I
112th CONGRESS
2d Session
H. R. 3853
IN THE HOUSE OF REPRESENTATIVES
January 31, 2012
Mr. Lynch introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To provide for semiannual actuarial studies of the FHA mortgage insurance program of the Secretary of Housing and Urban Development during periods that the Mutual Mortgage Insurance Fund does not meet minimum capital ratio requirements.
Short title
This Act may be cited as the
FHA Enhanced Oversight Act of
2012
.
Semiannual actuarial studies of MMIF during periods of capital depletion
Paragraph (4) of section 202(a) of the National Housing Act (12 U.S.C. 1708(a)(4)) is amended—
in the first
sentence, by inserting except as provided in subparagraph (B),
after to be conducted annually,
;
in the second sentence, by inserting
, except as provided in subparagraph (B),
after
annually
;
by striking the
paragraph designation and heading and all that follows through The
Secretary shall provide
and inserting the following:
Independent actuarial study
Annual study
The Secretary shall provide
; and
by adding at the end the following new subparagraph:
Semiannual studies during periods of capital depletion
During any period that the Fund fails to maintain sufficient capital to comply with the capital ratio requirement under section 205(f)(2)—
the independent study required by subparagraph (A) shall be conducted semiannually and shall analyze the financial position of the Fund as of September 30 and March 31 of each fiscal year during such period; and
the Secretary shall submit a report meeting the requirements of subparagraph (A) for each such semiannual study.
.