Resolution Trust Corporation, Refinancing, Restructuring, and Improvement Act of 1991

Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 - Title I: Resolution Trust Corporation Refinancing - Amends the Federal Home Loan Bank Act to provide additional interim funding for the Resolution Trust Corporation (RTC) not to exceed $25,000,000,000, until April 1, 1992.

Amends the Federal Deposit Insurance Act to modify the terms under which the RTC shall be appointed receiver of a failed depository institution by the Director of the Office of Thrift Supervision.

Amends the Federal Home Loan Bank Act to extend the receivership duties of the RTC. Terminates the borrowing authority of the Financing Corporation. Mandates specified quarterly reports by the RTC to the Congress regarding asset sales and auction sales, as well as Federal Financing Bank Loan status reports. Directs the RTC to submit a semiannual status report regarding national and regional advisory boards. Requires the RTC and Oversight Board to present quarterly budget reports to certain congressional committees.

Title II: Restructuring and Improvement of the Resolution Trust Corporation - Modifies the guidelines for staffing the RTC. Establishes the office of chief executive officer of the RTC to be appointed by the President with the advice and consent of the Senate.

Title III: Reform of the RTC - Resolution Trust Corporation Thrift Depositor Protection Reform Act of 1991 - Redesignates the Oversight Board as the Thrift Depositor Protection Oversight Board to review overall strategies, policies, and goals established by the RTC for its activities. Authorizes such redesignated Board to require the modification of RTC policies and goal implementation and specified operations. Declares that the RTC shall be managed by its chief executive officer. Abolishes the Board of Directors of the Resolution Trust Corporation. Outlines the powers of the chief executive officer of the RTC.

Title IV: Minorities, Women, and Small Business Provisions - Sets forth guidelines for increased participation of minorities and women in the contracting process applied by the RTC. Authorizes the RTC to make available to any minority or women's depository institution the operation of a failed savings institution located in a predominantly minority neighborhood.

Amends the Community Reinvestment Act to extend community investment credit to any depository institution which makes one of its branches in a predominantly minority neighborhood available to a minority or women's depository institution under certain circumstances.

Amends the Federal Home Loan Bank Act to authorize the RTC, under certain circumstances, to provide assistance for minority-owned depository institutions and minority investors for the acquisition of any savings association for which it has been appointed conservator or receiver. Declares that a certain minority interim capital assistance program established by the Oversight Board is hereby established by law. Directs the RTC to provide assistance under such program for minority-owned depository institutions and minority investors for the acquisition of any savings association for which the RTC has been appointed conservator or receiver, and which before such appointment was not a minority-owned association. Extends the period for repayment of capital assistance under such program.

Mandates an annual goal for the RTC that presents the maximum practicable opportunity for small business concerns (and those operated by socially and economically disadvantaged individuals) to participate in the performance of RTC contract awards.

Title V: Miscellaneous Housing Provisions - Amends the Federal Home Loan Bank Act to empower the RTC to: (1) make loans and develop risk-sharing structures and other credit enhancements with respect to eligible residential properties in order to assist in the provision of property ownership, rental, and cooperative housing opportunities for lower- and moderate-income families; and (2) provide credit enhancements with respect to tax-exempt bonds issued on behalf of nonprofit organizations with respect to the disposition of eligible residential properties.

Title VI: Resolution Trust Corporation Affordable Housing Program - Amends the Federal Home Loan Bank Act to prescribe guidelines for the disposition of eligible residential property acquired by the RTC in its capacity as conservator or receiver and earmarked for lower-income occupancy. Authorizes the RTC to transfer such properties to a State or local housing agency for lower-income use, as well as certain nonprofit organizations and public agencies. Requires the RTC to report semiannually to the Congress regarding the disposition of such properties. Sets forth a risk-weighted classification scheme for single and multi-family housing loans.

Title VII: Appraisal Amendments - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to prohibit the Appraisal Subcommittee from setting qualification or experience requirements for the States in licensing real estate appraisers. States that Subcommittee recommendations shall be nonbinding on the States.

Postpones the effective date for use of State certified and State licensed appraisers according to the requirements of such Act.