S. 1373: Rebuilding American Homeownership Act of 2013

113th Congress · introduced 2013-07-25 · Housing and Community Development · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2013-07-25 · official record
Who proposed it: Sen. Merkley, Jeff [D-OR] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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

Rebuilding American Homeownership Act of 2013

Plain summary

Rebuilding American Homeownership Act of 2013 - Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (Government sponsored enterprises or GSEs) to establish a program to provide for the refinancing of eligible mortgages. Authorizes a GSE to purchase, guarantee, service, sell, lend on the security of, refinance, or otherwise deal in eligible mortgages in carrying out such program. Defines eligible mortgage as an existing first mortgage: (1) made for purchase of, or refinancing of another first mortgage, on a 1- to 4-family owner-occupied dwelling; (2) with a current loan-to-value ratio between 80% and 140%; (3) originated on or before May 31, 2009; and (4) not owned or guaranteed by a GSE. Requires the mortgagor to be a current borrower. Excludes from eligibility any mortgage insured or guaranteed by any program of the Federal Housing Administration (FHA), the Department of Housing and Urban Development (HUD), the Government National Mortgage Association (Ginnie Mae), the Department of Agriculture (USDA), or the Department of Veterans Affairs (VA). Requires that an eligible mortgage with existing credit coverage, in order to participate in the refinancing program, must continue to maintain or otherwise transfer such coverage to the new mortgage. Sets the maximum term of the new mortgage at 30 years, and the maximum original principal obligation at the legal limit for conventional mortgages a GSE may purchase or guarantee. Requires each GSE to charge a fee for any guarantee of the new mortgage.

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

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What does this mean? (plain words)

Official text

Rebuilding American Homeownership Act of 2013

Source: Congressional Research Service summary (Introduced in Senate)

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

Officials and money

Sponsor: Sen. Merkley, Jeff [D-OR] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Merkley, Jeff [D-OR] reported raising $5.4 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (3)

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.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.
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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s1373.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>

Record fed-us-cong113-s1373 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113