113 HR 2167 ENR: To authorize the Secretary of Housing and Urban Development to establish additional requirements to improve the fiscal safety and soundness of the home equity conversion mortgage insurance program.
House Bill2167113 HR 2167 ENR
113hr2167enr
113 H.R. 2167 ENR
United States House of RepresentativesUnited States Government Publishing Officetext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.ENR
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H. R.2167
One Hundred Thirteenth Congress of the United States of AmericaA T T H E F I R S T S E S S I O N
Begun and held at the City of Washington on Thursday, the third day of January, two thousand and thirteen
An Act
To authorize the Secretary of Housing and Urban Development to establish additional requirements to improve the fiscal safety and soundness of the home equity conversion mortgage insurance program.
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 “Reverse Mortgage Stabilization Act of 2013”.
SEC. 2. ADDITIONAL SAFETY AND SOUNDNESS REQUIREMENTS FOR HOME EQUITY CONVERSION MORTGAGE INSURANCE PROGRAM. Subsection (h) of section 255 of the National Housing Act ([12 U.S.C. 1715z–20(h)]) is amended—(1) in paragraph (1), by striking “and” at the end;(2) in paragraph (2), by striking the period at the end and inserting “; and”; and(3) by adding at the end the following new paragraph:“(3) establish, by notice or mortgagee letter, any additional or alternative requirements that the Secretary, in the Secretary’s discretion, determines are necessary to improve the fiscal safety and soundness of the program authorized by this section, which requirements shall take effect upon issuance.”.
Speaker of the House of Representatives.
Vice President of the United States and President of the Senate.