H.R. 3031: Rebuilding Equity Act of 2013
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H.R. 3031: Rebuilding Equity Act of 2013
113th Congress · introduced 2013-08-02 · Housing and Community Development · Latest: Referred to the House Committee on Financial Services.
federal
Follow this bill, step by step
- Where it came from: introduced 2013-08-02 · official record
- Who proposed it: Rep. Langevin, James R. [D-RI-2] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Financial Services. 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.
Official title
Rebuilding Equity Act of 2013
Plain summary
Rebuilding Equity Act of 2013 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) to each establish a voluntary program for eligible borrowers under which the GSE shall pay $1,000 toward the closing costs associated with applying for and receiving the refinancing when the borrower agrees to refinance into a fully amoritizing loan with a term not longer than 20 years. Prohibits the amount of the closing costs that each GSE pays under the program during the 12 months following enactment of this Act from varying based on the term of the mortgage that the borrower agrees to refinance into. Requires the Director of the Federal Housing Finance Agency, for each of the next two 12-month periods, to: (1) adjust the amount of the portion of the closing costs that each GSE will pay in accordance with specified requirements. Makes eligible for the program borrowers: (1) who qualify for the Home Affordable Refinance Program carried out by the GSEs, (2) whose subject property has a loan-to-value ratio of at least 105%, and (3) who refinances from a loan with an original 30-year term to a loan with a term of 20 years or less.
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.
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What does this mean? (plain words)
Official text
Rebuilding Equity Act of 2013
Source: Congressional Research Service summary (Introduced in House)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Langevin, James R. [D-RI-2] · 5 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Suzanne Bonamici (D-OR)
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 (1)
- Sponsor and cosponsor
- The sponsor is the member who introduces a bill and leads it. Cosponsors are other members who sign on to show support.
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-113hr3031.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>
Record fed-us-cong113-hr3031 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113