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Housing Finance Reform and Taxpayer Protection Act

Housing Finance Reform and Taxpayer Protection Act

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02/17/2014

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(a) EFFECTIVEDATE.—The amendments made by

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this section shall take effect on the date of enactment of

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this Act.

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(b) REFERENCESINFEDERALLAW.—On and after

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the date of enactment of this Act, any reference in Federal

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law to the Director of the Federal Housing Finance Agen-

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cy or the Federal Housing Finance Agency, in connection

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with any function of the Director of the Federal Housing

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Finance Agency or the Federal Housing Finance Agency

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transferred under section 301, shall be deemed a reference

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to the Chairperson of the Federal Mortgage Insurance

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Corporation or the Federal Mortgage Insurance Corpora-

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tion, as appropriate and consistent with the amendments

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made by this Act.

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(c) TITLE18, UNITEDSTATESCODE.—Title 18,

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United States Code, is amended—

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(1) in section 1905, by inserting ‘‘or the Fed-

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eral Mortgage Insurance Corporation’’ after ‘‘Fed-

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eral Housing Finance Agency’’;

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(2) in section 212(c)(2)—

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(A) in subparagraph (F), by striking ‘‘;

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and’’ and inserting a semicolon;

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(B) in subparagraph (G), by striking the

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period at the end and inserting ‘‘; and’’; and

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(C) by adding at the end the following:

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‘‘(H) the Federal Mortgage Insurance Cor-

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poration.’’;

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(3) in section 657, by inserting ‘‘the Federal

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Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency,’’;

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(4) in section 1006, by inserting ‘‘the Federal

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Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency,’’; and

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(5) in section 1014, by inserting ‘‘the Federal

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Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency,’’.

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(d) FLOODDISASTERPROTECTIONACTOF1973.—

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Section 102(b)(5) of the Flood Disaster Protection Act of

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1973 (42 U.S.C. 4012a(b)(5)) is amended in subsection

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(b)(5), by inserting ‘‘the Federal Mortgage Insurance Cor-

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poration,’’ after ‘‘Federal Housing Finance Agency,’’.

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(e) TITLE5, UNITEDSTATESCODE.—Title 5,

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United States Code, is amended—

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(1) in section 5313, by inserting the following

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new item after the item relating to the Director of

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the Federal Housing Finance Agency:

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‘‘Director of the Federal Mortgage Insurance

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Corporation.’’; and

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(2) in section 3132(a)(1)(D), by inserting ‘‘the

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Federal Mortgage Insurance Corporation,’’ after

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‘‘Federal Housing Finance Agency,’’.

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(f)

SARBANES-OXLEY

ACT.—Section

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105(b)(5)(B)(ii)(II) of the Sarbanes-Oxley Act of 2002

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(15 U.S.C. 7215(b)(5)(B)(ii)(II)) is amended by inserting

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‘‘or the Chairperson of the Federal Mortgage Insurance

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Corporation’’ after ‘‘Director of the Federal Housing Fi-

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nance Agency’’.

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(g) FEDERALDEPOSITINSURANCEACT.—The Fed-

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eral Deposit Insurance Act (12 U.S.C. 1811 et seq.) is

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amended—

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(1) in section 7(a)(2)(A), by inserting ‘‘the

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Federal Mortgage Insurance Corporation,’’ after

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‘‘Federal Housing Finance Agency,’’ each place that

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term appears;

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(2) in section 8(e)(7)(A)(vi), by inserting ‘‘, the

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Federal Mortgage Insurance Corporation,’’ after

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‘‘Federal Housing Finance Agency’’;

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(3) in section 11(t)(2)(A), by adding at the end

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the following:

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‘‘(viii) The Federal Mortgage Insur-

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ance Corporation.’’; and

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(4) in section 33(e), by inserting ‘‘, the Federal

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Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency’’.

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(h) RIEGLECOMMUNITYDEVELOPMENTANDREGU-

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LATORYIMPROVEMENTACTOF1994.—Section 117(e) of

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the Riegle Community Development and Regulatory Im-

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provement Act of 1994 (12 U.S.C. 4716(e)) is amended

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by inserting ‘‘the Federal Mortgage Insurance Corpora-

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tion,’’ after ‘‘Federal Housing Finance Agency,’’.

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(i) MAHRA ACTOF1997.—Section 517(b)(4) of the

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Multifamily Assisted Housing Reform and Affordability

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Act of 1997 (42 U.S.C. 1437f note) is amended by insert-

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ing ‘‘the Federal Mortgage Insurance Corporation,’’ after

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‘‘Federal Housing Finance Agency,’’.

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(j) TITLE44, UNITEDSTATESCODE.—Section

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3502(5) of title 44, United States Code, is amended by

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inserting ‘‘the Federal Mortgage Insurance Corporation,’’

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after ‘‘Federal Housing Finance Agency,’’.

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(k) ACCESSTOLOCALTV ACTOF2000.—Section

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1004(d)(2)(D)(iii) of the Launching Our Communities’

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Access to Local Television Act of 2000 (47 U.S.C.

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1103(d)(2)(D)(iii)) is amended by inserting ‘‘ or the Fed-

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eral Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency’’.

