Housing and Community Development Amendments of 1982

Housing and Community Development Amendments of 1982 - Title I: Community and Neighborhood Development - Amends the Housing and Community Development Act of 1974 to authorize the Secretary of Housing and Urban Development (the Secretary) to: (1) make rental rehabilitation grants to State and local governments for the rehabilitation of privately owned property for residential rental purposes; (2) make available contract authority for assistance payments for very low income tenants and other lower income tenants of units in structures rehabilitated or, to the extent of any remaining authority, constructed with grants under this title; and (3) make rental construction grants to State and local governments to support construction of privately owned real property for residential use. Provides funds for such grants for FY 1983 with specified amounts earmarked for: (1) innovative programs; and (2) technical assistance for rehabilitation activities.

Sets forth guidelines for the allocation of such grants and contract authority among cities with populations of 100,000 or more, urban counties, and States. Requires applications for such assistance to include: (1) an analysis of the financial feasibility of the rehabilitation or construction program, including information on the availability of non-Federal resources; (2) an estimate of the effect of the program on neighborhood preservation; and (3) a certification that the applicant will comply with nondiscrimination requirements.

Permits the Secretary to make construction grants only upon finding that: (1) the area is experiencing a severe rental housing shortage; (2) the area has extremely low vacancy rates; and (3) a program of other than rehabilitation is necessary to improve rental opportunities or advance a neighborhood preservation program. Declares that the Secretary is not required to allocate more contract authority than is necessary for assistance payments for rehabilitated units.

Requires contribution contracts with respect to rental assistance payments to require the appropriate public housing agency to make such assistance payments available to all very low income tenants of rehabilitated units.

Requires grantees to submit performance reports concerning the use of assistance provided under this title. Directs the Secretary to conduct annual audits and reviews of the performance of grantees. Permits the Secretary to adjust the amount of assistance provided to a grantee as a result of his or her findings. Prohibits any adjustments to recapture assistance already expended.

Lists requirements for rental rehabilitation programs assisted under this title. Restricts the use of rehabilitation grants to structures that are to be used primarily for rental residential purposes in low- and moderate-income areas. Limits the amount of rehabilitation assistance for a structure to 50 percent of the total rehabilitation costs of that structure or, under special circumstances, 50 percent of the development costs. Requires a borrower under such a program to be personally liable for repayment of any financing upon default.

Limits the amount of a construction grant to the total amount of assistance allocated to a grantee under this title. Requires that such grant be used to provide decent rental or cooperative housing of modest design which is affordable, with rental assistance payments, for families without other housing alternatives. Requires the owner of any project assisted under such a construction grant to agree that for the first ten years of the project: (1) 25 percent of the units constructed shall be available for occupancy by very low income families; (2) savings resulting from reduced debt service payments or construction costs will be passed on to tenants; (3) prospective tenants will not be rejected because they receive Federal rent subsidies; and (4) units will not be converted to condominium ownership or cooperative ownership unaffordable to very low income families. Requires such projects to contain five or more dwelling units and to be used primarily for residential purposes. Declares that the mortgage of such a project may be insured under the National Housing Act. Requires rents for project units to be approved by the grantee. Requires 30 days written notice of rent increases to tenants.

Prohibits a State or local government from imposing rental requirements on projects assisted by rehabilitation or construction grants under this title.

Requires a State to administer assistance made available to cities with populations of less than 100,000 or cities and urban counties requiring a level of assistance which the Secretary determines to be insufficient for conducting an independent rehabilitation or construction program. Permits the State to: (1) use such assistance to conduct its own programs; (2) distribute such assistance to local governments; or (3) elect to have the Secretary administer such assistance.

Directs the Secretary to establish: (1) relocation payment standards; and (2) specified procedures governing rehabilitation involving historic structures.

Exempts the awarding and use of assistance under this title from the National Environmental Policy Act of 1969 and related provisions.

Increases the amount of appropriations authorized for Federal grants to State and local governments and Indian tribes under the Housing and Community Development Act of 1974.

Limits the amount of obligations issued by a local government to finance the purchase or rehabilitation of property that the Secretary may guarantee in FY 1983.

