[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2167 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2167

    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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 23, 2013

Mr. Heck of Washington (for himself and Mr. Fitzpatrick) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
    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.''.
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