,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #cbjf  ,,in ,,the ,,house ,,of  
,,representatives  ,may #f1 #bjbe,mr4   
,garbarino 7for himself and ,mr4        
,vicente ,gonzalez of ,texas7 introduced
 the following bill2 which was referred 
to the ,committee on ,financial         
,services  ,a ,,bill  ,to provide       
additional requirements for the purchase
 and sale of conventional mortgages by  
the enterprises1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,protecting ,america's     
,property ,rights ,act4  #b4 ,ensuring  
safe and sound lien and title protection
 products  7a7 ,prudential management   
,section #aajh7;a7 of the ,federal      
,housing ,enterprises ,financial ,safety
 and ,soundness ,act of #aiib 7#ab      
,u4,s4,c4 #deac;b7a77 is amended by     
inserting at the end the following3     
7#ab7 management of risk related to loss
 or damage suffered by reason of liens1 
encumbrances upon1 or defects in the    
title to such property1 or the          

invalidity or unenforceability of any   
liens or encumbrances thereon by        
utilizing third party products subject  
to regulation by-- 7,a7 a ,state        
insurance authority as defined in #ae   
section #fhji7aa7 of title #ae1 ,united 
,states ,code2 or  7,b7 a ,state        
regulator as defined in section         
#edha7bb7 of title #ab1 ,united ,states 
,code4  4  7b7 ,capital ,standards ,in  
establishing minimum capital level      
pursuant to section #dfab of title #ab1 
,united ,states ,code1 the ,director    
shall require the ,enterprises to hold  
an additional #a4jj percent of the      
unpaid principal balance of any mortgage
 purchased by the ,enterprises that does
 not meet the requirements of subsection
 7a74  7c7 ,implementation and          
,compliance ,the ,director shall1 not   
later than #ahj days after the date of  
enactment of this section1 issue such   
regulations and guidance as necessary to
 ensure compliance with subsection 7a71 
including requiring the ,enterprises to 

verify that any product meeting the     
definition in subsection 7a7 is         
appropriately regulated4  7d7           
,definitions ,for purposes of this      
section--  7#a7 the term ,enterprises   
shall have the same meaning as in       
section #dejb7aj7 of title #ab1 ,united 
,states ,code2 and  7#b7 the term       
,director shall have the same meaning as
 in section #djeb7i7 of title #ab1      
,united ,states ,code4