3.0.0 2803 2023-01-15T05:47:35Z 2023-01-15T05:47:35Z House H HR 2003-07-21 108 hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Referred to 2003-08-04T16:02:01Z Referred to 2003-07-21T16:30:40Z 2003-08-04 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Committee 2003-07-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2003-07-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2003-07-21 Introduced in House IntroReferral 1000 9 Library of Congress R000487 Rep. Royce, Edward R. [R-CA-40] ED ROYCE R CA 40 N Housing and Community Development Administrative fees Administrative procedure Advice and consent of the Senate Bank capital Bank employees Bank examination Commerce Congress Delegation of powers Department of Housing and Urban Development Department of the Treasury Economics and Public Finance Employee rights Executive reorganization Federal Housing Finance Board Federal employees Federal home loan banks Federal officials Finance and Financial Sector Fines (Penalties) Government Operations and Politics Government paperwork Government trust funds Holding companies Injunctions Labor and Employment Law Mortgages Presidential appointments Savings and loan associations Secondary mortgage market Standards Transfer of employees Housing and Community Development 00 2003-07-21 Introduced in House 2003-10-31T15:16:03Z Housing Finance Regulatory Restructuring Act of 2003 - Amends the Housing and Community Development Act of 1992 to establish the Office of Housing Finance Oversight (Office) as the regulatory authority for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (enterprises) in lieu of the regulatory authority of : (1) the Director of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development; (2) the Federal Housing Finance Board; and (3) the general regulatory and other authority of the Secretary of Housing and Urban Development.

Prohibits the Secretary of the Treasury (Secretary) from merging or consolidating the functions or responsibilities of the Office with any other office or bureau of the Department of the Treasury, or with any other function or program administered by the Secretary.

Establishes the position of the Director of the Office, subject to the general oversight of the Secretary.

Prohibits the Secretary from: (1) intervening in any matter or proceeding before the Director unless specifically provided by law; or (2) delaying or preventing the issuance of any rule or promulgation of any regulation by the Director.

Directs the Director to ensure that the enterprises and the Federal home loan banks are adequately capitalized and operating safely.

Makes conforming amendments to: (1) Federal National Mortgage Association Charter Act; (2) Federal Home Loan Mortgage Corporation Act; (3) Federal criminal law; (4) Flood Disaster Protection Act of 1973; (5) Housing and Community Development Act of 1980; (6) Federal Home Loan Act; (7) Federal law governing executive schedule pay rates; and (8) Federal Financial Institutions Examination Council Act of 1978.

Abolishes the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development, and the Federal Housing Finance Board. Transfers to the Office their respective functions, personnel, and property.

]]> Housing Finance Regulatory Restructuring Act of 2003 Display Title Housing Finance Regulatory Restructuring Act of 2003 Official Title as Introduced To establish the Office of Housing Finance Oversight in the Department of the Treasury to ensure the financial safety and soundness of Fannie Mae, Freddie Mac, and the Federal home loan banks. Introduced in House IH Short Titles as Introduced Housing Finance Regulatory Restructuring Act of 2003 Introduced in House 2003-07-21T04:00:00Z 2003-08-04 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.