A bill to amend the Federal Home Loan Bank Act to allow a captive insurance company that was a member of a Federal Home Loan Bank before January 19, 2016, to continue or restore the membership of the captive insurance company in the Federal Home Loan Bank, and for other purposes.

Housing Opportunity Mortgage Expansion Act This bill amends the Federal Home Loan Bank Act to allow the continuation or restoration of Federal Home Loan Bank (FHLB) membership for captive insurance companies that became members prior to finalization of a specified 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.)