To provide for increased safety and soundness of federally insured housing mortgage lending operations.
Federal Housing Administration Safety and Soundness Act of 1989 - Amends the Department of Housing and Urban Development Act to establish within the Department of Housing and Urban Development: (1) a division of Mortgage Supervision within the Federal Housing Administration; and (2) a Director of Mortgagee Supervision.
Amends the National Housing Act with regard to: (1) minimum mortgagor payments; and (2) limitations on principal mortgage obligations.
Became Public Law No: 101-235.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
See H.R.1.
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