End Unnecessary Borrowing Act of 2013
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 4, 2013)
End Unnecessary Borrowing Act of 2013 - Amends the National Housing Act with respect to the requirement that the Secretary of Housing and Urban Development (HUD) endeavor to ensure that the Mutual Mortgage Insurance 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.
Prohibits these requirements from being construed to authorize or require the Secretary to borrow any amounts to comply with the capital ratio requirement.
Limits the use of any authority of the Secretary to borrow from the Treasury for the Mutual Mortgage Insurance Fund only to the extent necessary to pay claims on mortgage insurance that is an obligation of such Fund.
What just happenedMar 4, 2013
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMar 4, 2013
- Mar 4, 2013IntroReferralH11100
Referred to the House Committee on Financial Services.
- Mar 4, 2013IntroReferralIntro-H
Introduced in House
- Mar 4, 2013IntroReferral1000
Introduced in House