Bill > HR6746

This bill, the Protecting American Taxpayers and Homeowners Act of 2018, aims to wind down the operations of Fannie Mae and Freddie Mac, reform the Federal Housing Administration (FHA), establish a national mortgage security market exchange and data repository, and address various other issues related to housing finance. Key provisions of the bill include: - Mandatory receivership for Fannie Mae and Freddie Mac within 5 years, with their charters being repealed. - Limitations on the mortgage assets and guarantee fees of Fannie Mae and Freddie Mac. - Establishment of the FHA as an independent government corporation responsible for providing mortgage insurance and other credit enhancement activities. - Requirements for the FHA to engage in risk-sharing transactions, establish capital reserve requirements, and implement various other safety and soundness measures. - Creation of a national mortgage security market exchange to establish standards for qualified securities, a national mortgage data repository, and a covered bond market. - Various provisions to remove barriers to new investment, including amendments to the Truth in Lending Act and reforms to financial institutions examinations. - Transferring authority over the Rural Housing Service programs from the Department of Agriculture to the FHA. The bill is intended to enhance efficiency, liquidity, and security in the secondary mortgage market, while ensuring the FHA operates in a safe and sound manner to serve its public purposes.

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https://www.congress.gov/bill/115th-congress/house-bill/6746/all-info