Amends the National Housing Act to declare that coinsurance of a mortgage executed to refinance a housing project eligible for a rehabilitation grant may provide that: (1) insurance benefits shall equal 90 percent of the mortgage on the foreclosure date plus 90 percent of interest arrears on the date benefits are paid; (2) the mortgagee shall remit to the Secretary 90 percent of the net proceeds of the property; (3) benefits shall be paid in cash unless the mortgagee requests debentures; and (4) the underwriter may reinsure ten percent of the mortgage amount with a private or State insurance agency. Prohibits the Secretary from issuing any commitment for coinsurance for such property after October 1, 1985. Allows the Secretary, when insuring a mortgage executed to refinance such a project, to: (1) include rehabilitation costs of up to $20,000 per unit, with up to 25 percent more for specific properties; (2) permit subordinated liens securing up to the full amount of mortgage financing provided by State or local governments; and (3) pay insurance benefits in cash unless the mortgagee requests debentures.

Reduces the amount of appropriations authorized for the urban homesteading program for FY 1983. Authorizes appropriations for such program for FY 1984.

Provides for the payment of consideration by a State or local government to the Secretary and by an individual or family to such government for real property transferred under an urban homesteading program. Requires such a government to remit to the Secretary 50 percent of any amount by which the consideration it receives for such property exceeds the consideration it paid for such property.

Directs the Secretary to undertake a program to: (1) demonstrate the feasibility of using homesteading techniques to facilitate the reuse of multifamily properties owned by the Secretary for home ownership purposes; (2) convey suitable properties to State and local governments for subsequent transfer to individuals under a cooperative or condominium form of ownership; and (3) undertake a program to demonstrate the feasibility of providing assistance based on a rental assistance payment standard to assist lower income families in rehabilitating such property.

Amends the Housing Act of 1964 to repeal provisions authorizing the Secretary to make rehabilitation loans.

Amends the Housing and Urban Development Act of 1969 to repeal provisions authorizing the General Services Administration to transfer Federal surplus real property to the Secretary or the Secretary of Agriculture for sale or lease at fair value for use for low- and moderate-income housing. Permits the transfer of property requested before enactment of this Act.

Amends the Housing Act of 1949 to repeal provisions that prohibit an urban renewal plan from providing for the construction of transient housing, unless the community involved has obtained a transient housing study indicating a need for such housing.

Amends the Housing and Urban Development Act of 1965 and the Housing Act of 1961 to repeal provisions requiring the Secretary's approval of the conversion of neighborhood facilities or open space land to uses not originally approved by the Secretary when awarding a grant for acquisitions of such facilities or land.

Title II: Housing Assistance Program - Amends the Housing and Community Development Act of 1974 to direct the Secretary of Housing and Urban Development (the Secretary) to issue a regulation prescribing a formula governing the allocation of housing assistance for elderly, handicapped, and lower income families among the different States, areas, and communities. Changes the amount of such assistance required to be set aside for rural housing in a fiscal year from between 20 and 25 percent of the total assistance available to an amount necessary to provide rental assistance payments for up to 10,000 dwelling units.

Amends the United States Housing Act of 1937 to limit the contract and budget authority of the Secretary for FY 1983 with respect to contribution contracts for public housing projects.

Declares that such contribution contracts may provide for assistance payments to owners of lower income housing projects based on: (1) the maximum monthly rent such owner is entitled to receive for each unit (as currently required) or; (2) a payment standard used to determine the maximum monthly assistance payable for any family with respect to an existing unit selected by the family.

Requires the Secretary to promulgate a regulation establishing a formula for determining fair market rentals in connection with contribution contracts based on maximum monthly rent. Requires only the owners of newly constructed or substantially rehabilitated units assisted under such a contract (currently owners of all assisted units) to provide tenants 90 days prior notice of any rent increase to take effect when the contract expires. Requires that owners of existing units assisted under such a contract give preference in selecting tenants to families paying more than 50 percent of their incomes as rent.

Requires the Secretary to establish and publish in the Federal Register payment standards for various types of dwelling units in the market area (excluding units not meeting quality standards) at levels designed to assist families in securing decent, safe, and sanitary housing. Limits the monthly assistance payment based on a payment standard to the amount by which the payment standard exceeds 30 percent of the family monthly adjusted income at the time the family first receives such assistance, provided that such monthly assistance payment is not greater than the amount by which the monthly rent for the unit exceeds the greater of: (1) ten percent of the family's monthly income; or (2) the part of any welfare payment designated for the family's housing costs. Restricts such assistance payments to very low-income families and families previously assisted under the Housing Act of 1937, with preference given to families which: (1) occupy substandard housing; (2) are involuntarily displaced; or (3) pay more than 50 percent of their income for rent. Permits the Secretary to disregard such preference and provide assistance to: (1) eligible families occupying units in formerly assisted projects acquired by the Secretary; or (2) families in units to be rehabilitated.

