Reverse Mortgage Stabilization Act of 2013

Bill: 113-hr-2167
Sponsor: full_name: Rep. Heck, Denny [D-WA-10]
Introduced: 2013-05-23
Policy area: Housing and Community Development
Subjects: Administrative law and regulatory procedures

Department of Housing and Urban Development

Housing finance and home ownership
Latest action: action_date: 2013-08-09
text: Became Public Law No: 113-29.

Summaries:
action_date: 2013-05-23
action_desc: Introduced in House
text: <p>Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners, to authorize the Secretary of Housing and Urban Development (HUD) to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the reverse mortgage program.</p> <p>Declares that such requirements shall take effect upon issuance.</p>

action_date: 2013-05-23
action_desc: Passed House without amendment
text: <p><b>(This measure has not been amended since it was introduced. The summary of that version is repeated here.)</b></p> <p>Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners, to authorize the Secretary of Housing and Urban Development (HUD) to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the reverse mortgage program.</p> <p>Declares that such requirements shall take effect upon issuance.</p>

action_date: 2013-07-30
action_desc: Passed Senate without amendment
text: <p><b>(This measure has not been amended since it was introduced. The summary of that version is repeated here.)</b></p> <p>Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners, to authorize the Secretary of Housing and Urban Development (HUD) to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the reverse mortgage program.</p> <p>Declares that such requirements shall take effect upon issuance.</p>

action_date: 2013-08-09
action_desc: Public Law
text: <b> <p />(This measure has not been amended since it was introduced. The summary of that version is repeated here.) </b> <p />Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners, to authorize the Secretary of Housing and Urban Development (HUD) to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the reverse mortgage program. <p>Declares that such requirements shall take effect upon issuance.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 2167 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.

1. Short title This Act may be cited as the Reverse Mortgage Stabilization Act of 2013 . 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. .

tv_txt: IIB 113th CONGRESS 1st Session H. R. 2167 IN THE SENATE OF THE UNITED STATES June 13, 2013 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT 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.

1. Short title This Act may be cited as the Reverse Mortgage Stabilization Act of 2013 . 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. .

Passed the House of Representatives June 12, 2013. Karen L. Haas, Clerk

tv_txt: I 113th CONGRESS 1st Session H. R. 2167 IN THE HOUSE OF REPRESENTATIVES AN ACT 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.

1. Short title This Act may be cited as the Reverse Mortgage Stabilization Act of 2013 . 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. .

Passed the House of Representatives June 12, 2013. Karen L. Haas, Clerk.

tv_txt: I One Hundred Thirteenth Congress of the United States of America At the First Session Begun and held at the City of Washington on Thursday, the third day of January, two thousand and thirteen H. R. 2167 AN ACT 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.

1. Short title This Act may be cited as the Reverse Mortgage Stabilization Act of 2013 . 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. .

Speaker of the House of Representatives. Vice President of the United States and President of the Senate.