The U.S. House Financial Services Subcommittee on Housing and Insurance is a subcommittee of the House Committee on Financial Services. Between 2019 and 2013, it was known as the Subcommittee on Housing, Community Development and Insurance.
The Housing, Community Development and Insurance subcommittee oversees the U.S. Department of Housing and Urban Development and Ginnie Mae. The subcommittee also handles matters related to public, affordable, and rural housing, as well as community development including Empowerment Zones, and government-sponsored insurance programs, such as the National Flood Insurance Program. The jurisdiction over insurance was transferred in 2001 to the then-House Banking and Financial Services Committee from the House Energy and Commerce Committee. Since that time it had been the purview of the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. But "with plans to reform Fannie Mae and Freddie Mac expected to take up much of that panel's agenda, insurance instead [was] moved to a new Subcommittee on Insurance, Housing and Community Opportunity [as of the 112th Congress]." [1]
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John Edward Sununu is an American politician who served as a member of the U.S. House of Representatives from 1997 to 2003 and the U.S. Senate representing New Hampshire from 2003 to 2009. Sununu was the youngest member of the Senate for his entire six-year term. He also remains the only Salvadoran American ever elected to the U.S. Congress.
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations. Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac.
Daniel Kahikina Akaka was an American educator and politician who served as a United States Senator from Hawaii from 1990 to 2013. A member of the Democratic Party, Akaka was the first U.S. Senator of Native Hawaiian ancestry.
Spencer Thomas Bachus III is an American politician. He is a former U.S. Representative for the state of Alabama, serving from 1993 to 2015. A member of the Republican Party, he served as ranking member (2007–2011) and chairman (2011–2013) of the House Financial Services Committee. On September 30, 2013, Bachus announced his retirement from Congress. His term ended in 2015.
Rodney McKinnie Alexander is an American politician and member of the Republican Party who served as the Secretary of the Louisiana Department of Veterans Affairs from September 30, 2013, until June 3, 2014. Previously he was the U.S. representative for Louisiana's 5th congressional district from 2003 to 2013. First elected as a Democrat, he changed parties in 2004 to run as a Republican and was re-elected five times.
Melvin Luther Watt is an American politician who served as director of the Federal Housing Finance Agency from 2014 to 2019. He was appointed by President Barack Obama. He is a former United States Representative for North Carolina's 12th congressional district, from 1993 to 2014. He is a member of the Democratic Party.
The United States Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, has jurisdiction over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit and government contracts.
The Community Reinvestment Act is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods. Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is a publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with its sister organization, the Federal National Mortgage Association, Freddie Mac buys mortgages, pools them, and sells them as a mortgage-backed security (MBS) to private investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name "Freddie Mac" is a variant of the FHLMC initialism of the company's full name that was adopted officially for ease of identification.
The Federal Home Loan Banks are 11 U.S. government-sponsored banks that provide liquidity to financial institutions to support housing finance and community investment.
A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress. Their intended function is to enhance the flow of credit to targeted sectors of the economy, to make those segments of the capital market more efficient and transparent, and to reduce the risk to investors and other suppliers of capital. The desired effect of the GSEs is to enhance the availability and reduce the cost of credit to the targeted borrowing sectors primarily by reducing the risk of capital losses to investors: agriculture, home finance and education. Well known GSEs are the Federal National Mortgage Association, known as Fannie Mae, and the Federal Home Loan Mortgage Corporation, or Freddie Mac.
U.S. Senate Appropriations Subcommittee on Financial Services and General Government is one of twelve subcommittees of the U.S. Senate Committee on Appropriations. It was renamed from the Subcommittee on District of Columbia in 2007 in order to align the operations of the House and Senate Appropriations Committees. The United States Senate Committee on Appropriations has joint jurisdiction with the United States House Committee on Appropriations over all appropriations bills in the United States Congress. Each committee has 12 matching subcommittees, each of which is tasked with working on one of the twelve annual regular appropriations bills. This subcommittee has jurisdiction over the budget for the United States Department of the Treasury and General Government.
The United States House Committee on Financial Services, also referred to as the House Banking Committee and previously known as the Committee on Banking and Currency, is the committee of the United States House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking and housing industries. The Financial Services Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission and other financial services regulators.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
The U.S. Senate Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies is one of twelve subcommittees of the U.S. Senate Committee on Appropriations. It was formerly known as the Subcommittee on Transportation, Treasury, the Judiciary, Housing and Urban Development, and Related Agencies, but responsibility for Treasury and Judiciary funding was transferred to the Subcommittee on Financial Services and General Government in 2007. The United States Senate Committee on Appropriations has joint jurisdiction with the United States House Committee on Appropriations over all appropriations bills in the United States Congress. Each committee has 12 matching subcommittees, each of which is tasked with working on one of the twelve annual regular appropriations bills. This subcommittee has jurisdiction over the budget for the United States Department of Transportation and the United States Department of Housing and Urban Development.
U.S. House Appropriations Subcommittee on Financial Service and General Government is a subcommittee of the U.S. House Committee on Appropriations. It was created in 2007 to align the operations of the House and Senate Appropriations Committees. It was assigned jurisdiction over financial and general government programs from the former Subcommittee on Transportation, Treasury, and Housing and Urban Development, The Judiciary, District of Columbia. The United States House Committee on Appropriations has joint jurisdiction with the United States Senate Committee on Appropriations over all appropriations bills in the United States Congress. Each committee has 12 matching subcommittees, each of which is tasked with working on one of the twelve annual regular appropriations bills.
The Senate Banking Subcommittee on Housing, Transportation, and Community Development is one of five subcommittees within the Senate Committee on Banking, Housing, and Urban Affairs.
The U.S. House Financial Services Subcommittee on Capital Markets is a subcommittee of the House Committee on Financial Services. It was previously known as the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets.
Melvin Robert (Bob) Haukoos was a Minnesota politician and was a member of the Minnesota House of Representatives from 1979-1995. Haukoos, a Republican, who represented District 27A, which included all or portions of Freeborn and Mower counties in the southeastern part of the state. Haukoos also served as the mayor of Albert Lea, Minnesota from 2001-2002.
Jacklyn Sheryl Rosen is an American politician serving as the junior United States senator from Nevada since 2019. A member of the Democratic Party, she was the U.S. representative for Nevada's 3rd congressional district from 2017 to 2019.