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Code · BILL · 113th Congress · H.R. 2767 (Introduced in House) — To protect American taxpayers and homeowners by creating a sustainable housing finance system for the 21st century. · Sec. 2

Sec. 2. Table of contents

870 words·~4 min read·/bill/113/hr/2767/ih/section-2·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The table of contents for this Act is as follows: Sec. 1. Short title. Sec. 2. Table of contents. Title I—Wind-down of Fannie Mae and Freddie Mac Sec. 101. Short title. Sec. 102. Definitions. Sec. 103. Termination of current conservatorship; mandatory receivership. Sec. 104. Limitations on enterprise authority. Sec. 105. Modifications to increases in conforming loan limits. Sec. 106. Mandatory risk-sharing. Sec. 107. Limitation of enterprise mortgage purchases to qualified mortgages.
Sec. 108. Prohibition relating to use of power of eminent domain. Sec. 109. Receiver’s discretionary authority to create receivership entity. Sec. 110. Authority of receiver to repeal enterprise charter. Title II—FHA Reform Sec. 201. Short title. Sec. 202. Definitions. Subtitle A—Organization Sec. 211. Establishment. Sec. 212. Purposes. Sec. 213. General powers. Sec. 214. Board of Directors. Sec. 215. Officers and personnel. Sec. 216. Financial, underwriting, and operations systems.
Sec. 217. Procurement. Sec. 218. Applicability of laws. Sec. 219. Evaluation. Sec. 220. Funding. Sec. 221. Effective date. Subtitle B—Business authority and requirements Sec. 231. Authority to carry out FHA and other business. Sec. 232. Eligible single-family mortgages. Sec. 233. Risk-sharing. Sec. 234. Limitation on mortgage insurance coverage. Sec. 235. Premiums. Sec. 236. Default and foreclosure statement. Sec. 237. Occupancy and rent limitations for multifamily mortgage insurance.
Sec. 238. Effective date. Subtitle C—Financial safety and soundness Sec. 251. Authority of Director. Sec. 252. Budgets and business plans. Sec. 253. Annual business plan; use of GAAP. Sec. 254. Examinations, reports, and cost estimates. Sec. 255. Reimbursement of costs. Sec. 256. Mutual Mortgage Insurance Fund capital reserve. Sec. 257. Capital classifications and performance measures for Mutual Mortgage Insurance Fund. Sec. 258. Enforcement. Sec. 259. Capital reserve requirements for other funds.
Sec. 260. Authority to establish temporary capital ratios in cases of nationwide countercyclical market adjustment. Sec. 261. 7-year borrower suspension for foreclosure. Sec. 262. Borrower ineligibility upon second foreclosure. Sec. 263. Limitation on seller concessions. Sec. 264. Lender repurchase requirement. Sec. 265. Indemnification by mortgagees. Sec. 266. Prohibitions relating to use of power of eminent domain. Sec. 267. Residual income requirement. Sec. 268. Effective date.
Subtitle D—Transition Sec. 281. Transition period. Sec. 282. Authority during transition period. Sec. 283. Advisory Board. Sec. 284. Transfer of HUD authority. Sec. 285. Wind-up of HUD affairs. Sec. 286. Continuation and coordination of certain actions. Sec. 287. Transfer and rights of HUD employees. Sec. 288. Transfer of property and facilities. Sec. 289. Effective date. Subtitle E—Related amendments and provisions Sec. 291. GNMA authority. Sec. 292. Repeal of certain FHA programs.
Sec. 293. Conforming amendments. Sec. 294. Rule of construction. Sec. 295. Effective date. Title III—Building a New Market Structure Subtitle A—National Mortgage Market Utility Sec. 301. Short title. Sec. 302. Findings and purposes. Sec. 303. Definitions. Part 1—Establishment and authority of the Utility Sec. 311. Establishment. Sec. 312. General powers; authorized and prohibited activities. Sec. 313. Transfer of ownership of Platform. Sec. 314. Funding. Sec. 315. Regulation, supervision, and enforcement.
Sec. 316. Civil and criminal liability. Part 2—Standards for qualified securities Sec. 321. Qualified securities. Sec. 322. Standards for qualified securities. Sec. 323. Liability for misleading statements. Sec. 324. Unlawful representations. Sec. 325. Contrary stipulations void. Part 3—National Mortgage Data Repository Sec. 331. Organization and operation. Sec. 332. Legal effect of registration with Repository. Sec. 333. Grants to States; repayment. Sec. 334. Judicial review.
Sec. 335. Transition provisions. Part 4—Conforming amendments Sec. 341. Conforming amendment to Federal Home Loan Bank Act. Sec. 342. Conforming amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Sec. 343. Conforming amendments to Securities Act of 1933. Sec. 344. Conforming amendments to title 18, United States Code. Subtitle B—Covered Bonds Sec. 351. Short title. Sec. 352. Definitions. Sec. 353. Regulatory oversight of covered bond programs established.
Sec. 354. Resolution upon default or insolvency. Sec. 355. Securities law provisions. Sec. 356. Miscellaneous provisions. Title IV—Removing Barriers to New Investment Sec. 401. Basel III impact study. Sec. 402. Basel III Liquidity Coverage Ratio amendments. Sec. 403. Definition of points and fees. Sec. 404. Exclusion of issuers of asset-backed securities from covered funds. Sec. 405. Suspension of regulation AB II rulemaking. Sec. 406. Effective date of certain mortgage reform regulations.
Sec. 407. Repeal of credit risk retention regulations. Sec. 408. Mortgages in qualified securities. Sec. 409. Mortgage loans held in portfolio. Sec. 410. Repeal of certain mortgage-related provisions. Sec. 411. Amendments to the Truth in Lending Act. Sec. 412. Financial Institutions Examination Fairness and Reform. Sec. 413. Notice of junior mortgage or lien. Sec. 414. Limitation on mortgages held by loan servicers. Title V—Miscellaneous Provisions Sec. 501. Preserving access to manufactured housing.
Sec. 502. Common sense economic recovery. Sec. 503. Technical Amendments to Federal Home Loan Bank Act. Sec. 504. Preservation of attorney-client privilege for information provided to FHFA. Sec. 505. FHFA Liaison Membership in Federal Financial Institutions Examination Council. Sec. 506. Recognition of FHFA enforcement authority with regard to regulated entities. Sec. 507. Exception from Right to Financial Privacy Act for FHFA as conservator or receiver. Sec. 508. Technical amendment to Federal Housing Enterprises Financial Safety and Soundness Act of 1992.
Sec. 509. Application of presumption to enterprise streamlined refinancings. Sec. 510. FHFA authority to regulate and examine contractual counterparties. Sec. 511. Election of directors of a merged Federal Home Loan Bank.
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