This bill requires the Secretary of the Treasury to report to two congressional committees about whether the Treasury completed certain proposals to end the conservatorships of Fannie Mae and Freddie Mac. The proposals are the ones described in Article IX of the Letter Agreements to the Amended and Restated Preferred Stock Purchase Agreements dated January 14, 2021. Within 30 days after the bill becomes law the Secretary must tell the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee whether those proposals were completed and must include any completed proposals. If a proposal was not completed, the Secretary must include the latest incomplete draft in that report and then finish and submit the completed proposal(s) within 90 days of enactment.
The bill only requires the Treasury to deliver documents and drafts to two congressional committees on a short timetable. It does not itself end the conservatorships or change how Fannie Mae or Freddie Mac operate. For most people, this bill creates reporting steps that could be used by Congress later when considering any changes to the housing finance system.
No publicly available information on costs or budget effects.
No publicly available information.
No publicly available information.