through fiscal year 2013 the increase in the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, and for other purposes.

H.R. 2508: To extend through fiscal year 2013 the increase in the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, and for other purposes.

112th Congress · introduced 2011-07-13 · Housing and Community Development · Latest: Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

federal

Follow this bill, step by step

Where it came from: introduced 2011-07-13 · official record
Who proposed it: Rep. Campbell, John [R-CA-48] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Insurance, Housing and Community Opportunity. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To extend through fiscal year 2013 the increase in the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, and for other purposes.

Plain summary

Declares that, for mortgages originated during FY2012 and FY2013, if the dollar amount limit on the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) for any size residence for any area is less than the limit in effect for 2008 under the Economic Stimulus Act of 2008, the maximum dollar amount limit on the principal obligation of such a mortgage shall be such maximum limit in effect for 2008 (in effect, an increase in the limit on the maximum original mortgage principal obligation from the FY2012 or FY2013 level to the 2008 level). Makes a similar declaration (and mortgage principal limit increase), for mortgages for which the mortgagee issues credit approval during FY2012 and FY2013, about the dollar amount limit on the maximum original principal obligation of a mortgage that may be insured by the Secretary of Housing and Urban Development (HUD).

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To extend through fiscal year 2013 the increase in the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, and for other purposes.

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Campbell, John [R-CA-48] · 31 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Steve Cohen (D-TN), Mazie K. Hirono (D-HI), Adam Smith (D-WA), Gregory W. Meeks (D-NY), Nydia M. Velázquez (D-NY), Maxine Waters (D-CA), James A. Himes (D-CT), Rick Larsen (D-WA), Mike Quigley (D-IL), Chris Van Hollen (D-MD), Jim Costa (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Fiscal year: The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr2508.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr2508 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112