,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #acce  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #ba1 #bjac ,mrs4 
,davis ( ,cali=nia introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to      
require ,fannie ,mae & ,fr$die ,mac to  
disclose ! m9imum pur*ase price t su* an
 ent]prise w accept on ! %ort sale ( a  
resid5ce f9anc$ by a mortgage pur*as$ by
 su* an ent]prise 9 ord] to make %ort   
sales a viable alt]native to =eclosure4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,%ort ,sale ,transp>5cy ,act ( #bjac4 
#b4 ,%ort sale disclosure requirem5t    
7a7 ,disclosure ,! ,director ( ! ,f$]al 
,h\s+ ,f9ance ,ag5cy %all require !     
,f$]al ,national ,mortgage ,association 
& ! ,f$]al ,home ,loan ,mortgage        
,corporation1 9 any case 9 :i* su*      
,association or ,corporation d5ies !    
pur*ase ( a resid5tial mortgage loan    
made to f9ance ! pur*ase1 "u a %ort     
sale1 ( a cov]$ dwell+ on ! basis t !   
pur*ase price involv$ 9 ! %ort sale is  

insuffici5t1 to promptly disclose to !  
prospective sell] ( ! cov]$ dwell+ !    
am\nt by :i* su* pur*ase price 0 less   
?an ! m9imum pur*ase price suffici5t =  
su* ,association or ,corporation to     
approve pur*ase ( su* mortgage4  7b7    
,def9itions ,= purposes ( ?is section1 !
 foll[+ def9itions %all apply3  7#a7    
,%ort sale ,! t]m %ort sale means1 )    
respect to a resid5tial mortgage loan on
 a cov]$ dwell+1 a pur*ase ( ! dwell+ t 
w result 9 proce$s 9 an am\nt t is less 
?an ! rema9+ am\nt due "u ! resid5tial  
mortgage loan on ! cov]$ dwell+4  7#b7  
,cov]$ dwell+ ,! t]m cov]$ dwell+ means 
a resid5tial real prop]ty t--  7,a7     
consi/s ( f "o to f\r dwell+ units2 &   
7,b7 is subject to a mortgage1 de$ or   
tru/1 or o!r security int]e/ t secures a
 resid5tial mortgage loan on :i* !      
mortgagor is del9qu5t on paym5ts due "u 
! mortgage loan4