,,ii #aagth ,,congress #ast ,session ,s4 #biha ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,october #g1 #bjba,mr4 ,rubio 7for himself and ,mr4 ,ossoff7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,national ,housing ,act to establish a mortgage insurance program for first responders1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,homes for ,every ,local ,protector1 ,educator1 and ,responder ,act of #bjba or the ,,helper ,act of #bjba4 #b4 ,,fha mortgage insurance program for mortgages for first responders ,title ,,ii of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agjg et seq47 is amended by adding at the end the following new section3 #bei4 ,,fha mortgage insurance program for mortgages for first responders 7a7 ,authority ,subject to subsection 7i71 the ,secretary may1 upon application by a mortgagee1 insure any mortgage eligible for insurance under this section and1 upon such terms and conditions as the ,secretary may prescribe1 make commitments for the insurance of such mortgages prior to the date of their execution or disbursement4 7b7 ,eligible mortgagors ,the mortgagor for a mortgage insured under this section shall1 at the time the mortgage is executed1 meet the following requirements3 7#a7 ,first responder ,the mortgagor shall be-- 7,a7 7i7 employed full-time by a law enforcement agency of the ,federal ,government1 a ,state 7as such term is defined in section #bja71 or a unit of general local government2 and 7ii7 in carrying out such full-time employment1 sworn to uphold1 and make arrests for violations of1 ,federal1 ,state1 county1 township1 or municipal laws1 or authorized by law to supervise sentenced criminal offenders2 7,b7 employed full-time as a firefighter1 paramedic1 or emergency medical technician by a fire department or emergency medical services responder unit of the ,federal ,government1 a ,state1 or a unit of general local government2 or 7,c7 employed as a full-time teacher by a ,state-accredited public school or private school that provides direct services to students in grades pre-kindergarten through #ab4 7#b7 ,years of service ,the mortgagor shall have been-- 7,a7 employed as required under paragraph 7#a7 before application for a mortgage insured under this section for #d or more consecutive years2 or 7,b7 released from employment described in paragraph 7#a77;,c7 due to an occupation-connected disability resulting directly from such duty or employment4 7#c7 ,intent for future service ,except in the case of a mortgagor described in paragraph 7#b77;,b71 the mortgagor shall have certified that the mortgagor in good faith intends to continue employment as described in paragraph 7#a7 for at least one year following the date of closing on the mortgage4 7#d7 ,good standing ,the mortgagor shall be in good standing with respect to the employment required under paragraph 7#a7 and not on probation or under investigation for conduct that1 if determined to have occurred1 is grounds for termination of employment4 7#e7 ,acceptable risk ,the mortgagor meets such requirements as the ,secretary shall establish to ensure that insurance of the mortgage represents an acceptable risk to the ,mutual ,mortgage ,insurance ,fund4 7#f7 ,actuarial objectives ,the mortgagor meets such underwriting requirements as the ,secretary shall establish to meet actuarial objectives identified by the ,secretary1 which may include avoiding a positive subsidy rate or complying with the capital ratio requirement under section #bje7;f77#b74 7#g7 ,one-time use ,the mortgagor shall never previously have been the mortgagor under a mortgage insured under this section4 7c7 ,mortgage terms ,a mortgage insured under this section shall comply with the following requirements3 7#a7 ,use of proceeds ,the proceeds of the mortgage shall be used only-- 7,a7 to purchase1 construct1 or repair a #a-;family residence1 including a #a-;family dwelling unit in a condominium project2 or 7,b7 to purchase-- 7i7 a manufactured home to be permanently affixed to a lot that is owned by the mortgagor2 or 7ii7 a manufactured home and a lot to which the home will be permanently affixed4 7#b7 ,security ,the mortgage shall be secured by an interest in the residence for which the proceeds are used4 7#c7 ,no downpayment ,subject to paragraph 7#e7 of this subsection1 the mortgage may involve an original principal obligation in an amount up to #ajj percent of the cost of acquisition of the residence involved 7including charges and fees referred to in such paragraph 7#e7 and the premium pursuant to subsection 7d77#a77 and shall not require that the mortgagor shall pay any amount1 in cash or its equivalent1 on account of the property4 7#d7 ,use as principal residence 7,a7 ,requirement ,the residence securing the mortgage shall be occupied1 during the term of the mortgage1 by the mortgagor as the mortgagor's principal residence4 7,b7 ,certification ,the mortgagor shall certify compliance with subparagraph 7,a7 upon the execution of the mortgage and annually during the period specified in such subparagraph4 7#e7 ,loan limits ,the mortgage shall involve an original principal obligation 7including such initial service charges1 appraisal1 inspection1 and other fees to the extent allowable in connection with a mortgage insured under section #bjc7 not exceeding the amount allowable with respect to a mortgage insured under section #bjc7;h74 7#f7 ,closing costs ,the ,secretary shall provide that the seller of a residence acquired using a mortgage insured under this section may pay all or a part of any closing costs associated with such sale1 subject to such limits as the ,secretary shall establish4 7#g7 ,mortgagee ,a mortgage insured under this section shall be originated by a mortgagee approved by ,secretary under this title4 7#h7 ,interest ,a mortgage insured under this section shall bear interest at rate agreed to by the mortgagor and mortgagee1 which may be adjustable4 7d7 ,mortgage insurance premium 7#a7 ,up-front premium ,subject to paragraph 7#b71 the ,secretary shall establish and collect an insurance premium in connection with each mortgage insured under this section1 at the time and in the manner provided under section #bjc7;c77#b77;,a71 except that such premiums shall be in an amount equal to #c4f percent of the amount of the original insured principal obligation of the mortgage4 7#b7 ,authority to adjust ,the ,secretary may adjust the percentages specified in paragraph 7#a7 from time to time by increasing or decreasing such percentages as the ,secretary considers necessary1 based on the performance of mortgages insured under this section and market conditions4 7#c7 ,prohibition of monthly premiums ,a mortgage insured under this section shall not be subject to a monthly insurance premium1 including a premium under section #bjc7;c77#b77;,b74 7e7 ,extent of insurance ,mortgage insurance under this section shall provide insurance of the mortgage in the same amount as would be guaranteed under section #cgjc7;a77#a7 of title #ch1 ,united ,states ,code1 for a loan guaranteed under chapter #cg of such title having an original principal obligation in the same amount as such mortgage4 7f7 ,procedure upon default ,in the event of default in the payment of any mortgage insured under this section1 such mortgage shall be subject to the same requirements1 conditions1 and procedures applicable under this title to mortgages insured under section #bjc that are in default4 7g7 ,,mmif ,a mortgage insured under this section shall be an obligation of the ,mutual ,mortgage ,insurance ,fund established under section #bjb7;a74 7h7 ,reauthorization required ,the authority to enter into new commitments to insure mortgages under this section shall expire upon the conclusion of the #e-year period beginning on the date of the enactment of this section unless otherwise specifically provided by 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