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Code · BILL · 113th Congress · S. 1376 (Reported in Senate) — To improve the Federal Housing Administration and to ensure the solvency of the Mutual Mortgage Insurance Fund, and f... · Sec. 11

Sec. 11. Congressional notification of use of certain authorities with respect to the FHA

306 words·~1 min read·/bill/113/s/1376/rs/section-11

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The Secretary of the Treasury shall provide written notice to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives within 48 hours of the exercise of any authority granted under section 504(f) of the Federal Credit Reform Act of 1990 (2 U.S.C. 661c(f)) to carry out any transaction to fund any account established for the benefit of the Department of Housing and Development, the Federal Housing Administration, or the Mutual Mortgage Insurance Fund established under section 202 of the National Housing Act ( 12 U.S.C. 1708 ).
The Secretary of Housing and Urban Development shall provide written notice to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives within 48 hours of the receipt of any amounts described under subsection (a). The Secretary of Housing and Urban Development shall include, in any report required by law to be submitted to Congress, including any annual, quarterly, actuarial, or other report required to be submitted to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representative, the dollar amount of any amounts owed by the Secretary of Housing and Urban Development to the Treasury as a result of the exercise of any authority granted under section 504(f) of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661c(f) ).
As soon as is practicable, the notice required by subsection
(a)shall be made available to the public and posted on the website of the Department of the Treasury. As soon as is practicable, the notice required by subsection
(b)shall be made available to the public and posted on the website of the Department of Housing and Urban Development.
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Sec. 11
Congressional notification of use of certain authorities with respect to the FHA
U.S.C.§ 661c
U.S.C.§ 1708
Cites 2Cited by 0 across 0 sources
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