A bill to amend section 1956 of title 18, United States Code to include equity skimming as a predicate offense, to amend section 1516 of title 18, United States Code to curtail delays in the performance of audits, and for other purposes.

Amends the Federal criminal code to include: (1) as a money laundering offense equity skimming; and (2) within provisions pertaining to obstruction of a Federal audit, attempts to influence, obstruct, or impede a Federal auditor in the performance of official duties relating to any property that is security for a mortgage note that is insured, guaranteed, acquired, or held by the Secretary of Housing and Urban Development pursuant to specified provisions of the National Housing Act.

Amends the National Housing Act to require each contract for mortgage insurance to authorize the Secretary to recover from an owner, agent, manager, or other person (owner) who is otherwise in custody, control, or possession of property that is security for a mortgage note insured, acquired, or held by the Secretary pursuant to specified provisions and who is convicted of equity skimming, an amount equal to the sum of any benefit of insurance conferred on the mortgagee by the Secretary with respect to such property and any other losses incurred by the Secretary in connection with such property, to the extent that such benefit was conferred or such loss was incurred as a result of the violation.