A bill relating to the mortgage insurance premiums applicable to home mortgages insured by the Secretary of Housing and Urban Development, and requiring certain reports to the Congress by the Secretary with respect to the funds used by the Secretary in carrying out the various home mortgage insurance programs. and the premium levels necessary to sustain such funds.

Provides that specified insurance premiums for any mortgage insured by the Secretary of Housing and Urban Development shall not exceed one-fourth of one percent per annum of the amount of the principal obligation outstanding.

Directs the Secretary to report to the Congress his recommendations on transferring reserves of the Mutual Mortgage Insurance Fund to the General Insurance Fund and the Special Risk Insurance Fund. Specifies additional recommendations to be included in such report.