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Title IV — Conforming amendments

S. 1048 · 113th Congress · May 23, 2013 · Lineage

IV Conforming amendments

Sec. 401 Amendments to Dodd-Frank Act

Section 15G of the Securities Exchange Act of 1934 (15 U.S.C. 78o–11) is amended—
(1)
in subsection (a)—
(A)
by redesignating paragraphs (3) and (4) as paragraphs (4) and (5), respectively; and
(B)
by inserting after paragraph (2) the following:

“(3) the term qualified residential mortgage has the same meaning as in section 2 of the Mortgage Finance Act of 2013;”

(2)
by adding at the end the following:

“(j) Exemption for qualified mortgage-Backed securities—Qualified mortgage-backed securities, as defined in section 2 of the Mortgage Finance Act of 2013, and any other securitizations of qualified residential mortgages, shall be exempt from the risk retention provisions of subsection (c)(1)(B)(i).”

Sec. 402 Federal Housing Enterprises Financial Safety and Soundness Act of 1992

(a)
Definitions— Section 1303(20) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4502(20)) is amended by striking “means—” and all that follows through “(C) any” and inserting “means any”.
(b)
Transfer of functions— All functions of the FHFA with respect to the enterprises, as that term is defined in section 1303 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4502), other than any function related to receivership of the enterprises, are transferred to the MFA, effective 90 days after the date on which liquidation of the enterprises is complete, in accordance with this Act.