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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. 231

Sec. 231. Authority to carry out FHA and other business

307 words·~1 min read·/bill/113/hr/2767/ih/section-231

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After the expiration of the transition period under section 281— the FHA may exercise (in addition to powers set forth in section 282) any authority and undertake any responsibilities of the Secretary of Housing and Urban Development under the National Housing Act (as amended by this title) relating to mortgage insurance, except as otherwise provided in this title and except that any authority that requires an appropriation may be conducted only to the extent that amounts are so appropriated; any amounts in the Mutual Mortgage Insurance Fund under section 202(a) of the National Housing Act (12 U.S.C. 1708(a)) , any amounts in the General Insurance Fund and Special Risk Insurance Fund under sections 519 and 238(b), respectively, of such Act (12 U.S.C. 1735c, 1715z–3(b)), and any amounts in the Cooperative Management Housing Insurance Fund under section 213(k) of such Act ( 12 U.S.C. 1715e(k) ), shall be used by the FHA only— for meeting any obligations of such Funds entered into before such transition date; and for carrying out the mortgage insurance obligations of the FHA pursuant to section 282(1) of this title and paragraph
(1)of this section; and the FHA may exercise any authority of the FHA under this title. After the expiration of the transition period under section 281, the Secretary may not exercise any authority under the National Housing Act relating to mortgage insurance. This subsection may not be construed to limit or otherwise affect the Secretary’s authority under title I of the National Housing Act (12 U.S.C. 1702 et seq.). This section and section 282(1) may not be construed to affect the validity of any right, duty, or obligation of the United States or other person arising under or pursuant to any commitment or agreement lawfully entered into with the Secretary of Housing and Urban Development under the National Housing Act .
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Sec. 231
Authority to carry out FHA and other business
U.S.C.§ 1708
U.S.C.§ 1735c
U.S.C.§ 1715e
U.S.C.§ 1702
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