Sec. 1. Short title; table of contents
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This Act may be cited as the . Housing Finance Reform and Taxpayer Protection Act of 2013 The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Definitions. TITLE I—Federal Mortgage Insurance Corporation Sec. 101. Establishment. Sec. 102. Director. Sec. 103. Board of Directors. Sec. 104. Office of the Inspector General. Sec. 105. Staff, experts, and consultants. Sec. 106. Reports; testimony; audits. Sec. 107. Initial funding. TITLE II—Duties, Responsibilities, and Structure of the FMIC Subtitle A—Duties and Authorities Sec. 201.
Duties and responsibilities of the FMIC. Sec. 202. Standard form credit risk-sharing mechanisms, products, structures, contracts, or other security agreements. Sec. 203. Mortgage Insurance Fund. Sec. 204. Insurance. Sec. 205. Authority to protect taxpayers in unusual and exigent market conditions. Sec. 206. General powers. Sec. 207. Exemptions. Subtitle B—Oversight of market participants Sec. 211. Approval of private mortgage insurers. Sec. 212. Approval of servicers. Sec. 213.
Approval of issuers. Sec. 214. Approval of bond guarantors. Sec. 215. Authority to establish FMIC Mutual Securitization Company. Sec. 216. Additional authority relating to oversight of market participants. Sec. 217. Civil money penalties. Sec. 218. Protection of privilege and other matters relating to disclosures by market participants. Subtitle C—Transparency in market operations Sec. 221. Review of loan documents; disclosures. Sec. 222. Investor immunity. Sec. 223. Uniform securitization agreements.
Sec. 224. Uniform mortgage database. Sec. 225. Electronic registration of eligible mortgages. Subtitle D—FMIC Structure Sec. 231. Office of Underwriting. Sec. 232. Office of Securitization. Sec. 233. Office of Federal Home Loan Bank Supervision. TITLE III—Transfer of powers, personnel, and property to FMIC from FHFA Sec. 301. Powers and duties transferred. Sec. 302. Transfer and rights of employees of the FHFA. Sec. 303. Abolishment of FHFA. Sec. 304. Transfer of property and facilities.
Sec. 305. Technical and conforming amendments. TITLE IV—Improving transparency, accountability, and efficacy within affordable housing Sec. 401. Affordable housing allocations. Sec. 402. Housing Trust Fund. Sec. 403. Capital Magnet Fund. Sec. 404. Additional taxpayer protections. TITLE V—Wind Down of Fannie Mae and Freddie Mac Sec. 501. Repeal of GSE charters. Sec. 502. Wind down. Sec. 503. Aligning purpose of conservatorship with FMIC. Sec. 504. Conforming loan limits. Sec. 505.
Portfolio reduction. Sec. 506. Repeal of mandatory housing goals. TITLE VI—Improvements to functioning of housing market Sec. 601. Continuation of multifamily business of the enterprises. Sec. 602. Multiple lender issues. Sec. 603. GAO report on full privatization of secondary mortgage market. TITLE VII—General provisions Sec. 701. Authority to issue regulations. Sec. 702. Fair value accounting. Sec. 703. Rule of construction. Sec. 704. Severability.