All Weekend, Every Weekend. On C-SPAN3.

Homeowner Refinance Bill Moves into Committee

Washington, DC
Thursday, May 24, 2012

The Senate Banking Committee heard testimony today on legislation that would expand the number of homeowners who could refinance and take advantage of record low interest rates. The bill, co-sponsored by Senators Barbara Boxer of California and Bob Menendez of New Jersey, would apply to those who are current on their payments and whose loans are backed by Fannie Mae and Freddie Mac. The bill would also eliminate all up-front fees and appraisal costs for borrowers, as well as streamline refinancing applications.

As part of his “To Do List” for Congress, the President has been urging lawmakers to cut red tape so that responsible homeowners who have been paying their mortgages on time can refinance before current rates increase.

The bill has garnered industry support and several Republicans have shown interest.  There is also a wide range of backing from organizations including Americans for Financial Reform, National Association of Home Builders, National Association of Realtors, Quicken Loans and other housing-related groups.

Bill Emerson, Chief Executive of Quicken Loans, testified alongside Moody's Analytics Chief Economist Mark Zandi.

Updated: Thursday, May 24, 2012 at 1:56pm (ET)

Related Events

President Announces New Housing Initiatives
Wednesday, February 1, 2012     

President Obama traveled to Falls Church, Virginia where he addressed new initiatives in mortgage refinancing, some of which he announced during last weeks State of the Union speech. He discussed mortgage refinancing and a new homeowners "bill of rights."

FHFA Head Explores Ways to Fix a Weak Housing Market
Tuesday, April 10, 2012     

The head of the agency regulating Fannie Mae and Freddie Mac Tuesday said the two mortgage holding companies could see benefits from reducing loan amounts for some homeowners. FHFA Acting Dir. Edward DeMarco and a panel of housing finance experts discussed the housing market of a principal reduction program.

Conference Examines the U.S. Economy and Housing Market
Friday, April 20, 2012     

The National Community Reinvestment Coalition hosts a conference on the U.S. economy and the housing market. Office of Mortgage Settlement Oversight Monitor Joseph Smith participated.

Housing Secretary Discusses Plan to Help Homeowners Refinance
Tuesday, May 8, 2012     

Housing and Urban Development Secretary Shaun Donovan outlined the administration’s plans to help homeowners refinance their mortgages Tuesday.

Lectures in History: Modernizing the Home and Workplace

Vanderbilt University professor Sarah Igo talks about the societal shift that occurred during the early 20th century as as modernization impacted businesses and households. Igo focuses on the literary works of individuals such as Christine Frederick, proponent of home economics, and Frederick Winslow Taylor, who sought to improve industrial efficiency. 

Lectures in History: Life & Legacy of Booker T. Washington
Saturday, October 18, 2014     

Mercer University professor Chester Fontenot examines the life and legacy of Booker T. Washington. Fontenot talks about Washington’s early years at Tuskegee University and looks at his ideological platform which encouraged African Americans to establish their own economic base. While Washington helped create many institutions for African Americans, such as the National Negro Business League, he also had opposition to his ideas, both during his lifetime and since. Fontenot also compares the ideas and tactics of Booker T. Washington and Rev. Martin Luther King Jr. 

Lectures in History: Colonial America & King George’s War
Saturday, October 11, 2014     

Iowa State University professor Timothy Wolters talks about King George’s War, which took place in the 1740s in North America between European colonial powers. While the fighting in the war was ultimately inconclusive, it did help establish regional identities for the colonies. Also, the fighting gave American colonists valuable experience for their own revolution in the coming years. 

Lectures in History: Remembering the Civil War
Saturday, September 27, 2014     

Central Connecticut State University professor Robert Wolff and his class examine how the memory of the Civil War has changed from its 50th and 100th anniversaries to the present. 

Lectures in History: Civil Rights & the “War on Poverty”
Saturday, September 20, 2014     

Oregon State University professor Marisa Chappell discusses the Civil Rights movement in the 1960s and the anti-poverty and entitlement programs that were part of President Lyndon Johnson’s “War on Poverty.” She also details the societal attitudes toward impoverished minorities at the time, focusing on the challenges faced by single mothers. 

Lectures in History: Korean War POWs
Saturday, September 13, 2014     

U.S. Naval Academy history professor Lori Bogle teaches a class on the American soldiers taken prisoner during the Korean War, including the effects of captivity and attempts at political indoctrination. 

Share This Event Via Social Media

Related Resources

Washington Journal (late 2012)