Housing Opportunity and Mortgage Equity Act of 2009

Referred to the House Committee on Financial Services.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Jan 7, 2009

Housing Opportunity and Mortgage Equity Act of 2009 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the enterprises) to implement a program to purchase and securitize qualified refinancing mortgages and qualified new mortgages on single-family housing in accordance with policies and procedures established by the Director of the Federal Housing Finance Agency (FHFA).

Sets forth requirements for the purchase and securitization of qualified mortgages.

Directs the Board of Governors of the Federal Reserve System to establish a credit facility of the Federal Reserve System to make credit available to the enterprises at interest rates comparable to certain rates on securities issued by the Secretary of the Treasury.

Terminates the requirement under this Act for the enterprises to purchase mortgages after December 31, 2010.

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People & committees

Who introduced it

Rep. Cardoza, Dennis A. [D-CA-18] · D–CA

Committees

Financial Services Committee

6 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Jan 7, 2009
Referred to the House Committee on Financial Services.
Jan 7, 2009
Introduced in House
Jan 7, 2009
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Jan 7, 2009 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

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Neutral evidence review

Objective

Analyze H.R.230 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.230, 111th Congress: Housing Opportunity and Mortgage Equity Act of 2009

Official record: https://www.congress.gov/bill/111th-congress/house-bill/230

Text version to examine: Introduced in House · 2009-01-07.

Official full text: https://www.congress.gov/111/bills/hr230/BILLS-111hr230ih.htm

Imported record last updated by the source: 2025-08-14T16:14:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.230 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.230 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.230, 111th Congress: Housing Opportunity and Mortgage Equity Act of 2009

Official record: https://www.congress.gov/bill/111th-congress/house-bill/230

Text version to examine: Introduced in House · 2009-01-07.

Official full text: https://www.congress.gov/111/bills/hr230/BILLS-111hr230ih.htm

Imported record last updated by the source: 2025-08-14T16:14:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.230 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.230 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.230, 111th Congress: Housing Opportunity and Mortgage Equity Act of 2009

Official record: https://www.congress.gov/bill/111th-congress/house-bill/230

Text version to examine: Introduced in House · 2009-01-07.

Official full text: https://www.congress.gov/111/bills/hr230/BILLS-111hr230ih.htm

Imported record last updated by the source: 2025-08-14T16:14:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.230 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.230 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.230, 111th Congress: Housing Opportunity and Mortgage Equity Act of 2009

Official record: https://www.congress.gov/bill/111th-congress/house-bill/230

Text version to examine: Introduced in House · 2009-01-07.

Official full text: https://www.congress.gov/111/bills/hr230/BILLS-111hr230ih.htm

Imported record last updated by the source: 2025-08-14T16:14:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.230 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.