Page:United States Statutes at Large Volume 122.djvu/2863

 12 2 STA T . 2 840PUBLIC LA W 110 – 28 9—J UL Y3 0, 2008 any n ewcom m it ment to in sur e any mort g age , or new l y insure any mortgage, p ursuant to t h e automate d process esta b lished under this section .’ ’. ( b )GAOREPORT . —N ot later than the e x piration o f the two - year period beginning on the date of the enactment of this subtitle, the C omptroller General of the U nited S tates shall submit to the Congress a report identifying the number of additional mortgagors ser v ed using the automated process established pursuant to section 257 of the National H ousing Act (as added by the amendment made by subsection (a) of this section) and the impact of such process and the insurance of mortgages pursuant to such process on the safety and soundness of the insurance funds under the National Housing Act of which such mortgages are obligations. SEC.21 2 5 . HOM EO WN E R SH IP PRESER VAT ION. T he Secretary of Housing and Urban D evelopment and the Commissioner of the F ederal Housing Administration, in consulta- tion with industry, the Neighborhood Reinvestment Corporation, and other entities involved in foreclosure prevention activities, shall— ( 1 ) develop and implement a plan to improve the Federal Housing Administration’s loss mitigation process and (2) report such plan to the Committee on B an k ing, Housing, and Urban Affairs of the Senate and the Committee on Finan- cial Services of the House of Representatives. SEC. 212 6 . U SEO F FHA SAVIN G S FOR IMPROVEMENTS IN FHA TECH - NO L OGIES , PROCE D URES, PROCESSES, PROGRAM PERFORMANCE, STAFFING, AND SALARIES. (a) A U T H OR IZA TIO N O F APPROPRIATION S .—There is authori z ed to be appropriated for each of fiscal years 2 0 0 9 through 201 3, $ 25,000,000, from negative credit subsidy for the mortgage insur- ance programs under title I I of the National Housing Act, to the Secretary of Housing and Urban Development for increasing funding for the purpose of improving technology, processes, program performance, eliminating fraud, and for providing appropriate staffing in connection with the mortgage insurance programs under title II of the National Housing Act. (b) CERTIFI C ATION.—The authorization under subsection (a) shall not be effective for a fiscal year unless the Secretary of Housing and Urban Development has, by rulemaking in accordance with section 553 of title 5, United States Code (notwithstanding subsections (a)(2), (b)(B), and (d)(3) of such section), made a deter- mination that— (1) premiums being, or to be, charged during such fiscal year for mortgage insurance under title II of the National Housing Act are established at the minimum amount sufficient to— (A) comply with the re q uirements of section 205(f) of such Act (relating to required capital ratio for the M utual Mortgage Insurance Fund); and (B) ensure the safety and soundness of the other mort- gage insurance funds under such Act; and (2) any negative credit subsidy for such fiscal year resulting from such mortgage insurance programs adequately ensures the efficient delivery and availability of such programs. (c) STU DY AND REPORT.—The Secretary of Housing and Urban Development shall conduct a study to obtain recommendations from Regulations. Re p o r ts. P lans. 12USC 1 7 1 0 note. D ea d line.

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