The bill aimed at helping struggling homeowners also requires documentation of servicer behavior and FHFA evaluation of the services provided to borrowers.
House Speaker Paul Ryan's decision not to seek re-election is another sign of the difficulties Republicans will likely face holding the chamber in November, heightening pressure to move a pending regulatory relief bill as soon as possible.
The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac's regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.
The legislation, a similar version of which passed in the last Congress, would give favorable regulatory treatment to certain loans even if real estate-related fees were paid to an affiliate of the lender.
Democrats on the House and Senate banking committees are urging Republicans to hold hearings with Wells Fargo's top executives over its phony-accounts and force-placed insurance scandals.
