H.R.1255 - Home Construction Lending Regulatory Improvement Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Miller, Gary G. [R-CA-31] (Introduced 03/19/2013)|
|Committees:||House - Financial Services|
|Latest Action:||House - 03/19/2013 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1255 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (03/19/2013)
Home Construction Lending Regulatory Improvement Act of 2013 - Directs the appropriate federal banking agencies to initiate a coordinated rulemaking with respect to financial institutions under their respective jurisdictions that make real estate loans to home builders.
Requires such rulemaking to provide for: (1) elimination of the 100% of bank capital measurement, (2) realistic market-based appraisals, and (3) a prohibition against compelling lenders to call or curtail loans in good standing.
Prohibits a federal banking agency from preventing a qualified financial institution from making a real estate loan to a home builder that has a viable project.