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Reverse Mortgages to Help America's Seniors Act (Placed on Calendar in Senate)

Calendar No. 351

HR 2892 PCS

109th CONGRESS

1st Session

H. R. 2892

IN THE SENATE OF THE UNITED STATES

December 15, 2005

Received and read the first time

December 16, 2005

Read the second time and placed on the calendar

AN ACT

To amend section 255 of the National Housing Act to remove the limitation on the number of reverse mortgages that may be insured under the FHA mortgage insurance program for such mortgages.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Reverse Mortgages to Help America's Seniors Act'.

SEC. 2. ELIMINATION OF CAP ON NUMBER OF MORTGAGES INSURED.

    Section 255 of the National Housing Act (12 U.S.C. 1715z-20) is amended--

      (1) in subsection (g), by striking the first sentence; and

      (2) in subsection (i)(1)(C), by striking `limitations' and inserting `limitation'.

Passed the House of Representatives December 14, 2005.

Attest:

KAREN L. HAAS,

Clerk.

Calendar No. 351

109th CONGRESS

1st Session

H. R. 2892

AN ACT

To amend section 255 of the National Housing Act to remove the limitation on the number of reverse mortgages that may be insured under the FHA mortgage insurance program for such mortgages.

December 16, 2005

Read the second time and placed on the calendar