,,ib  ,union ,calendar ,no4 #bbg  #aafth
 ,,congress  #ast ,session  ,h4 ,r4     
#cada  ,report ,no4 #aaf-bhb  ,,in ,,the
 ,,house ,,of ,,representatives  ,june  
#e1 #bjai ,mr4 ,phillips introduced the 
following bill2 which was referred to   
the ,committee on ,financial ,services  
,november #ab1 #bjai ,reported with an  
amendment1 committed to the ,committee  
of the ,whole ,house on the ,state of   
the ,union1 and ordered to be printed   
,strike out all after the enacting      
clause and insert the part printed in   
italic ,for text of introduced bill1 see
 copy of bill as introduced on ,june #e1
 #bjai  ,a ,,bill  ,to limit the        
collection of annual premiums under the 
,,fha program for mortgage insurance for
 single family housing1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,,fha ,loan         
,affordability ,act of #bjai4  #b4      
,annual premiums  7a7 ,in general       
,paragraph 7#b7 of section #bjc7;c7 of  
the ,national ,housing ,act 7#ab        

,u4,s4,c4 #agji7;c77#b77 is amended--   
7#a7 in subparagraph 7,b7-- 7,a7 in     
clause 7i71 by striking ,for any and    
inserting ,subject to subparagraph 7,d71
 for any2 and  7,b7 in clause 7ii71 by  
striking ,for any and inserting ,subject
 to subparagraph 7,d71 for any2  7#b7 in
 subparagraph 7,c77i71 by striking ,in  
addition and inserting ,subject to      
subparagraph 7,d71 in addition2 and     
7#c7 by adding at the end the following 
new subparagraph3  7,d7 ,the ,secretary 
may not collect any annual premiums     
under this paragraph with respect to a  
mortgage at any time that the remaining 
insured principal balance 7excluding the
 portion of the remaining balance       
attributable to the premium collected   
under subparagraph 7,a77 is #gh percent 
or less than the lower of 7i7 the sales 
price of the dwelling at the sale in    
connection with which the mortgage was  
made1 or 7ii7 the appraised value of the
 dwelling at the time of the origination
 of the mortgage4  4  7b7 ,applicability

 ,the amendments made by subsection 7a7 
of this section shall apply with respect
 only to mortgages insured by the       
,secretary of ,housing and ,urban       
,development after the date of the      
enactment of this ,act4  ,november #ab1 
#bjai ,reported with an amendment1      
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed