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H.R. 2167 (113th): Reverse Mortgage Stabilization Act of 2013

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


8/9/2013--Public Law. (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.