Residential Homebuilders and Small Business Credit Availability Act of 1992

Residential Homebuilders and Small Business Credit Availability Act of 1992 - Declares that it is the purpose of this Act to: (1) establish a corporation to purchase or guarantee loans and facilitate their packaging into pools for sale to institutional investors; (2) authorize the certification of loan poolers by the corporation; (3) provide for a secondary marketing arrangement for small business loans that meet the corporation's underwriting standards; and (4) enhance the ability of residential homebuilders and other small businesses to obtain financing by improving the distribution of mortgage financing and acquisition and development financing.

Establishes the Venture Enhancement and Loan Development Administration for Smaller Undercapitalized Enterprises (Velda Sue) as a Federal instrumentality.

Provides for a Board of Directors to manage Velda Sue. Limits the amount of Velda Sue obligations and guarantees which may be outstanding at any one time. Precludes the Secretary of the Treasury (the Secretary) from approving any such obligations or guarantees if issuance would impair the financial safety or soundness of the Corporation.

Directs Velda Sue to issue certification and eligibility standards for secondary marketing for loan poolers. Limits certification to a five-year maximum period. Prescribes the percentages of obligations of poolers which Velda Sue shall guarantee. Directs the Board of Directors to establish standards governing the composition of each loan pool during the period in which Corporation guarantees are effective. Outlines the minimum standards for qualified loan pools.

Directs Velda Sue to establish fees based upon the risk incurred in providing financial assistance or guarantees for: (1) qualified loans; and (2) securities issued by a qualified loan pooler. Prescribes maximum fee guidelines.

Directs the Comptroller General to report annually to the Congress regarding Velda Sue's fee schedule and collection.

Grants the Secretary general regulatory power over Velda Sue activities. Requires Velda Sue to publish annual financial status reports as prescribed by the Secretary.

Declares that for purposes of the Securities Act of 1933, neither securities nor guarantees issued by Velda Sue shall be deemed to be a security issued by an agent of the Federal Government or a "government security." Authorizes Velda Sue to issue obligations to the Secretary solely for the purpose of fulfilling its obligations.

Confers original jurisdiction upon the Federal district courts for all civil actions to which Velda Sue is a party. Authorizes depository institutions to make capital contributions to, and receive and dispose of stock from, Velda Sue. Directs the Comptroller General to perform a financial audit of Velda Sue.

Authorizes appropriations. Requires Velda Sue to reimburse the United States for amounts appropriated, plus interest, within five years of this Act's enactment date.