Text: H.R.264 — 113th Congress (2013-2014)All Information (Except Text)

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Introduced in House (01/15/2013)

 
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 264 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 264

    To provide for semiannual actuarial studies of the FHA mortgage 
  insurance program of the Secretary of Housing and Urban Development 
 during periods that the Mutual Mortgage Insurance Fund does not meet 
                  minimum capital ratio requirements.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 15, 2013

  Mr. Lynch introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To provide for semiannual actuarial studies of the FHA mortgage 
  insurance program of the Secretary of Housing and Urban Development 
 during periods that the Mutual Mortgage Insurance Fund does not meet 
                  minimum capital ratio requirements.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``FHA Enhanced Oversight Act of 
2013''.

SEC. 2. SEMIANNUAL ACTUARIAL STUDIES OF MMIF DURING PERIODS OF CAPITAL 
              DEPLETION.

    Paragraph (4) of section 202(a) of the National Housing Act (12 
U.S.C. 1708(a)(4)) is amended--
            (1) in the first sentence, by inserting ``except as 
        provided in subparagraph (B),'' after ``to be conducted 
        annually,'';
            (2) in the second sentence, by inserting ``, except as 
        provided in subparagraph (B),'' after ``annually'';
            (3) by striking the paragraph designation and heading and 
        all that follows through ``The Secretary shall provide'' and 
        inserting the following:
            ``(4) Independent actuarial study.--
                    ``(A) Annual study.--The Secretary shall provide''; 
                and
            (4) by adding at the end the following new subparagraph:
                    ``(B) Semiannual studies during periods of capital 
                depletion.--During any period that the Fund fails to 
                maintain sufficient capital to comply with the capital 
                ratio requirement under section 205(f)(2)--
                            ``(i) the independent study required by 
                        subparagraph (A) shall be conducted 
                        semiannually and shall analyze the financial 
                        position of the Fund as of September 30 and 
                        March 31 of each fiscal year during such 
                        period; and
                            ``(ii) the Secretary shall submit a report 
                        meeting the requirements of subparagraph (A) 
                        for each such semiannual study.''.
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