Terminates such assistance based on a payment standard with respect to any vacant unit. Limits the duration of such assistance payments to five years. Requires the public housing agency to inspect the assisted unit at least annually to determine that it meets housing quality standards. Permits a public housing agency to adjust the amount of such assistance payments (with specified restrictions) two times during any five- year period, when necessary to assure continued affordability.

Provides for low-income housing assistance based on a payment standard for families renting manufactured homes or spaces.

Exempts from congressional review and veto procedures regulations establishing amounts for fair market rentals or payment standards.

Allows the Secretary to establish income ceilings higher or lower than 50 percent of the area median income when defining "very low-income families" for purposes of the low-income housing assistance programs, if such variations are necessary because of unusually high or low family incomes. Requires the Secretary to exclude medical expenses exceeding three percent of annual income when determining an elderly family's adjusted gross income for purposes of such programs. Directs the Secretary to identify the portion (not to exceed 30 percent) of a family's welfare assistance payments which shall be applied toward the minimum rent for a unit assisted under such a housing program whenever no part of such payments is designated by the State for housing costs.

Authorizes the Secretary to provide for delayed applicability or staged implementation of specified procedures for determining rents or rent increases for low-income housing projects under this Act and the Housing and Community Development Amendments of 1981 with respect to tenants occupying units in assisted projects as of the effective date of regulations implementing the payment standard provisions of this Act. Directs the Secretary to provide that the rent for any tenant of an assisted project shall not increase by more than ten percent during any 12-month period as a result of such procedures or any other provision of federal law or regulation, unless the greater increase is attributable to an unrelated change in the tenant's income.

Authorizes appropriations for FY 1983 through 1985 for annual contributions to public housing agencies for the operation of lower income housing projects, with a specified amount earmarked for management improvement assistance for substandard agencies. Directs the Secretary to prescribe a regulation containing a formula for allocating such contributions. Prohibits any change of the formula or standards for allocating contributions with respect to any agency until the close of the contributions contract covering such agency. Prohibits any reduction in operating payments to an agency: (1) to reflect savings in operation costs, unless the allowable reserve would otherwise exceed 50 percent of the agency's operating budget; or (2) as a result of a lack of funds, unless payments to all agencies are ratably reduced.

Authorizes the Secretary to enter into two types of annual contribution contracts for operating assistance to public housing agencies. Provides for a three-year contract permitting agencies, with a satisfactory management capability or history, maximum flexibility to establish and implement management, financial, and operating procedures for their housing projects. Requires such agencies to submit annually such information as the Secretary requires to assure compliance with requirements governing the operation and maintenance of lower income housing projects. Provides for a one-year contract authorizing the Secretary's direct involvement in the management and operation of projects by agencies with an unsatisfactory management capability or history. Permits such a contract to provide for assistance in amounts 15 percent above or below an agency's allocation in order to encourage such agency to achieve management improvements or to meet extraordinary needs of the agency to improve the agency's management capability to a satisfactory level.

Authorizes the Secretary to approve an application by a public housing agency for assistance for: (1) demolition of a public housing project or a portion of such project if the project is unusable for housing and there is no feasible program to return the project to useful life; or (2) disposal of assisted housing if its retention is not in the best interests of the tenants or the public housing agency and if the net proceeds from such disposal shall be used to retire outstanding debt for the project and for the acquisition, rehabilitation, or operation of other lower income housing projects. Permits the Secretary to provide such assistance only after determining that families to be displaced by the demolition or disposal: (1) have been consulted by the public housing agency about such demolition or disposal; and (2) will be provided rental assistance or replacement housing in a low income housing project.

Amends the Omnibus Budget Reconciliation Act of 1981 to prohibit the Secretary from entering contracts for periodic payments to offset the costs to the Federal Financing Bank of purchasing obligations issued by local public housing agencies to finance public housing projects.

Amends the Housing and Community Development Amendments of 1978 to require that a rental or cooperative housing project be covered by a federally-insured mortgage to be eligible for operating assistance for troubled multifamily projects. Amends the National Housing Act to extend through September 30, 1984, the period during which amounts in the rental housing assistance fund may be approved for such operating assistance.

