118th Congress Finance and Financial Sector
S. 2687: Protecting America's Property Rights Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires title insurance on conventional mortgages purchased by Fannie Mae and Freddie Mac. Specifically, these mortgages must be secured by real property and the priority of the mortgage lien must be insured by a title insurance company that is licensed and authorized to do business in the appropriate state, territory, or district.
The bill also prohibits Fannie Mae and Freddie Mac from implementing any new program without the approval of the Federal Housing Finance Agency (FHFA), in addition to the approval of the Department of the Treasury as under current law. Approval from both is also required for any new activity, product, or type of risk.
FHFA must appear before Congress on a semiannual basis regarding new programs, activities, products, or types of risk.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Katie Britt R-AL
- Deb Fischer R-NE
Who scored on this bill
No member has earned points from it yet.
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History
- Introduced in the Senate by John Kennedy.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.