[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2892 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 2892

    To amend section 255 of the National Housing Act to remove the 
limitation on the number of reverse mortgages that may be insured under 
         the FHA mortgage insurance program for such mortgages.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 14, 2005

Mr. Fitzpatrick of Pennsylvania (for himself, Mr. Matheson, Mrs. Kelly, 
Mr. Frank of Massachusetts, Mr. Gary G. Miller of California, Ms. Ginny 
 Brown-Waite of Florida, Mr. McHenry, Mr. Price of North Carolina, and 
 Ms. Harris) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To amend section 255 of the National Housing Act to remove the 
limitation on the number of reverse mortgages that may be insured under 
         the FHA mortgage insurance program for such mortgages.

    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 Mortgages to Help America's 
Seniors Act''.

SEC. 2. ELIMINATION OF CAP ON NUMBER OF MORTGAGES INSURED.

    Section 255 of the National Housing Act (12 U.S.C. 1715z-20) is 
amended--
            (1) in subsection (g), by striking the first sentence; and
            (2) in subsection (i)(1)(C), by striking ``limitations'' 
        and inserting ``limitation''.
                                 <all>