To amend the Federal Home Loan Bank Act to permit captive insurance companies that were members of a Federal Home Loan Bank prior to September 12, 2014, to continue to be eligible to be members of such a Bank, and for other purposes.

Housing Opportunity Mortgage Expansion Act This bill amends the Federal Home Loan Bank Act to continue Federal Home Loan Bank (FHLB) membership for captive insurance companies that became members prior to publication of the proposed (now final) Federal Housing Finance Agency rule ending their FHLB membership. (A captive insurance company underwrites insurance for its parent company and does not provide insurance to the public.) The parent company must support residential mortgage activities.