Ginnie Mae Oversight and Accountability Act of 2021

Bill: 117-hr-2322
Sponsor: full_name: Rep. Kustoff, David [R-TN-8]
Introduced: 2021-04-01
Policy area: Finance and Financial Sector
Subjects: Congressional oversight

Government corporations and government-sponsored enterprises

Government lending and loan guarantees

Housing finance and home ownership

Securities
Latest action: action_date: 2021-04-01
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2021-04-01
action_desc: Introduced in House
text: <p><strong>Ginnie Mae Oversight and Accountability Act of 2021 </strong></p> <p>This bill requires the Government National Mortgage Association (Ginnie Mae) to annually testify before the appropriate congressional committees regarding the financial status of Ginnie Mae, the performance of its securities and the issuers of such securities, and any administrative or market challenges faced by Ginnie Mae's business model. (Ginnie Mae guarantees mortgage-backed securities linked to federally-backed mortgages.)</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2322 IN THE HOUSE OF REPRESENTATIVES April 1, 2021 Mr. Kustoff introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the President of the Government National Mortgage Association to testify annually before the Congress, and for other purposes.

1. Short title This Act may be cited as the Ginnie Mae Oversight and Accountability Act of 2021 . 2. Annual testimony Subsection (a) of section 308 of the National Housing Act ( 12 U.S.C. 1723(a) ) is amended— (1) by inserting (1) after the subsection designation; (2) in the last undesignated paragraph, by inserting (2) before There ; and (3) by adding at the end the following new paragraph: (3) The President of the Association shall appear not less frequently than annually before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate regarding the financial status of the Association, the performance of its securities and the issuers of such securities, and any administrative or market challenges faced by the business model of the Association. .