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(l) FIRREA.—The Financial Institutions Reform,

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Recovery, and Enhancement Act of 1989 is amended—

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(1) in section 1216—

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(A) in subsection (a)—

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(i) in paragraph (2), by striking ‘‘;

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and’’ and inserting a semicolon;

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(ii) in paragraph (3), by striking the

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period and inserting ‘‘; and’’; and

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(iii) by adding at the end the fol-

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lowing:

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‘‘(4) the Federal Mortgage Insurance Corpora-

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tion.’’; and

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(B) in subsection (c), by inserting ‘‘the

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Federal Mortgage Insurance Corporation,’’ be-

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fore ‘‘and the Federal Housing Finance Agen-

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cy,’’;

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(2) in section 402(e), by striking ‘‘Federal

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Housing Finance Agency’’ each place that term ap-

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pears and inserting ‘‘Federal Mortgage Insurance

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Corporation’’;

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(3) in section 1124, by inserting ‘‘the Federal

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Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency,’’ each place that term ap-

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pears; and

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(4) in section 1125(b), by inserting ‘‘the Fed-

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eral Mortgage Insurance Corporation,’’ after ‘‘Fed-

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eral Housing Finance Agency,’’.

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(m) EESA.—The Emergency Economic Stabilization

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Act of 2008 (12 U.S.C. 5201 note) is amended—

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(1) in section 104(b)—

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(A) in paragraph (4), by striking ‘‘; and’’

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and inserting a semicolon;

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(B) in paragraph (5), by striking the pe-

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riod and inserting ‘‘; and’’; and

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(C) by adding at the end the following:

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‘‘(6) the Federal Mortgage Insurance Corpora-

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tion.’’; and

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(2) in section 109(b), by inserting ‘‘the Federal

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Mortgage Insurance Corporation,’’ after ‘‘Federal

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Housing Finance Agency,’’.

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(n) DODD-FRANKACT.—The Dodd-Frank Wall

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Street Reform and Consumer Protection Act (Public Law

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111-203) is amended—

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(1) in section 342(g)(1)—

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(A) in subparagraph (H), by striking ‘‘;

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and’’ and inserting a semicolon;

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(B) in subparagraph (I), by striking the

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period and inserting ‘‘; and’’; and

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(C) by adding at the end the following:

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‘‘(J) the Federal Mortgage Insurance Cor-

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poration.’’;

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(2) in section 989E(a)(1), by adding at the end

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the following:

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‘‘(J) The Federal Mortgage Insurance Cor-

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poration.’’; and

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(3) in section 1481(b), by inserting ‘‘the Fed-

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eral Mortgage Insurance Corporation,’’ after ‘‘Fed-

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eral Housing Finance Agency,’’.

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(o) HOUSINGANDURBAN-RURALRECOVERYACT.—

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Section 469 of the Housing and Urban-Rural Recovery

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Act of 1983 (12 U.S.C. 1701p-1) is amended, in the first

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sentence, by inserting ‘‘the Federal Mortgage Insurance

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Corporation,’’ after ‘‘Federal Housing Finance Agency,’’.

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(p) NEIGHBORHOODREINVESTMENTCORPORATION

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ACT.—Section 606(c)(3) of the Neighborhood Reinvest-

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ment Corporation Act (42 U.S.C. 8105(c)(3)) is amended

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by inserting ‘‘, the Federal Mortgage Insurance Corpora-

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tion,’’ after ‘‘Federal Housing Finance Agency’’.

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(q) FEDERALINSURANCEOFFICEACT.—Section

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313(r)(4) of title 31, United States Code, is amended by

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inserting ‘‘the Federal Mortgage Insurance Corporation,’’

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after ‘‘Federal Housing Finance Agency,’’.

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(r) COMMODITY

EXCHANGE

ACT.—Section

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1a(39)(E) of the Commodity Exchange Act (7 U.S.C.

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1a(39)(E)) is amended—

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(1) by striking ‘‘a regulated entity’’ and insert-

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ing ‘‘an enterprise’’; and

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(2) by inserting before the period at the end

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‘‘the Federal Mortgage Insurance Corporation in the

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case of a swap dealer, major swap participant, secu-

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rity-based swap dealer, or major security-based swap

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participant that is a Federal Home Loan Bank’’.

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(s) TRUTHINLENDINGACT.—The Truth in Lending

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Act (15 U.S.C. 1601 et seq.) is amended—

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(1) section 129H(b)(4), by inserting ‘‘the Fed-

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eral Mortgage Insurance Corporation,’’ after ‘‘Fed-

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eral Housing Finance Agency,’’; and

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(2) in section 129E—

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(A) in subsection (g)(1), by inserting ‘‘the

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Federal Mortgage Insurance Corporation,’’

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after ‘‘Federal Housing Finance Agency,’’; and

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(B) in subsection (h), by inserting ‘‘the

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Federal Mortgage Insurance Corporation,’’

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after ‘‘Federal Housing Finance Agency,’’.

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(t) FFIEC.—The first sentence of section 1011 of

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the Federal Financial Institutions Examination Council

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Act of 1978 (12 U.S.C. 3310) is amended by inserting

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‘‘the Federal Mortgage Insurance Corporation,’’ before

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‘‘and the Federal Housing Finance Agency’’.

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TITLE IV—IMPROVING TRANS-

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PARENCY, ACCOUNTABILITY,

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AND EFFICACY WITHIN AF-

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FORDABLE HOUSING

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