End Unnecessary Borrowing Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jan 12, 2017)
End Unnecessary Borrowing Act of 2017
This bill amends the National Housing Act with respect to the requirement that the Department of Housing and Urban Development (HUD) endeavor to ensure that the Mutual Mortgage Insurance Fund (MMI Fund) attains a capital ratio of not less than 2% within 10 years after enactment of that requirement (November 5, 1990) and to ensure that the fund maintains at least that capital ratio at all times thereafter.
The bill prohibits these requirements from being construed to authorize or require HUD to borrow any amounts to comply with the capital ratio requirement.
Any HUD authority to borrow from the Treasury for the MMI Fund may be used only to the extent necessary to pay claims on mortgage insurance that is an obligation of such fund.
What just happenedJan 12, 2017
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseJan 12, 2017
- Jan 12, 2017IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Jan 12, 2017IntroReferralIntro-H
Introduced in House
- Jan 12, 2017IntroReferral1000
Introduced in House