To amend the National Housing Act to require the Secretary of Housing and Urban Development to issue guidance to reduce up-front premiums for FHA-insured mortgages if the capital ratio of the Mutual Mortgage Insurance Fund exceeds the statutory limit, and for other purposes.
About This Bill
Committee
Latest Action · March 2, 2017
Referred to the House Committee on Financial Services.
This bill amends the National Housing Act to require the Department of Housing and Urban Development (HUD) to: (1) on a monthly basis, review the capital ratio of the Mutual Mortgage Insurance Fund; and (2) upon determining whether the fund's capital ratio exceeds a specified limit, either issue guidance to reduce up-front premiums on mortgages insured by the Federal Housing Administration or report to Congress on why HUD has determined not to reduce such premiums.
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