Public Law 113–29: 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.Public Law29Public Law 113–29127 Stat. 5092013-08-092013-08-09United States Government Publishing OfficeNational Archives and Records AdministrationOffice of the Federal Registertext/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.GPO Locator to USLM Converter 4.15.31;Stage2.202507022026-01-03113publicPUBLIC LAW 113–29—AUG. 9, 2013127 STAT. 509Public Law113–29113th CongressAn ActTo 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.
Aug. 9, 2013
[H.R. 2167]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Reverse Mortgage Stabilization Act of 2013.
12 USC 1701 note.
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.”.ApprovedAugust 9, 2013.LEGISLATIVE HISTORY—H.R. 2167:CONGRESSIONAL RECORD, Vol. 159 (2013):