,,ii  #aagth ,,congress  #ast ,session  
,s4 #baca  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #ag1     
#bjba ,mr4 ,tester 7for himself and ,ms4
 ,lummis7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,banking1 ,housing1   
and ,urban ,affairs  ,a ,,bill  ,to     
require a review of the effects of ,,fha
 mortgage insurance policies1 practices1
 and products on small-dollar mortgage  
lending1 and for other purposes4  #a4   
,short title ,this ,act may be cited as 
the ,improving ,,fha ,support for       
,small-,dollar ,mortgages ,act of #bjba4
  #b4 ,review of ,,fha small-dollar     
mortgage practices  7a7 ,congressional  
findings ,the ,congress finds that--    
7#a7 affordable homeownership           
opportunities are being hindered due to 
the lack of financing available for home
 purchases under #ajj1jjj2  7#b7        
according to the ,urban ,institute1     
small-dollar mortgage loan applications 
in #bjai were significantly more likely 

to be denied by lenders than large      
mortgage loans1 and this difference in  
denial rates cannot be fully explained  
by differences in the applicants' credit
 profiles2  7#c7 according to data      
compiled by ,attom ,data solutions1     
mortgage originations for loans of      
#gj1jjj or less have decreased #ch      
percent since #bjji1 while there has    
been a #fe-percent increase in          
origination of mortgages for more than  
#aej1jjj2  7#d7 the mission of the      
,federal ,housing ,administration       
7referred to in this section as the     
,,fha7 is to serve creditworthy         
borrowers who are underserved and       
disproportionately serve borrowers with 
lower incomes1 but1 according to the    
,urban ,institute1 the ,,fha serves a   
smaller share of borrowers seeking      
small-dollar mortgage loans than        
borrowers seeking larger loans at every 
income level2 and  7#e7 the causes      
behind these variations are not fully   
understood but merit study that could   

assist in furthering the ,department of 
,housing and ,urban ,development's      
mission1 including meeting the housing  
needs of borrowers the program is       
designed to serve and reducing barriers 
to homeownership1 while protecting the  
solvency of the ,mutual ,mortgage       
,insurance ,fund4  7b7 ,review ,the     
,secretary of ,housing and ,urban       
,development 7referred to in this       
section as the ,secretary7 shall conduct
 a review of its ,,fha single-family    
mortgage insurance policies1 practices1 
and products to identify any barriers or
 impediments to supporting1             
facilitating1 and making available      
mortgage insurance for mortgages having 
an original principal obligation of     
#ajj1jjj or less4 ,not later than the   
expiration of the #ab-month period      
beginning on the date of the enactment  
of this ,act1 the ,secretary shall      
submit a report to the ,congress        
describing the findings of such review  
and the actions that the ,secretary will

 take1 without adversely affecting the  
solvency of the ,mutual ,mortgage       
,insurance ,fund4