A bill to increase the actuarial soundness of the Government National Mortgage Association.

Requires that every person who makes a finance charge for any extension of credit for a mortgage at an annual percentage rate in excess of 8 percent shall pay an annual interest stabilization fee to the Government National Mortgage Association in an amount equal to 1 percent of the annual interest charge for each one-tenth percentage point by which the annual percentage rate exceeds 8 percent. Provides that where the amount financed varies during the year, or the period of repayment is less than a year, the amount of the fee shall be ratably adjusted. Provides that where the period of repayment is more than a year, the fee shall be paid with respect to each year during which there is at any time an unpaid balance outstanding, but need not be paid in advance of receipt of the finance charge.

Exempts from the provisions of this Act any loan meeting all of the following conditions: (1) the amount of the loan is under $10,000, and (2) the making of the loan is regulated by an agency of a State under a small loan law or similar statute.

States that for the purposes of this Act, the terms "finance charge", and "annual percentage rate" shall be defined as in the Truth in Lending Act, but shall not be restricted to consumer and agricultural transactions.

Directs the Government National Mortgage Association to prescribe such regulations as may be necessary or appropriate to carry out the provisions of this Act.

Provides that any fees paid pursuant to this Act shall be held by the Government National Mortgage Association in a separate fund, and pursuant to title III of the National Housing Act, as amended, to stabilize and strengthen the national housing market.