{"id":971,"date":"2014-03-17T09:55:11","date_gmt":"2014-03-17T13:55:11","guid":{"rendered":"http:\/\/www.us-covered-bonds.com\/staging\/9690\/?p=971"},"modified":"2022-03-27T16:44:07","modified_gmt":"2022-03-27T20:44:07","slug":"johnson-crapo-amendment-to-s-1217","status":"publish","type":"post","link":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/2014\/03\/17\/johnson-crapo-amendment-to-s-1217\/","title":{"rendered":"Johnson-Crapo Amendment to S. 1217"},"content":{"rendered":"<style scoped>\n@media screen and (min-width: 420px) {\n\t#column-6aa9d247c8773859376985 {\n\t\t-moz-column-count: 2; -webkit-column-count: 2; column-count: 2;\n\t\t-moz-column-gap: 3em; -webkit-column-gap: 3em; column-gap: 3em;\n\t}\n}\n<\/style>\n<div id=\"column-6aa9d247c8773859376985\"><span style=\"text-align:justify;\"> <p>On Sunday, March 16, 2014, the Senate Banking Committee  released a draft of an Amendment to S. 1217, which is the housing finance  reform bill introduced last year by Committee members Mark Warner (D-VA) and Bob  Corker (R-TN) to shut down FNMA and FHLMC and establish a new federal role for  housing finance.\u00a0 The amendment released  by the Committee is authored by Committee Chairman Timothy Johnson (D-SD) and  Ranking Member Michael Crapo (R-ID).\u00a0 The  amendment is introduced following a series of hearings held by the Committee last  fall on S. 1217.\u00a0 Most significantly, the  amendment continues to provide for the establishment of the Federal Mortgage  Insurance Corporation and the elimination of FNMA and FHLMC.<\/p>\r\n<p>The general view is that S. 1217 is likely to be the basis of any bill adopted to reform housing finance.\u00a0 Unfortunately  for covered bonds, there is nothing in the amendment, and nothing in the  original bill, to establish a statutory covered bond regime in the United  States.\u00a0 Accordingly, any hope for  including covered bond provisions in the bill apparently rests with the House  including such provisions in any final bill through the conference committee  process. <\/p>\r\n<p>  However, a strong majority of those present at a panel on  housing finance reform at the SFIG conference this year in Las Vegas do not  expect housing reform legislation to be enacted before 2017.\u00a0 The best prospects then for covered bond  legislation in the near future probably lie elsewhere.<\/p><\/span><\/div>\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-971","post","type-post","status-publish","format-standard","hentry","category-us-legislation","entry"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/posts\/971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/comments?post=971"}],"version-history":[{"count":10,"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/posts\/971\/revisions"}],"predecessor-version":[{"id":3027,"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/posts\/971\/revisions\/3027"}],"wp:attachment":[{"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/media?parent=971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/categories?post=971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.us-covered-bonds.com\/staging\/3708\/wp-json\/wp\/v2\/tags?post=971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}