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HR 1028 113th Congress House Housing and Community Development Government lending and loan guarantees Government trust funds Housing finance and home ownership

End Unnecessary Borrowing Act of 2013

Introduced: March 7, 2013 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 7, 2013
Referred to the House Committee on Financial Services.
Mar 7, 2013
Introduced in House
 Plain-English summary Congressional Research Service

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's happening now March 7, 2013

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1