Directs the Board to ensure that the enterprises operate in a financially safe manner and remain adequately capitalized.
Sets forth Board operating, administrative, and regulatory provisions, including: (1) public disclosure of information; (2) assessment authority; (3) elimination of specified enterprise regulatory authority of HUD; (4) prior approval authority over new activities; (5) authority to limit nonmission-related assets and set specified conforming loan limits; (6) establishment of a housing price index; (7) minimum and critical capital levels; (8) risk-based capital test; (9) capital classifications and undercapitalized enterprises; (10) receivership; (11) enforcement actions and penalties; and (12) reporting.
Abolishes the Office of Federal Housing Enterprise Oversight. Sets forth related transfer of personnel and facility and property provisions.