To establish the Federal Housing Corporation to provide mortgage credit to families, communities, and markets underserved by the conventional mortgage markets and ensure the stability of the national system for mortgage finance, and for other purposes.
TABLE OF CONTENTS:
Title I: Organization of Corporation
Title II: Business of Corporation
Title III: Transition
Title IV: Provisions Relating to Government National
Mortgage Association and Office of Federal Housing
Enterprise Oversight
Federal Housing Corporation Charter Act - Title I: Organization of Corporation - Establishes within the Department of Housing and Urban Development the Federal Housing Corporation.
Title II: Business of the Corporation - States that the Corporation shall carry out mortgage insurance programs for single family and multifamily housing and health care facilities.
Requires the Corporation to comply with public purpose requirements to be established by the Secretary of Housing and Urban Development, which shall include service to underserved homebuyers, areas, and rental markets, and low- and moderate-income families.
Title III: Transition - Sets forth transition provisions.
Title IV: Provisions Relating to Government National Mortgage Association and Office of Federal Housing Enterprise Oversight - Amends the National Housing Act to include the Corporation within the mortgage authority of the Government National Mortgage Association.
Places the Corporation under the regulatory authority of the Director of the Office of Federal Housing Enterprise Oversight.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Housing and Community Opportunity.
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
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