NOTIFICATION REGARDING SUSPENDED MORTGAGEES.

SEC. 135. NOTIFICATION REGARDING SUSPENDED MORTGAGEES.Section 203 of the National Housing Act is amended by adding at the end the following new subsection: “(s) Whenever the Secretary has taken any discretionary action to suspend or revoke the approval of any mortgagee to participate in any mortgage insurance program under this title, the Secretary shall provide prompt notice of the action and a statement of the reasons for the action to— “(1) the Secretary of Veterans Affairs; “(2) the chief executive officer of the Federal National Mortgage Association; “(3) the chief executive officer of the Federal Home Loan Mortgage Corporation; “(4) the Administrator of the Farmers Home Administration; “(5) if the mortgagee is a national bank or District bank, or a subsidiary or affiliate of such a bank, the Comptroller of the Currency; “(6) if the mortgagee is a State bank that is a member of the Federal Reserve System or a subsidiary or affiliate of such a bank, or a bank holding company or a subsidiary or affiliate of such a company, the Board of Governors of the Federal Reserve System; “(7) if the mortgagee is a State bank that is not a member of the Federal Reserve System or is a subsidiary or affiliate of such a bank, the Board of Directors of the Federal Deposit Insurance Corporation; and “(8) if the mortgagee is a Federal or State savings association or a subsidiary or affiliate of a savings association, the Director of the Office of Thrift Supervision.”.