3.0.0 492 2023-01-11T13:34:24Z 2023-01-11T13:34:24Z House HR 2017-01-12 115 [Congressional Record Volume 163, Number 8 (Thursday, January 12, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CAPUANO:H.R. 492.Congress has the power to enact this legislationpursuantto the following:Article I, Section 8, Clause 18[Page H473]]]> hsba00 Financial Services Committee House Standing Referred to 2017-01-12T15:06:15Z 2017-01-12 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-01-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-01-12 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 N Housing and Community Development Government lending and loan guarantees Government trust funds Housing finance and home ownership Housing and Community Development 00 2017-01-12 Introduced in House 2017-01-31T14:47:17Z End Unnecessary Borrowing Act of 2017

This bill amends the National Housing Act with respect to the requirement that the Department of Housing and Urban Development (HUD) endeavor to ensure that the Mutual Mortgage Insurance Fund (MMI Fund) attains a capital ratio of not less than 2% within 10 years after enactment of that requirement (November 5, 1990) and to ensure that the fund maintains at least that capital ratio at all times thereafter.

The bill prohibits these requirements from being construed to authorize or require HUD to borrow any amounts to comply with the capital ratio requirement.

Any HUD authority to borrow from the Treasury for the MMI Fund may be used only to the extent necessary to pay claims on mortgage insurance that is an obligation of such fund.

]]> End Unnecessary Borrowing Act of 2017 Display Title End Unnecessary Borrowing Act of 2017 Official Title as Introduced To ensure that any authority of the Mutual Mortgage Insurance Fund to borrow amounts from the Treasury is used only to pay mortgage insurance claims. Introduced in House IH Short Titles as Introduced End Unnecessary Borrowing Act of 2017 Introduced in House 2017-01-12T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr492ih/xml/BILLS-115hr492ih.xml 2017-01-12 Referred to the House Committee on Financial Services. 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.