[20080326]RS22799_2008年《美国人民复苏回扣和经济刺激法案》和大额抵押贷款.pdf

1 H.R. 5140 was introduced in the 110th Congress by Representative Nancy Pelosi on January 28,2008, as a bipartisan bill with 15 cosponsors. It was passed by the House and sent to the Senateon January 29, 2008. The Senate passed the bill on February 7, 2008.Order Code RS22799Updated March 26, 2008The Recovery Rebates and EconomicStimulus for the American People Act of 2008and Jumbo MortgagesN. Eric WeissAnalyst in Financial EconomicsGovernment and Finance DivisionSummaryH.R. 5140, the Recovery Rebates and Economic Stimulus for the American PeopleAct of 2008,1 would temporarily increase the maximum size of loans that Fannie Maeand Freddie Mac can purchase, and that the Federal Housing Administration (FHA) caninsure. These new maximums would vary depending on area housing prices, but wouldbe $729,750 or less.The likely result of these provisions would be to reduce interest rate and mortgagepayments on mortgages above the current $417,000 limit. For example, the monthlyprincipal and interest payments on a 30-year fixed-rate mortgage for $600,000 are likelyto fall from $3,824 to $3,377, saving $447 per month. Monthly tax and insurancepayments would be additional. A mortgage of this siz