HR 1977

112th CONGRESS
1st Session

H. R. 1977

To improve the financial safety and soundness of the FHA mortgage insurance program.

IN THE HOUSE OF REPRESENTATIVES

May 24, 2011

Ms. WATERS (for herself, Mr. FRANK of Massachusetts, and Mr. GUTIERREZ) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To improve the financial safety and soundness of the FHA mortgage insurance program.

SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.

SEC. 2. INDEMNIFICATION BY MORTGAGEES.

SEC. 3. DELEGATION OF INSURING AUTHORITY.

SEC. 4. AUTHORITY TO TERMINATE MORTGAGEE ORIGINATION AND UNDERWRITING APPROVAL.

SEC. 5. DEPUTY ASSISTANT SECRETARY OF FHA FOR RISK MANAGEMENT AND REGULATORY AFFAIRS.

SEC. 6. REVIEW OF MORTGAGEE PERFORMANCE.

SEC. 7. COORDINATION WITH STATE REGULATORY AGENCIES.

SEC. 8. REPORTING OF MORTGAGEE ACTIONS TAKEN AGAINST OTHER MORTGAGEES.

SEC. 9. REVIEW OF DOWNPAYMENT REQUIREMENTS.

SEC. 10. AUTHORIZATION TO PARTICIPATE IN THE ORIGINATION OF FHA-INSURED LOANS.

SEC. 11. DEFAULT AND ORIGINATION INFORMATION BY LOAN SERVICER AND ORIGINATING DIRECT ENDORSEMENT LENDER.

SEC. 12. THIRD PARTY SERVICER OUTREACH.

SEC. 13. MAXIMUM MORTGAGE AMOUNT LIMITS FOR MULTIFAMILY HOUSING.

SEC. 14. MORTGAGE INSURANCE PREMIUM REFUNDS.

END