- EnactedAugust 9th, 2013The President signed this bill into law
- The senate Passed July 30th, 2013Passed by Voice Vote
Committee on Banking, Housing, and Urban Affairs
- senate Committees
- The house Passed June 12th, 2013Passed by Voice Vote
Committee on Financial ServicesIntroducedMay 23rd, 2013
- house Committees
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Reverse Mortgage Stabilization Act of 2013
To authorize the Secretary of Housing and Urban Development to establish additional requirements to improve the fiscal safety and soundness of the home equity conversion mortgage insurance program.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners, to authorize the Secretary of Housing and Urban Development (HUD) to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the reverse mortgage program. Declares that such requirements shall take effect upon issuance.