H.R. 1028 — Introduced in House

I 113th CONGRESS 1st Session H. R. 1028 IN THE HOUSE OF REPRESENTATIVES March 7, 2013 Mr. Capuano introduced the following bill; which was referred to the Committee on Financial Services A BILL To ensure that any authority of the Mutual Mortgage Insurance Fund to borrow amounts from the Treasury is used only to pay mortgage insurance claims. 1. Short title This Act may be cited as the End Unnecessary Borrowing Act of 2013. 2. Limitation on use of borrowing authority Paragraph (2) of section 205(f) of the National Housing Act (12 U.S.C. 1711(f)(2)) is amended— (1) by inserting (A) after (2); and (2) by adding at the end the following new subparagraphs: (B) Subparagraph (A) may not be construed to authorize or require the Secretary to borrow any amounts to comply with the capital ratio requirement under such subparagraph. (C) Notwithstanding any other provision of law, any authority of the Secretary under this Act or otherwise to borrow amounts from the Treasury of the United States for the Mutual Mortgage Insurance Fund may be used only to the extent necessary to pay claims on mortgage insurance that is an obligation of such Fund. .