S.2036 / 110th Congress

Protecting Access to Safe Mortgages Act

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Sep 10, 2007

Protecting Access to Safe Mortgages Act - Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to increase mortgage portfolio limitations placed upon: (1) the Federal National Mortgage Association (Fannie Mae); and (2) the Federal Home Loan Mortgage Corporation (Freddie Mac), respectively.

Instructs the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development (HUD) to lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Decree; and (2) the voluntary temporary growth limitation described in a certain Freddie Mac Letter.

Requires 50% of such portfolio increase to be used on loans which have had or will have interest rate resets between June 2005 and December 2009.

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People & committees

Who introduced it

Sen. Schumer, Charles E. [D-NY] · D–NY

Committees

Banking, Housing, and Urban Affairs Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Sep 10, 2007
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 10, 2007
Introduced in Senate

Primary sources

Bill text & related measures

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

Introduced in Senate · Sep 10, 2007 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

HR 3777 · Protecting Access to Safe Mortgages Act

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

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Analyze S.2036 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 S.2036, 110th Congress: Protecting Access to Safe Mortgages Act

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/2036

Text version to examine: Introduced in Senate · 2007-09-10.

Official full text: https://www.congress.gov/110/bills/s2036/BILLS-110s2036is.htm

Imported record last updated by the source: 2025-08-14T18:12:57Z. 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 S.2036 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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Progressive lens

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Discuss S.2036, 110th Congress: Protecting Access to Safe Mortgages Act

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/2036

Text version to examine: Introduced in Senate · 2007-09-10.

Official full text: https://www.congress.gov/110/bills/s2036/BILLS-110s2036is.htm

Imported record last updated by the source: 2025-08-14T18:12:57Z. 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 S.2036 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.

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Examine S.2036 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.

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Discuss S.2036, 110th Congress: Protecting Access to Safe Mortgages Act

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/2036

Text version to examine: Introduced in Senate · 2007-09-10.

Official full text: https://www.congress.gov/110/bills/s2036/BILLS-110s2036is.htm

Imported record last updated by the source: 2025-08-14T18:12:57Z. 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.

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Discuss S.2036, 110th Congress: Protecting Access to Safe Mortgages Act

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/2036

Text version to examine: Introduced in Senate · 2007-09-10.

Official full text: https://www.congress.gov/110/bills/s2036/BILLS-110s2036is.htm

Imported record last updated by the source: 2025-08-14T18:12:57Z. 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 S.2036 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.