Amends the Housing Act of 1959 to set the interest rate on loans made by the Secretary for the provision of rental or cooperative housing and related facilities for the elderly and handicapped at the lower of nine percent per year or the average rate on Federal obligations as of the end of the previous fiscal year. Eliminates the requirement that a nonprofit corporation, to be eligible for such loans, have on its governing body members selected to represent the views of the community where such housing would be located. Directs the Secretary: (1) when selecting projects for loans, to assure the inclusion of special design features and congregate space necessary for elderly and handicapped residents; and (2) to encourage the provision of small and scattered site group homes and independent living facilities for nonelderly handicapped persons and families. Permits a project sponsor to: (1) provide funds from other sources for amenities if the cost of such amenities is not federally financed or subsidized; and (2) select the contractors to design, develop, or construct the project on a competitive or negotiated basis unless the Secretary disapproves the selection. Increases the borrowing authority of the Secretary for FY 1982 and 1983 for purposes of providing such loans. Limits the lending authority of the Secretary and the number of units which may be approved for construction or rehabilitation in FY 1983.

Amends the Congregate Housing Services Act of 1978 to authorize appropriations for congregate services programs for FY 1983 through 1985.

Amends the United States Housing Act of 1937 to repeal references to Federal assistance for the construction or rehabilitation of lower income housing projects, except as applicable for projects for the elderly or handicapped. Requires tenants in units of federally assisted projects which are individually metered to pay to the public housing agency their utility costs exceeding their utility allowances.

Amends the Social Security Act to repeal a provision allowing States to consider rent and housing subsidies as family income in determining that family's need for aid to families with dependent children.

Title III: Program Amendments and Extensions - Amends the National Housing Act to extend for two years the authority of the Secretary of Housing and Urban Development (the Secretary) to insure housing loans and mortgages under specified insurance programs contained in such Act.

Prohibits the Secretary from issuing a firm commitment to provide mortgage assistance payments for lower income families after September 30, 1982.

Authorizes the appropriation of such funds as may be necessary to cover losses sustained by the General Insurance Fund. Amends the Housing and Urban Development Act of 1970 to authorize appropriations for research activities of the Department of Housing and Urban Development (HUD) for FY 1983.

Amends the National Housing Act to repeal the Secretary's authority to establish maximum interest rates on Federal Housing Administration (FHA) loans. Provides that housing mortgages or loans insured under programs that are extended beyond FY 1982, with specified exceptions, shall bear interest at such rate as may be agreed upon by the borrower and the lender. (Currently, the Secretary sets or approves such interest rates within prescribed limits.) Continues the authority of the Secretary to set the maximum interest rate for insured mortgages of mortgagors receiving home ownership assistance payments.

Authorizes the Secretary to agree to an extension of the term of an insured mortgage on property or land to be improved or developed, upon determining that unusual circumstances make such extension necessary to avoid undue hardship to the mortgagor.

Authorizes the Secretary to limit: (1) the amount of discount points payable in connection with loans and mortgages insured under such Act; and (2) the maximum interest rates on loans or mortgages insured under a particular program or on particular types of mortgages. Exempts regulations prescribing such maximum interest rates from congressional veto procedures.

Permits maximum mortgage amounts eligible for FHA insurance to be increased by the mortgage insurance premium paid at the time a mortgage is insured. Excludes such premium from the mortgage down payment required for such insurance.

Increases the amount of the principal obligation of a mortgage executed by a non-occupant mortgagor which is eligible for FHA insurance.

Declares that premium charges for FHA insurance of mortgages with alternative financing mechanisms are not required to be the same as premium charges for other FHA mortgages.

Limits the amount of mortgage-backed securities the Government National Mortgage Association may enter into commitments to guarantee and the amount of loans and mortgages the Secretary may enter commitments to insure during FY 1983.

Makes it discretionary (rather than mandatory) for the Secretary to regulate the rents and rate of return on HUD-insured housing projects and to provide such insurance primarily to projects providing for families with children.

Permits the Secretary to insure mortgages of manufactured home parks designed exclusively for the elderly.

Eliminates special limitations on the amount of a mortgage involving refinancing for rehabilitation purposes which qualifies for FHA insurance.

Increases and standardizes the mortgage amounts eligible for FHA insurance for certain rental housing projects regulated under Federal or State law as to rent or method of operation. Provides higher mortgage limits for such projects: (1) which receive assistance under the Rental Rehabilitation Program; (2) in which 20 percent of the units are available for occupancy for at least ten years by families whose incomes do not exceed 80 percent of the area median income; or (3) which are subject to mortgages which are coinsured with private lenders.

