,,ii  #aah? ,,congress  #a/ ,session    
,s4 #bfhg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bg1 #bjbc ,mr4  
,k5n$y introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to provide additional          
requirem5ts = ! pur*ase & sale (        
conv5tional mortgages by ! ent]prises1 &
 = o!r purposes4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,protect+ ,am]ica's
 ,prop]ty ,rights ,act4  #b4 ,fannie    
,mae *>t] am5dm5ts  7a7 ,pur*ase & sale 
( conv5tional mortgages ,section        
#cjb7;b77#b7 ( ! ,f$]al ,national       
,mortgage ,association ,*>t] ,act 7#ab  
,u4,s4,c4 #agag7;b77#b77 is am5d$ by    
ins]t+ ,no su* pur*ase ( a conv5tional  
mortgage secur$ by a prop]ty compris+   
"o- to f\r-family dwell+ units %all be  
made unless ! mortgage is secur$ by real
 prop]ty & ! priority ( ! li5 ( !       
mortgage is insur$ by a title insurance 
company lic5s$ & au?oriz$ to d bus9ess 9
 ! ,/ate1 t]ritory1 or di/rict 9 :i* !  

prop]ty secur+ ! mortgage is locat$4    
aft] ! fir/ s5t5ce4  7b7 ,approval ( new
 activities & risk ,section #cjb7;b77#f7
 ( ! ,f$]al ,national ,mortgage         
,association ,*>t] ,act 7#ab ,u4,s4,c4  
#agag7;b77#f77 is am5d$ to read z       
foll[s3  7#f7 ,prior approval (         
,director & ,secret>y = new programs    
7,a7 ,9 g5]al ,! corporation may n      
implem5t any new program1 activity1     
product1 or type ( risk unless !        
corporation fir/ obta9s ! approval ( !  
,director ( ! ,f$]al ,h\s+ ,f9ance      
,ag5cy & ! ,secret>y ( ! ,treasury4     
7,b7 ,he>+s ,! ,director ( ! ,f$]al     
,h\s+ ,f9ance ,ag5cy %all appe> be=e !  
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate & ! ,committee on   
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives on a semi-annual basis  
reg>d+ any new program1 activity1       
product1 or type ( risk approv$ "u      
subp>agraph 7,a74  4  7c7 ,second>y     
m>ket op]ations ,section #cjd7;a7 ( !   
,f$]al ,national ,mortgage ,association 

,*>t] ,act 7#ab ,u4,s4,c4 #agai7;a77 is 
am5d$--  7#a7 9 p>agraph 7#a71 9 ! fir/ 
s5t5ce1 by ins]t+ & = :i* ! priority ( !
 li5 ( ! mortgage is insur$ by a title  
insurance companies lic5s$ & au?oriz$ to
 d bus9ess 9 ! ,/ate1 t]ritory1 or      
di/rict 9 :i* ! prop]ty secur+ !        
mortgage is locat$ be=e ! p]iod at !    
end2 &  7#b7 9 p>agraph 7#b71 9 ! second
 s5t5ce1 by /rik+ or 7,b7 to orig9ate   
mortgage loans & ins]t+ 7,b7 to orig9ate
 mortgage loans2 or 7,c7 to pur*ase     
mortgages = :i* ! priority ( ! li5 ( !  
mortgage is insur$ by a title insurance 
company lic5s$ & au?oriz$ to d bus9ess 9
 ! ,/ate1 t]ritory1 or di/rict 9 :i* !  
prop]ty secur+ ! mortgage is locat$4    
#c4 ,fr$die ,mac *>t] am5dm5ts  7a7     
,pur*ase & sale ( conv5tional mortgages 
,section #cje7;a77#b7 ( ! ,f$]al ,home  
,loan ,corporation ,act 7#ab ,u4,s4,c4  
#aded7;a77#b77 is am5d$ by ins]t+ ,!    
,corporation may n pur*ase a conv5tional
 mortgage secur$ by a prop]ty compris+  
"o- to f\r-family dwell+ units unless ! 

mortgage is secur$ by real prop]ty & !  
priority ( ! li5 ( ! mortgage is insur$ 
by a title insurance company lic5s$ &   
au?oriz$ to d bus9ess 9 ! ,/ate 9 :i* ! 
prop]ty secur+ ! mortgage is locat$4    
aft] ! second s5t5ce4  7b7 ,approval (  
new activities & risk ,section #cje7;c7 
( ! ,f$]al ,home ,loan ,corporation ,act
 7#ab ,u4,s4,c4 #aded7;c77 is am5d$ to  
read z foll[s3  7c7 ,prior approval (   
,director & ,secret>y = new programs    
7#a7 ,9 g5]al ,! ,corporation may n     
implem5t any new program1 activity1     
product1 or type ( risk unless !        
,corporation fir/ obta9s ! approval ( ! 
,director ( ! ,f$]al ,h\s+ ,f9ance      
,ag5cy & ! ,secret>y ( ! ,treasury4     
7#b7 ,he>+s ,! ,director ( ! ,f$]al     
,h\s+ ,f9ance ,ag5cy %all appe> be=e !  
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate & ! ,committee on   
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives on a semi-annual basis  
reg>d+ any new program1 activity1       
product1 or type ( risk approv$ "u      

p>agraph 7#a74  4  7c7 ,second>y m>ket  
op]ations ,section #cje7;a7 ( ! ,f$]al  
,home ,loan ,corporation ,act 7#ab      
,u4,s4,c4 #aded7;a77 is am5d$-- 7#a7 9  
p>agraph 7#a71 9 ! fir/ s5t5ce1 by      
ins]t+ = :i* ! priority ( ! li5 ( !     
mortgage is insur$ by a title insurance 
companies lic5s$ & au?oriz$ to d bus9ess
 9 ! ,/ate 9 :i* ! prop]ty secur+ !     
mortgage is locat$ be=e ! p]iod at !    
end2 &  7#b7 9 p>agraph 7#e71 9 ! ?ird  
s5t5ce1 by /rik+ or 7,b7 to orig9ate    
mortgage loans & ins]t+ 7,b7 to orig9ate
 mortgage loans2 or 7,c7 to pur*ase     
mortgages = :i* ! priority ( ! li5 ( !  
mortgage is insur$ by a title insurance 
company lic5s$ & au?oriz$ to d bus9ess 9
 ! ,/ate 9 :i* ! prop]ty secur+ !       
mortgage is locat$4  #d4 ,def9ition (   
con=m+ mortgage ,section #acjc7bf7 ( !  
,f$]al ,h\s+ ,ent]prises ,f9ancial      
,safety & ,s\ndness ,act ( #aiib 7#ab   
,u4,s4,c4 #dejb7bf7 is am5d$--  7#a7 by 
r$esignat+ subp>agraphs 7,a7 & 7,b7 z   
clauses 7i7 & 7ii71 respectively1 &     

adju/+ ! m>g9s accord+ly2  7#b7 by /rik+
 mortgage hav+ & ins]t+  mortgage-- 7,a7
 hav+  2  7#c7 9 subp>agraph 7,a77ii71 z
 s r$esignat$1 by /rik+ ! p]iod at ! end
 & ins]t+ 2 &2 &  7#d7 by add+ at ! end 
! foll[+3  7,b7 = :i* ! priority ( ! li5
 ( ! mortgage is insur$ by a title      
insurance company lic5s$ & au?oriz$ to d
 bus9ess 9 ! ,/ate 9 :i* ! prop]ty      
secur+ ! mortgage is locat$4  4