Sec. 324. Minimum and critical capital levels. 
Sec. 325. Review of and authority over enterprise assets and liabilities. 
Sec. 326. Corporate governance of enterprises. 
Sec. 327. Required registration under Securities Exchange Act of 1934. 
Sec. 328. Liaison with Financial Institutions Examination Council. 
Sec. 329. Guarantee fee study. 
Sec. 330. Conforming amendments. 
CHAPTER 2—IMPROVEMENT OF MISSION SUPERVISION 
Sec. 331. Transfer of product approval and housing goal oversight. 
Sec. 332. Review of enterprise products. 
Sec. 333. Conforming loan limits. 
Sec. 334. Annual housing report regarding regulated entities. 
Sec. 335. Annual reports by regulated entities on affordable housing stock. 
Sec. 336. Mortgagor identification requirements for mortgages of regulated enti-
ties. 
Sec. 337. Revision of housing goals. 
Sec. 338. Duty to serve underserved markets. 
Sec. 339. Monitoring and enforcing compliance with housing goals. 
Sec. 340. Affordable Housing Fund. 
Sec. 341. Consistency with mission. 
Sec. 342. Enforcement. 
Sec. 343. Conforming amendments. 
CHAPTER 3—PROMPT CORRECTIVE ACTION 
Sec. 345. Capital classifications. 
Sec. 346. Supervisory actions applicable to undercapitalized regulated entities. 
Sec. 347. Supervisory actions applicable to significantly undercapitalized regu-
lated entities. 
Sec. 348. Authority over critically undercapitalized regulated entities. 
Sec. 349. Conforming amendments. 
CHAPTER 4—ENFORCEMENT ACTIONS 
Sec. 351. Cease-and-desist proceedings. 
Sec. 352. Temporary cease-and-desist proceedings. 
Sec. 353. Prejudgment attachment. 
Sec. 354. Enforcement and jurisdiction. 
Sec. 355. Civil money penalties. 
Sec. 356. Removal and prohibition authority. 
Sec. 357. Criminal penalty. 
Sec. 358. Subpoena authority. 
Sec. 359. Conforming amendments. 
CHAPTER 5—GENERAL PROVISIONS 
Sec. 361. Boards of enterprises. 
Sec. 362. Report on portfolio operations, safety and soundness, and mission of en-
terprises. 
Sec. 363. Conforming and technical amendments. 
Sec. 364. Study of alternative secondary market systems. 
Sec. 365. Effective date.
Subtitle B—Federal Home Loan Banks 
Sec. 371. Definitions. 
Sec. 372. Directors. 
Sec. 373. Federal Housing Finance Agency oversight of Federal Home Loan 
Banks. 
Sec. 374. Joint activities of Banks. 
Sec. 375. Sharing of information between Federal Home Loan Banks. 
Sec. 376. Reorganization of Banks and voluntary merger. 
Sec. 377. Securities and Exchange Commission disclosure. 
Sec. 378. Community financial institution members. 
Sec. 379. Technical and conforming amendments. 
Sec. 380. Study of affordable housing program use for long-term care facilities. 
Sec. 381. Effective date. 
Subtitle C—Transfer of Functions, Personnel, and Property of Office of Federal 
Housing Enterprise Oversight, Federal Housing Finance Board, and Depart-
ment of Housing and Urban Development 
CHAPTER 1—OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT 
Sec. 385. Abolishment of OFHEO. 
Sec. 386. Continuation and coordination of certain regulations. 
Sec. 387. Transfer and rights of employees of OFHEO. 
Sec. 388. Transfer of property and facilities. 
CHAPTER 2—FEDERAL HOUSING FINANCE BOARD 
Sec. 391. Abolishment of the Federal Housing Finance Board. 
Sec. 392. Continuation and coordination of certain regulations. 
Sec. 393. Transfer and rights of employees of the Federal Housing Finance 
Board. 
Sec. 394. Transfer of property and facilities. 
CHAPTER 3—DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 
Sec. 395. Termination of enterprise-related functions. 
Sec. 396. Continuation and coordination of certain regulations. 
Sec. 397. Transfer and rights of employees of Department of Housing and Urban 
Development. 
Sec. 398. Transfer of appropriations, property, and facilities. 
TITLE IV—EMERGENCY MORTGAGE LOAN MODIFICATION 
Sec. 401. Short title. 
Sec. 402. Safe harbor for qualified loan modifications or workout plans for cer-
tain residential mortgage loans. 
TITLE V—OTHER HOUSING PROVISIONS 
Sec. 501. Depository Institution Community Development Investments Enhance-
ment. 
Sec. 502. Preservation of certain affordable housing dwelling units. 
Sec. 503. Eligibility of certain projects for enhanced voucher assistance. 
Sec. 504. Transfer of certain rental assistance contracts. 
Sec. 505. Protection against discriminatory treatment.
TITLE 
I—FHA 
HOUSING 
STA-
BILIZATION 
AND 
HOME-
OWNERSHIP RETENTION 
SEC. 101. SHORT TITLE. 
This title may be cited as the ‘‘FHA Housing Sta-
bilization and Homeownership Retention Act of 2008’’. 
Subtitle A—Homeownership 
Retention 
SEC. 111. PURPOSES. 
The purposes of this subtitle are— 
(1) to create an FHA program, which is vol-
untary on the part of borrowers and existing mort-
gage loan holders, including both existing senior 
mortgage loan holders and existing subordinate mort-
gage loan holders, to insure refinance loans for sub-
stantial numbers of borrowers at risk of foreclosure, at 
levels which are reasonably likely to be sustainable 
through enhanced affordability of debt service; 
(2) to provide flexible underwriting for FHA-in-
sured loans under such a program to provide refi-
nancing opportunities under fiscally responsible 
terms, including higher fees commensurate with high-
er risk levels, a seasoning requirement for higher debt 
to income loans, and additional program controls to 
limit and control risk;