Authorizes the Secretary to direct mortgagees exercising their option to assign certain insured mortgages to the Secretary, to deliver the mortgages and original credit installments directly to the Government National Mortgage Association in lieu of the Secretary. Authorizes the Association to hold and service such loans as agent for the Secretary. Eliminates the option of mortgagees to assign such insured mortgages to the Secretary with respect to a commitment to insure entered into on or after the effective date of this Act.

Eliminates the conditions that a mortgagor shall acquire a condominium for his or her use and occupancy, a mortgagor shall not own more than four insured condominiums, and a condominium shall meet one of the following requirements in order for the condominium mortgage to qualify for FHA insurance: (1) the project containing the mortgage is or has been Federally insured; (2) there are less than 12 units in the project; or (3) if the project has more than 11 units, it is more than one year old. Revises provisions governing the maximum amount of a condominium mortgage that is eligible for insurance. Prohibits FHA insurance for units in a project which was converted from rental housing, unless: (1) the conversion occurred more than one year prior to the application for insurance; (2) the mortgagor was a tenant of that rental housing; or (3) the conversion is sponsored by a tenant's organization representing a majority of households in the project.

Authorizes the Secretary to insure the mortgage of a unit in a cooperative housing project not covered by an insured blanket mortgage if the Secretary has examined and not disapproved the underlying mortgage and if construction of the project was completed more than one year before application for insurance. Eliminates the insurance eligibility requirement that a cooperative be nonprofit.

Repeals provisions limiting the amount of loans and mortgages the Secretary may insure on a coinsurance basis to twenty percent of the amount of all mortgages and loans insured by the Secretary.

Extends for two years the Secretary's authority to insure graduated payment mortgages. Eliminates the requirements that a mortgagor must be unable to afford a dwelling under any other mortgage insurance program and must not have owned a dwelling within the previous three years in order to qualify for graduated payment mortgage insurance. Deletes restrictions on the number of graduated payment mortgages which may be insured during a year. Provides authority for the Secretary to insure graduated payment mortgages for housing projects consisting of five or more dwelling units.

Authorizes the Secretary to insure a limited number of adjustable rate mortgages for dwellings designed for occupancy by one to four families (single-family homes). Permits annual interest rate adjustments of not to exceed one percent through adjustments in the monthly payment, the mortgage term, or a combination of both. Prohibits: (1) extending the mortgage term beyond 40 years; or (2) increasing the interest rate by more than five percentage points over the mortgage term. Requires the Secretary to consult with the Comptroller of the Currency and the Federal Home Loan Bank Board to assure the consistency of Federal regulations governing adjustable rate mortgages. Directs the Secretary to require the mortgagee to provide information to the mortgagor describing the features and maximum possible payment schedule for an adjustable rate mortgage.

Authorizes the Secretary to insure a specified number of shared appreciation mortgages for single family homes (including cooperative units) and multifamily housing projects. Declares that the mortgagee's predetermined share of the property's net appreciation shall be payable upon the sale or transfer of the property or the payment in full of the mortgage, whichever occurs first, Excludes a mortgagee's share of the net appreciated value from the mortgagee's insurance benefits in the event of a default. Directs the Secretary to prescribe disclosure requirements applicable to such mortgages. Exempts such mortgages from State authority.

Requires that a shared appreciation mortgage for a single-family home: (1) bear interest at a rate which meets criteria prescribed by the Secretary; (2) amortize over not more than 30 years; and (3) have a term of between ten and 30 years. Directs the Secretary, in insuring such mortgages, to give a priority to low and moderate income tenants affected by the conversion of rental housing to condominium or cooperative ownership.

Requires that a shared appreciation mortgage for a multifamily housing project have a term of not less than 15 years and be repayable in monthly installments needed to retire the debt over 30 years. Directs the Secretary to establish the maximum percentage of a project's net appreciated value payable to such a mortgagee.

Authorizes the Secretary to insure certain housing loans which do not completely amortize over the loan term.

Authorizes the Secretary to make expenditures to correct or provide compensation for structural defects in an FHA-insured single family home for which a Veterans Administration loan guaranty was approved prior to construction.

Requires payment to the Government of mortgage insurance premiums promptly: (1) upon their receipt from the borrower with respect to mortgages on single-family homes; and (2) when due to the Secretary with respect to mortgages on multifamily housing projects.

