Homeowners' Defense Act of 2010

[AI summary unavailable — showing source text] Homeowners' Defense Act of 2009 - Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market. Authorizes the Secretary of the Treasury to guarantee holders of debt against loss of principal or interest, or both, on any such debt issued by eligible state programs for purposes of promoting the availability of private capital to provide liquidity and capacity to state catastrophe insurance programs and expediting the payment of claims under such programs and better assist the financial recovery from significant natural catastrophes. Pr…