,,ii  #aacth ,,congress  #ast ,session  
,s4 #dfi  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #f1 #bjac    
,mr4 ,menendez introduced the following 
bill2 which was read twice and referred 
to the ,committee on ,banking1 ,housing1
 and ,urban ,affairs  ,a ,,bill  ,to    
assist the ,secretary of ,housing and   
,urban ,development in stabilizing the  
,home ,equity ,conversion ,mortgage     
program4  #a4 ,stabilizing the ,,hecm   
program ,section #bee of the ,national  
,housing ,act 7#ab ,u4,s4,c4 #agaez-#bj7
 is amended--  7#a7 in subsection       
7d77#h7--  7,a7 by inserting property   
maintenance1 before insurance2 and  7,b7
 by inserting 1 including matters that  
set forth terms and provisions for      
establishing escrow accounts1 performing
 financial assessments1 or limiting the 
amount of any payment made available    
under the mortgage before the semicolon2
 and  7#b7 in subsection 7h7--  7,a7 in 
paragraph 7#a71 by striking 2 and and   
inserting a semicolon2  7,b7 in         

paragraph 7#b71 by striking the period  
and inserting 2 and2 and  7,c7 by adding
 at the end the following new paragraph3
  7#c7 by notice or mortgagee letter1   
establish any additional or alternative 
requirements that the ,secretary1 in his
 or her discretion1 determines necessary
 to more effectively carry out the      
provisions of this section1 and any such
 notice or mortgagee letter shall take  
effect upon issuance4  4