Authorizes the Secretary to insure the mortgage of a single-family home that is located on an Indian reservation and purchased by a member of an Indian tribe for his or her principal place of residence, notwithstanding any other limitations of the National Housing Act.

Amends the Multifamily Mortgage Foreclosure Act of 1981 to repeal provisions authorizing or directing the Secretary to require the purchaser of a HUD-owned multifamily housing project at a foreclosure sale to continue to operate the project in accordance with the terms of the Act under which it was insured.

Authorizes the Secretary and the Secretary of Agriculture to require an applicant for financial assistance or mortgage or loan insurance under a housing program of the Department of Housing and Urban Development (HUD) or the Farmer's Home Administration (FHA), respectively, to: (1) include his or her social security number or employer identification number on designated forms; and (2) sign a form authorizing the Secretary to verify information furnished by the applicant and authorizing other agencies and private sources to release information relevant to the applicant's eligibility or benefit level such as data on wages, unemployment compensation, veterans benefits, and social security benefits. Entitles an applicant to examine and correct such information.

Requires State unemployment agencies, upon request, to release to HUD, the Department of Agriculture, and public housing agencies information concerning an individual's wages, unemployment compensation, and home address for purposes of determining that individual's eligibility for, or level of, benefits under a housing program. Directs either Secretary or a public housing agency to deny benefits to any applicant to, or participant in, a housing program who: (1) knowingly has submitted incorrect or misleading information or withheld relevant facts; or (2) violated an Act or regulation governing that program.

Amends the Housing and Community Development Act of 1980 to prohibit the Secretary from providing financial assistance to aliens through a specified housing insurance program for moderate income and displaced families.

Amends the Housing and Urban Development Act of 1968 to: (1) authorize appropriations for loans to nonprofit organizations or public housing agencies for expenses in planning and obtaining financing for the rehabilitation or construction of housing for low or moderate-income families under any federally assisted program, with specified limits on appropriations authorized for FY 1982 and 1983; and (2) repeal specified provisions authorizing housing counseling assistance for mortgagors.

Amends the Housing and Community Development Amendments of 1978 to authorize appropriations for the Neighborhood Reinvestment Corporation for FY 1983.

Amends the National Housing Act to revise the maximum mortgage amount for a manufactured home or manufactured home and lot that is eligible for FHA insurance to 80 and 90 percent, respectively, of the maximum eligible mortgage amount for housing in the same area. Increases to 30 years the maximum term of a manufactured home mortgage eligible for FHA insurance. Allows an existing manufactured home purchased with a loan not insured by HUD to be refinanced under such Act if it was constructed according to standards established under the National Manufactured Housing Construction and Safety Standards Act of 1974. Authorizes the Secretary to insure the mortgage of a manufactured home which satisfies such standards and which is affixed to a permanent foundation.

Amends the Federal National Mortgage Association Charter Act to make it discretionary (rather than mandatory) for the Federal National Mortgage Association (FNMA) to establish maximum mortgage amounts that it will purchase. Authorizes the FNMA to issue freely transferable preferred stock. Repeals provisions limiting: (1) the amount of subordinated obligations the FNMA may have outstanding; and (2) the term of loans made by FNMA on the security of mortgages. Authorizes the FNMA to purchase any mortgage held by the Federal Deposit Insurance Corporation (FDIC) or the Federal Savings and Loan Insurance Corporation (FSLIC).

Amends the Federal Home Loan Corporation Act to make it discretionary rather than mandatory for the Federal Home Loan Corporation (FHLC) to establish maximum mortgage amounts that it will purchase. Authorizes the FHLC to purchase any mortgage held by the FDIC or the FSLIC.

Amends the National Housing Act to direct the Secretary not to accept the offer of an owner of a federally-assisted multifamily housing project to prepay the project mortgage (thus becoming exempt from Federal program requirements) unless the Secretary has: (1) determined that the project no longer meets the rental housing needs of low-income people in the area or that other Federal assistance could meet those needs more effectively; (2) considered tenants' comments; and (3) ensured that there is a plan for providing relocation assistance to displaced tenants. Directs the Secretary to give a priority to providing specified low-income housing assistance to tenants of projects assisted under programs that give project owners the right to prepay, if the Secretary determines that providing such assistance is necessary to prevent such an owner from prepaying the mortgage. Requires owners receiving such assistance to maintain the low-income character of the project for at least the remaining term of the mortgage to the extent that assistance is provided.

