,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #acba  ,,in ,,the ,,house ,,of  
,,representatives  ,march #b1 #bjag,mr4 
,brown of ,maryland introduced the      
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,national      
,housing ,act to require the ,secretary 
of ,housing and ,urban ,development to  
issue guidance to reduce up-front       
premiums for ,,fha-insured mortgages if 
the capital ratio of the ,mutual        
,mortgage ,insurance ,fund exceeds the  
statutory limit1 and for other purposes4
  #a4 ,reduction of up-front premiums   
for ,,fha-insured mortgages  7a7 ,in    
general ,section #bje7;f7 of the        
,national ,housing ,act 7#ab ,u4,s4,c4  
#agaa7;f77 is amended-- 7#a7 by         
redesignating paragraph 7#d7 as         
paragraph 7#e72 and  7#b7 by inserting  
after paragraph 7#c7 the following new  
paragraph3  7#d7 ,reduction in up-,front
 premiums  7,a7 ,review ,the ,secretary 
shall review the capital ratio of the   

,mutual ,mortgage ,insurance ,fund on a 
monthly basis4  7,b7 ,determination     
,beginning on the date of the enactment 
of this paragraph and every #f months   
thereafter1 the ,secretary shall        
determine whether the amount of capital 
in the ,mutual ,mortgage ,insurance     
,fund has resulted in a capital ratio   
that has exceeded the requirement in    
paragraph 7#b7 during the #f-month      
period immediately preceding the date on
 which the determination is made4 ,upon 
making the determination1 the ,secretary
 shall--  7i7 issue guidance to reduce  
the up-front premium collected pursuant 
to section #bjc7;c77#b77;,a72 or  7ii7  
submit a report to ,congress explaining 
why the ,secretary has made a           
determination not to reduce such        
premium4  4  7b7 ,application ,with     
respect to the first such determination 
made about the capital ratio of the     
,mutual ,mortgage ,insurance ,fund as   
required under paragraph 7#d7 of section
 #bje7;f7 of the ,national ,housing     

,act1 as added by paragraph 7#a71 the   
,secretary shall include the #f-month   
period occurring prior to the date of   
the enactment of this ,act for purposes 
of determining the #f-month period      
described in such section #bje7;f77#d7  
of the ,national ,housing ,act4