H.R. 1255 · 113th Congress
Home Construction Lending Regulatory Improvement Act of 2013
- Stage
- In committee
- Sponsor
- Gary Miller
- Introduced
- 2013-03-19
- Latest action
- 2013-03-19 · Introduced in House
Summary
Home Construction Lending Regulatory Improvement Act of 2013 - Directs the appropriate federal banking agencies to initiate a coordinated rulemaking with respect to financial institutions under their respective jurisdictions that make real estate loans to home builders.
Requires such rulemaking to provide for: (1) elimination of the 100% of bank capital measurement, (2) realistic market-based appraisals, and (3) a prohibition against compelling lenders to call or curtail loans in good standing.
Prohibits a federal banking agency from preventing a qualified financial institution from making a real estate loan to a home builder that has a viable project.