Requires the Federal Home Loan Bank Board to include in its Mortgage Interest Rate Survey median loan and purchase price data for each State and the standard metropolitan statistical areas of each State.

Title IV: Alternative Mortgage Transactions - Alternative Mortgage Transaction Parity Act of 1982 - Authorizes all housing creditors to make, purchase, and enforce alternative mortgage transactions provided the transactions are authorized by, and in accordance with, regulations governing alternative mortgage transactions issued by: (1) the Comptroller of the Currency for national banks (with respect to banks); (2) the National Credit Union Administration Board for Federal credit unions (with respect to credit unions); or (3) the Federal Home Loan Bank Board for federally chartered savings and loan associations (with respect to all other housing creditors).

Defines an "alternative mortgage transaction" as a loan or credit sale which is secured by real property, a dwelling, all stock allocated to a cooperative unit, or a manufactured home and which involves other than a traditional fixed-rate, fixed-term transaction.

Allows housing creditors to make such transactions notwithstanding any State constitution, law, or regulation, unless the voters of a State approve a provision stating that such State does not want the provisions of this title to apply to transactions subject to laws of that State.

Title V: Rural Housing - National Rural Housing Act - Part A: Amendments to Title V of the Housing Act of 1949 - Amends the Housing Act of 1949 to revise the authority of the Secretary of Agriculture (the Secretary) to provide aid for rural housing through the Farmers Home Administration. Eliminates the Secretary's authority to provide grants or direct financial assistance other than loans or loan insurance under rural housing programs.

Eliminates provisions limiting the interest rate on and certain amounts of rural housing loans. Requires rural housing loans made by the Secretary to bear the rate of interest prevailing in the private market for similar loans. Prohibits the interest rate to be agreed upon between a borrower and a private lender for an insured loan from exceeding the market rate.

Repeals provisions which: (1) authorize loans for housing and buildings on potentially adequate farms on the same terms as loans may be authorized for adequate farms; (2) authorize the Secretary to cancel interest due on a loan in cases of extreme hardship; (3) authorize the Secretary to issue obligations for the purpose of making direct loans for farm housing; (4) authorize the Secretary to make and insure loans to enable consumer cooperatives to finance the transfer of memberships on terms that low- and moderate-income persons can afford; (5) permit the Secretary to cancel debts on loans to nonprofit groups for expenses such as planning and obtaining financing for the construction of low-income housing; (6) prohibit rent increases in certain rural housing projects in which tenant's are paying in excess of 25 percent of their incomes for rent; and (7) govern the application of rural housing programs for mobile homes.

Extends for one year the (Secretary's) authority to make or insure loans for housing or buildings on adequate farms.

Prohibits the Secretary, after enactment of this title, from entering into any contract to provide interest credits or rental assistance, except that any interest credit contract for single family or multifamily housing and any rental assistance contract for multifamily housing entered into before enactment of this title may be renewed. Requires that contracts for rental assistance or interest credit provide for tenants to contribute 30 percent of their income. Prohibits any increase of more than ten percent during any 12-month period in the rent or contribution of any tenant as a result of any provision of this title or other Federal law.

Authorizes rural housing loans for manufactured housing which: (1) meets standards under the Housing and Community Development Act; (2) is financed with a loan on terms which would apply under the National Housing Act; and (3) meets the Secretary's prescribed terms in case of manufactured housing not treated as real estate under State law.

Requires property standards for new construction of rural housing to be the same as the Minimum Property Standards prescribed by the Secretary.

Directs the Secretary: (1) to establish, from amounts made available to the Rural Housing Insurance Fund, a reserve against loan losses sustained by the fund; and (2) to report to Congress annually concerning the Fund.

Authorizes the Secretary to make and insure loans for condominium housing in rural areas. (Currently the Secretary is authorized, in his or her discretion, to make and insure such loans.)

Authorizes the Secretary to make and insure rural housing loans and renew rental assistance contracts in a specified aggregate amount during FY 1983. Authorizes appropriations for FY 1983 for: (1) payments on obligations issued by the Secretary under specified programs; (2) financial assistance to provide low-rent housing for domestic farm labor; and (3) lower income housing assistance under the National Housing Act and the United States Housing Act of 1937.

Extends for one year the authority of the Secretary to insure loans for rural housing for the elderly or handicapped.

Authorizes FY 1983 appropriations for the mutual and self-help housing program.

