,i #aae? ,,congress #b;d ,session ,h4 ,r4 #eiic ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #a1 #bjah,mr4 ,got!im] 7= himself & ,mr4 ,zeld97 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices1 & 9 addition to ! ,committee on ! ,judici>y1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d title #ca1 ,unit$ ,/ates ,code1 to provide = c]ta9 limitations & cl>ifications on false claims & civil actions relat$ to ,f$]al ,h\s+ ,adm9i/ration programs1 ,vet]an ,adm9i/ration1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,fix+ ,h\s+ ,access ,act ( #bjah4 ,i ,false ,claims #aja4 ,am5dm5ts to ! ,false ,claims ,act 7a7 ,false claims proc$ure ,section #cgca7;b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by /rik+ subsection 7b7 & ins]t+ ! foll[+3 7b7 ,a civil action "u section #cgcj may n be br\ght-- 7#a7 except z provid$ 9 p>agraph 7#b71 aft] ! lat] ( m ?an-- 7,a7 #f ye>s aft] ! date on :i* ! violation ( section #cgbi is committ$2 or 7,b7 #c ye>s aft] ! date :5 facts mat]ial to ! "r ( action are kn[n or reasonably %\ld h be5 kn[n by ! (ficial ( ! ,unit$ ,/ates *>g$ ) responsibility to act 9 ! circum/ances1 b 9 no ev5t m ?an #aj ye>s aft] ! date on :i* ! violation is committ$2 or 7#b7 9 ! case ( any claim subject to section #cgbi7;e71 m ?an-- 7,a7 #f ye>s aft] ! date on :i* ! violation ( section #cgbi is committ$1 if su* violation occurs 9 connection ) obta9+ gov]nm5t insurance or gu>anty ( a loan or submitt+ p]iodic c]tifications reg>d+ ! /atus ( ! p]son or s+le asset entity2 or 7,b7 #c ye>s aft] ! date on :i* ! violation ( section #cgbi is committ$1 if su* violation occurs 9 connection ) obta9+ ! paym5t ( a claim = gov]nm5t insurance or gu>anty b5efits 9 respect ( a loan1 &1 9 ea* case1 )\t explicit writt5 cons5t f ! ,secret>y responsible = ! gov]nm5t gu>anty or insurance program4 2 & 7#b7 by /rik+ subsection 7d7 & ins]t+ ! foll[+3 7d7 ,9 any action br\ght "u section #cgcj1 ! ,unit$ ,/ates %all be requir$ to prove all ess5tial elem5ts ( ! cause ( action1 includ+ damages1 ) respect to ea* false claim1 by a prepond]ance ( ! evid5ce4 4 7b7 ,false claims ,section #cgbi ( title #ca1 ,unit$ ,/ates ,codes1 is am5d$ by add+ at ! end ! foll[+-- 7e7 ,claims ,9 ! case ( any claim aris+ f ! ,indian ,home ,loan ,gu>antee ,program1 ! ,native ,hawaiian ,h\s+ ,loan ,gu>antee ,program1 & any program adm9i/]$ by ! ,f$]al ,h\s+ ,adm9i/ration1 ! ,dep>tm5t ( ,vet]ans ,affairs1 or ! ,rural ,h\s+ ,s]vice ( ! ,dep>tm5t ( ,agriculture1 or any successor !reto1 ! foll[+ apply not)/&+ any o!r provision ( ?is *apt]3 7#a7 ,if ! violation ( section #cgbi is bas$ on a false or fraudul5t record or /atem5t 9 connection ) obta9+ gov]nm5t insurance or gu>anty ( a loan1 ! violation ( ?is section is deem$ to h be5 committ$ z ( ! effective date ( su* insurance or gu>anty4 7#b7 ,if ! violation ( section #cgbi is bas$ on a false or fraudul5t record or /atem5t 9 connection ) obta9+ ei!r gov]nm5t insurance or gu>anty ( a loan or submitt+ p]iodic c]tifications reg>d+ ! /atus ( ! p]son or s+le asset entity1 = purposes ( su* a claim1 ! t]m damages %all mean ! net am\nt ( actual losses aft] subtract+ any net liquidation proce$s receiv$ by ! ,gov]nm5t 9 disposition ( ! prop]ty giv+ rise to su* damages4 7#c7 ,if ! violation ( section #cgbi is bas$ on a false or fraudul5t record or /atem5t 9 connection ) obta9+ ei!r gov]nm5t insurance or gu>anty ( a loan or paym5t ( a claim 9 respect ( su* insurance or gu>anty1 ! ,gov]nm5t w n be consid]$ to h su/a9$ damages because ( su* false or fraudul5t record1 /atem5t1 or claim to ! ext5t t ei!r ! loan w\ld h be5 eligible = insurance or gu>anty or ! claim w\ld h be5 eligible = paym5t "u ! applicable gov]nm5t program1 ev5 if a false or fraudul5t record or /atem5t _h n be5 made or ev5 if ! loan w\ld h be5 eligible if ov]paid4 7#d7 ,a false or fraudul5t