H.R. 3556: Taxpayer Protections and Market Access for Mortgage Finance Act of 2017

115th Congress · introduced 2017-07-28 · Housing and Community Development · Latest: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

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Follow this bill, step by step

Where it came from: introduced 2017-07-28 · official record
Who proposed it: Rep. Royce, Edward R. [R-CA-39] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. 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

Taxpayer Protections and Market Access for Mortgage Finance Act of 2017

Plain summary

Taxpayer Protections and Market Access for Mortgage Finance Act of 2017 This bill amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the Federal Housing Finance Agency (FHFA) to establish guidelines requiring the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to engage in significant, increasing, and varied credit-risk transfer transactions. A "risk transfer transaction" provides for: (1) the sale, disposition, retention, or transfer within the private sector of credit risk on a one- to four-family residential mortgage loan or a pool of such loans that back securities on which the enterprise guarantees the timely payment of principal and interest; or (2) the retention by the private sector of any such credit risk in connection with the sale of any such loan or security to an enterprise. The enterprises may set and publish guarantee fees commensurate with the reduced credit risk resulting from any new risk transfer transactions. The bill exempts certain swaps entered into for the purpose of transferring or sharing credit risk in connection with a risk transfer transaction from the Commodity Exchange Act. The FHFA must also require Fannie Mae and Freddie Mac to establish: (1) a five-year pilot program under which each enterprise must annually engage in at least one front-end risk transfer transaction in which at least 75% of the transferred credit risk is transferred to bank or non-bank mortgage originators having under $10 billion in assets, and (2) a pilot program to increase the amount of risk that is shared by the enterprises using private mortgage insurance.

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

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What does this mean? (plain words)

Official text

Taxpayer Protections and Market Access for Mortgage Finance Act of 2017

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. Royce, Edward R. [R-CA-39] · 4 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Gwen Moore (D-WI), Ted Budd (R-NC)

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)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

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-115hr3556.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>

Record fed-us-cong115-hr3556 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115