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S.2734

SAFE Act (Placed on Calendar in Senate)
Beginning
 March 7, 2008
    SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
    Sec. 1. Short title; table of contents.
 TITLE I--PROTECTING HOMEOWNERS
    SEC. 101. SUBPRIME REFINANCING LOANS THROUGH USE OF QUALIFIED MORTGAGE BONDS.
    SEC. 102. EXPEDITIOUS DISTRIBUTION OF FUNDS ALREADY PROVIDED FOR MORTGAGE FORECLOSURE COUNSELING.
    SEC. 103. CREDIT FOR PURCHASE OF HOMES IN OR NEAR FORECLOSURE.
    `SEC. 25E. CREDIT FOR PURCHASE OF HOMES IN OR NEAR FORECLOSURE.
    SEC. 104. ENHANCED MORTGAGE LOAN DISCLOSURES.
    SEC. 105. CARRYBACK OF CERTAIN NET OPERATING LOSSES ALLOWED FOR 5 YEARS; TEMPORARY SUSPENSION OF 90 PERCENT AMT LIMIT.
 TITLE II--MORTGAGE FORECLOSURE PROTECTIONS FOR SERVICEMEMBERS
    SEC. 201. EXPANSION OF PERIOD AFTER SERVICEMEMBER SERVICE OF MORATORIUM ON FORECLOSURE SALES.
    SEC. 202. COUNSELING ON MORTGAGE FORECLOSURES FOR MEMBERS OF THE ARMED FORCES RETURNING FROM SERVICE ABROAD.
 TITLE III--FHA MODERNIZATION ACT OF 2008
    SEC. 301. SHORT TITLE.
 Subtitle A--Building American Homeownership
    SEC. 311. SHORT TITLE.
    SEC. 312. MAXIMUM PRINCIPAL LOAN OBLIGATION.
    SEC. 313. CASH INVESTMENT REQUIREMENT AND PROHIBITION OF SELLER-FUNDED DOWNPAYMENT ASSISTANCE.
    SEC. 314. MORTGAGE INSURANCE PREMIUMS.
    SEC. 315. REHABILITATION LOANS.
    SEC. 316. DISCRETIONARY ACTION.
    SEC. 317. INSURANCE OF CONDOMINIUMS.
    SEC. 318. MUTUAL MORTGAGE INSURANCE FUND.
    SEC. 319. HAWAIIAN HOME LANDS AND INDIAN RESERVATIONS.
    SEC. 320. CONFORMING AND TECHNICAL AMENDMENTS.
    SEC. 321. INSURANCE OF MORTGAGES.
    SEC. 322. HOME EQUITY CONVERSION MORTGAGES.
    SEC. 323. ENERGY EFFICIENT MORTGAGES PROGRAM.
    SEC. 324. PILOT PROGRAM FOR AUTOMATED PROCESS FOR BORROWERS WITHOUT SUFFICIENT CREDIT HISTORY.
    `SEC. 257. PILOT PROGRAM FOR AUTOMATED PROCESS FOR BORROWERS WITHOUT SUFFICIENT CREDIT HISTORY.
    SEC. 325. HOMEOWNERSHIP PRESERVATION.
    SEC. 327. POST-PURCHASE HOUSING COUNSELING ELIGIBILITY IMPROVEMENTS.
    SEC. 328. PRE-PURCHASE HOMEOWNERSHIP COUNSELING DEMONSTRATION.
    SEC. 329. FRAUD PREVENTION.
    SEC. 330. LIMITATION ON MORTGAGE INSURANCE PREMIUM INCREASES.
    SEC. 331. SAVINGS PROVISION.
    SEC. 332. IMPLEMENTATION.
    SEC. 333. MORATORIUM ON IMPLEMENTATION OF RISK-BASED PREMIUMS.
 Subtitle B--Manufactured Housing Loan Modernization
    SEC. 341. SHORT TITLE.
    SEC. 342. PURPOSES.
    SEC. 343. EXCEPTION TO LIMITATION ON FINANCIAL INSTITUTION PORTFOLIO.
    SEC. 344. INSURANCE BENEFITS.
    SEC. 345. MAXIMUM LOAN LIMITS.
    SEC. 346. INSURANCE PREMIUMS.
    SEC. 347. TECHNICAL CORRECTIONS.
    SEC. 348. REVISION OF UNDERWRITING CRITERIA.
    SEC. 349. PROHIBITION AGAINST KICKBACKS AND UNEARNED FEES.
    `SEC. 10. PROHIBITION AGAINST KICKBACKS AND UNEARNED FEES.
    SEC. 350. LEASEHOLD REQUIREMENTS.
 March 10, 2008
 
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