record or /atem5t is mat]ial to a false or fraudul5t claim only if ! submission ( su* record or /atem5t or its relat$ in=mation to ! ,gov]nm5t-- 7,a7 is expressly requir$ by ! ,gov]nm5t program requirem5ts1 includ+ loan level c]tification1 impli$ c]tifications1 & sub-regulatory guidance1 z "p ( ! eligibility crit]ia = ! ,gov]nm5t's issuance ( ! applicable insurance or gu>anty policy2 7,b7 is made ) respect to an individual loan1 includ+ loan level c]tification2 & 7,c7 influ5c$ ! ,gov]nm5t's insurance or gu>anty1 or paym5t ( money or prop]ty1 bas$ on ! prop] application ( ! applicable ,gov]nm5t program requirem5ts 9 connection ) su* individual claim4 4 ,,ii ,increas$ ,h\s+ & ,urban ,developm5t ,cl>ity & ,en=cem5t #bja4 ,report & ,/udy on defect taxonomy ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all1 n lat] ?an #ij days aft] ! date ( enactm5t1 complete a /udy & report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate on ! au?ority & fund+ ne$$ to ensure en=cem5t & educational & outrea* ef=t reg>d+ ! ,s+le ,family ,h\s+ ,loan ,quality ,assessm5t ,me?odology 79 ?is ,act ref]r$ to z ! defect taxonomy74 #bjb4 ,guidance ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all publi% guidance to cl>ify ! rem$y & en=cem5t proc$ures = mortgage defects relat$ to ! loan-level mortgagee & und]writ] c]tifications on ! ,,hud ,add5dum to ,uni=m ,resid5tial ,loan ,application & ! ,direct ,endorsem5t ,approval = a ,,hud_/,,fha-,insur$ ,mortgage 9 accordance ) ! defect taxonomy4 ,su* guidance %all include an effective date = su* proc$ures to take effect )9 a reasonable am\nt ( "t aft] publication1 b n lat] ?an #f mon?s aft] ! effective date ( ?is legislation4 #bjc4 ,report on effects ( actions ,n lat] ?an #ahj days aft] ! issuance ( guidance "u section #bjb1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t %all complete a /udy & submit a report to ! committees ref]r$ to 9 section #bja on ! effects ( any actions tak5 by ! ,secret>y ) reg>d to-- 7#a7 attract+ private capital back to ! ,f$]al ,h\s+ ,adm9i/ration m>ket2 & 7#b7 :e!r ,s+le ,family ,h\s+ ,loan ,quality ,assessm5t ,me?odology adequately ensur$ ! gov]nm5t has res\rces to prosecute & det] bad actors & protect consum]s4 #bjd4 ,additional guidance ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all publi% guidance to ensure l5d]s are responsible = ! taxonomy /&>ds 9 effect at ! "t ! /&>ds 7 implem5t$ by ! ,secret>y4 ,,iii ,am5dm5ts to ! ,f9ancial ,in/itutions ,re=m1 ,recov]y1 & ,en=cem5t ,act ( #aihi #cja4 ,am5dm5ts to ! ,f9ancial ,in/itutions ,re=m1 ,recov]y1 & ,en=cem5t ,act ( #aihi ,section #iea7;h7 ( ! ,f9ancial ,in/itutions ,re=m1 ,recov]y1 & ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 #ahcc;a7h77 is am5d$-- 7#a7 by /rik+ ,a civil action & ins]t+ ! foll[+3 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 a civil action 2 7#b7 by mov+ p>agraph 7#a71 z add$ by subsection 7a71 #b ems to ! "r2 & 7#c7 by add+ at ! end ! foll[+3 7#b7 ,exception ,9 ! case ( any action "u ?is section aris+ f ! ,indian ,home ,loan ,gu>antee ,program & ! ,native ,hawaiian ,h\s+ ,loan ,gu>antee ,program or any program p]ta9+ to resid5tial mortgage loans insur$ or gu>ante$ by ! ,f$]al ,h\s+ ,adm9i/ration1 ! ,dep>tm5t ( ,vet]ans ,affairs or ! ,rural ,h\s+ ,s]vice ( ! ,dep>tm5t ( ,agriculture1 or any successor !reto1 ! action may n be comm5c$ m ?an-- 7,a7 #f ye>s aft] ! date on :i* ! violation ( ?is ,act is committ$1 if su* violation occurs 9 connection ) obta9+ gov]nm5t insurance or gu>anty ( a loan2 or 7,b7 #c ye>s aft] ! date on :i* ! violation ( ?is ,act is committ$1 if su* violation occurs 9 connection ) obta9+ ! paym5t ( a claim = gov]nm5t insurance or gu>anty b5efits 9 respect ( a loan1 &1 9 ea* case1 )\t explicit writt5 cons5t f ! ,secret>y responsible = ! gov]nm5t gu>anty or insurance program4 4