Part B: Rural Housing Block Grants - Rural Housing Block Grant Act of 1982 - Authorizes the Secretary to make block grants to States to promote the provision of safe and sanitary housing for residents of rural areas, particularly for those very low-income residents of areas having populations of 2,500 or less. Authorizes appropriations for such grants for FY 1983, 1984, and 1985.

Requires each grantee to prepare a statement of housing objectives and projected use of funds prior to receipt of a grant. Requires the statement to take into account the needs and conditions of existing housing for very low-income Indians living on trust lands.

Permits a grant to be made only if the grantee certifies that: (1) it has permitted the required public examination and appraisal of its statement; (2) the projected use of funds will improve housing conditions for the maximum feasible number of very low income families; and (3) the grant will be administered in conformity with applicable laws and this part.

Requires each grantee to submit to the Secretary a performance report concerning the use of the funds. Requires the Secretary, at least annually, to review and audit a grantee's activities. Permits the Secretary to adjust and reallocate the amount of grants based on his or her findings.

Permits the General Accounting Office to audit the financial transactions of recipients of funds under this part to the extent that the transactions relate to such funds.

Declares that the Secretary's allocation and a grantee's use of grant funds shall not be subject to the National Environmental Policy Act.

Provides that activities assisted under this part may include only: (1) rehabilitation of existing homes for occupancy by very low income residents; (2) the acquisition and rehabilitation of existing buildings for very low income housing; (3) financing the construction and purchase of modest homes for very low income persons; (4) provision of multifamily housing where there is a demonstrated need for very low income rental housing or farmworker housing; (5) provision of rental assistance for very low income persons not otherwise served by an existing rental assistance program; (6) the acquisition and development of real property for very low income housing; and (7) the disposition of real property.

Directs the Secretary to issue a regulation prescribing a formula for determining the grant amount to be allocated to each State based on the population and extent of poverty and substandard housing in each State compared to all States.

Requires a State to pay from its own resources: (1) at least ten percent of the amount of Federal funds allocated to such State for rural housing activities during any three-year funding cycle; and (2) all administrative expenses, which shall separately be appropriated for such purpose, incurred by the State in carrying out its responsibilities under this part (except that from the amounts received for distribution in rural areas, the State may deduct up to 50 percent of the costs it incurred in carrying out such responsibilities). Limits amounts so deducted to a maximum of five percent of the amount received.

Directs the Secretary to allocate a State's determined amount of funds to the Farmers Home Administration office for the State for distribution in accordance with this part where: (1) the State has elected, in such manner and before such time as the Secretary may prescribe, not to distribute such amounts; or (2) the State has failed to submit the required certifications.

Sets forth provisions prohibiting discrimination on the basis of race, color, national origin, or sex under any program funded by this part.

Directs the Secretary, upon finding that a recipient of assistance has failed to comply substantially with any provision of this part, to: (1) terminate, reduce, or limit the availability of payments. Permits a recipient to file a petition for review of the Secretary's action in the appropriate United States Court of Appeals. Authorizes the Secretary in lieu of, or in addition to, any action which the Secretary initiates, to refer the matter to the Attorney General with a recommendation that a civil action be instituted.

Directs the Secretary to report to Congress annually concerning this part.

Gives congressional consent to States to enter into agreements for cooperative efforts and mutual assistance in support of housing planning and programs carried out under this part as they pertain to interstate areas.

Part C: Congressional Review of Rural Housing Rulemaking - Requires the Secretary to transmit to specified congressional committees final rural housing rules, with specified exceptions (including emergency rules). Prohibits such rules from taking effect if: (1) within 45 days after Congress receives a rule, either committee reports or is discharged from considering a concurrent resolution disapproving such rule; (2) within 30 days after such a resolution is reported or discharged, either House adopts it; and (3) within 30 days after one House adopts such resolution, the other House adopts it. Sets forth House and Senate procedures for consideration of such resolutions.

Title VI: Flood, Riot, and Crime Insurance - Amends the National Flood Insurance Act of 1968 to: (1) authorize appropriations for studies under such Act for FY 1983 and 1984; (2) extend the authorization for the flood insurance program for two years; and (3) extend the deadline for establishing and rating flood-risk zones.

Amends the National Housing Act to extend for two years the authority of the Director of the Federal Emergency Management Agency to provide crime and riot insurance. Requires the Director to increase the premiums for crime insurance to exceed the average premiums for 1981 and 1982 by 50 percent.

Directs the Comptroller General of the United States to study and report to specified congressional committees on the marketing of Federal crime insurance.