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: Jews in the Progressive Era

Georgetown University Professor Jonathan Ray looks at the lives of American Jews in the Progressive Era, including questions about Jewish assimilation into the wider American culture. He discusses Jewish support of socialism and organized labor, as well as issues of discrimination against Jews in the workplace and in society. He also examines ethnic, racial and religious differences within the Jewish community itself. 

Lectures in History: Satchel Paige, Negro Leagues Baseball & Civil Rights
Saturday, April 12, 2014     

University of Miami history professor Donald Spivey teaches a class on African American baseball pitcher Satchel Paige and how he and those involved in the Negro Leagues contributed to the fight for civil rights. 

Lectures in History: World War II, the Pacific & the Atomic Bomb
Saturday, April 5, 2014     

U.S. Air Force Academy history professor Grant Weller teaches a class on America’s use of atomic bombs against Japan at the end of World War II. Professor Weller and his class discuss American and Japanese military strategies in the months leading up to the attacks at Hiroshima and Nagasaki. The class also covers Japanese social and political attitudes, American motivation for dropping the bomb and the considerations involved in choosing target cities. 

Lectures in History: Muckraker Jacob Riis & Gilded Age New York City
Saturday, March 29, 2014     

Mount Holyoke College history professor Daniel Czitrom teaches a class on Jacob Riis, who was one of the pioneers of muckraking journalism. His photographs of life in New York City’s tenements during the Gilded Age highlighted the difficult living conditions there and his work was used to lobby for reform. An immigrant himself, Riis’ photography and book, “How the Other Half Lives,” gave insight into the lives of immigrants, many of whom were racial and religious minorities. 

Lectures in History: Gay Men & Lesbians in Early 20th Century America
Saturday, March 22, 2014     

Santa Clara University Professor Nancy Unger and her class discuss shifting American attitudes toward gay men and lesbians in the early 20th century.

Lectures in History: Andrew Johnson & the 14th Amendment
Saturday, March 15, 2014     

University of Maryland history professor Michael Ross teaches a class on Andrew Johnson, the beginnings of Reconstruction and the origins of the 14th Amendment.  Johnson was Lincoln's vice president, and ascended to the presidency following Lincoln's assassination in April 1865.

Share This Event Via Social Media

Related Resources

C-SPAN Radio
Questions? Comments? Email us at