,,ii #aagth ,,congress #ast ,session ,s4 #cjdj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,october #ba1 #bjba,mr4 ,toomey introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to prohibit ,fannie ,mae and ,freddie ,mac from purchasing or otherwise acquiring investor property loans1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,no ,,gse ,subsidies for ,investor ,properties ,act4 #b4 ,definitions ,in this ,act3 7#a7 ,conventional mortgage ,the term conventional mortgage has the meaning given the term in section #cjb7;i7 of the ,federal ,home ,loan ,mortgage ,act 7#ab ,u4,s4,c4 #adea7;i774 7#b7 ,enterprise ,the term enterprise has the meaning given the term in section #acjc of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #dejb74 7#c7 ,investor property loan ,the term investor property loan means a conventional mortgage secured by a property comprising #a-to-#d family dwelling units that is not the principal residence or a second home of the borrower4 #c4 ,prohibition on purchase or acquisition of investor property loans 7a7 ,in general ,notwithstanding any other provision of law1 including the ,federal ,national ,mortgage ,association ,charter ,act 7#ab ,u4,s4,c4 #agaf et seq47 or the ,federal ,home ,loan ,mortgage ,corporation ,act 7#db ,u4,s4,c4 #adea et seq471 on and after the date that is #ah months after the date of enactment of this ,act1 an enterprise may not purchase or otherwise acquire an investor property loan4 7b7 ,transition plans ,the ,federal ,housing ,finance ,agency shall require each enterprise to develop and implement a plan to gradually reduce the purchase and acquisition of investor property loans by the enterprise to achieve compliance with subsection 7a7 while mitigating the risk of disruption to the housing finance market in the ,united ,states4