FHA reporting requirements on safety and soundness

(a) Monthly reporting on mutual mortgage insurance fund capital ratio Section 202(a) of the National Housing Act (12 U.S.C. 1708(a)) is amended by adding at the end the following: (8) Other required reporting The Secretary shall— (A) submit to Congress monthly reports on the capital ratio required under section 205(f)(2); and (B) notify Congress as soon as practicable after the Fund falls below the capital ratio required under section 205(f)(2).. (b) Annual independent actuarial study Section 202(a)(4) of the National Housing Act (12 U.S.C. 1708(a)(4)) is amended— (1) by striking The Secretary and inserting the following: (A) Definition In this paragraph, the term first-time homebuyer means a borrower for whom no consumer report (as defined in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)) indicates that the borrower has or had a loan with a consumer purpose that is secured by a 1- to 4-unit residential real property. (B) Study and report The Secretary; and (2) in subparagraph (B), as so designated, in the fourth sentence, by striking also and inserting detail how many loans were originated in each census tract to first-time homebuyers, and. (c) Annual report Section 203(w)(2) of the National Housing Act (12 U.S.C. 1709(w)(2)) is amended by inserting and covered and first-time homebuyers (as defined in section 202(a)(4)(A)) after minority borrowers.

Section 202(a) of the National Housing Act (12 U.S.C. 1708(a)) is amended by adding at the end the following: (8) Other required reporting The Secretary shall— (A) submit to Congress monthly reports on the capital ratio required under section 205(f)(2); and (B) notify Congress as soon as practicable after the Fund falls below the capital ratio required under section 205(f)(2)..