,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #defh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #ba1 #bjbe,mr4  
,licc>do 7= himself1 ,mr4 ,g>b>9o1 ,mr4 
,cleav]1 ,mr4 ,%]man1 ,mr4 ,?ompson (   
,cali=nia1 ,mr4 ,ruiz1 ,mr4 ,soto1 ,mr4 
,pet]s1 ,mr4 ,g>am5di1 ,mr4 ,swalwell1  
,ms4 ,mc,bride1 ,ms4 ,goodl&]1 ,mr4     
,fields1 ,ms4 ,elfre?1 ,mr4 ,gray1 ,mr4 
,cisn]os1 ,mr4 ,/anton1 ,mr4 ,h>d] (    
,cali=nia1 ,mr4 ,meeks1 ,ms4 ,ans>i1    
,mr4 ,fo/]1 & ,mr4 ,co/a7 introduc$ !   
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,to am5d ! ,national ,h\s+ ,act 
to direct ! ,secret>y ( ,h\s+ & ,urban  
,developm5t to e/abli% a program to     
insure c]ta9 second li5s secur$ aga9/   
prop]ty = ! purpose ( f9anc+ !          
con/ruction ( an accessory dwell+ unit1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,support+ ,upgrad$ 
,prop]ty ,projects & ,l5d+ = ,y>ds      
7,,supply7 ,act4  #b4 ,insurance )      
respect to ! f9anc+ ( ! con/ruction (   

accessory dwell+ units ,title ,,ii ( !  
,national ,h\s+ ,act 7#ab ,u4,s4,c4     
#agjg et seq47 is am5d$ by add+ at ! end
 ! foll[+3  #bei4 ,accessory dwell+ unit
 con/ruction insurance  7a7 ,9 g5]al ,n 
lat] ?an #b ye>s aft] ! date ( !        
enactm5t ( ?is section1 ! ,secret>y %all
 e/abli% a program to insure1 9 !       
discretion ( ! ,secret>y & "u su* t]ms &
 conditions z ! ,secret>y may prescribe1
 c]ta9 second li5s t are secur$ aga9/   
prop]ties = ! purpose ( f9anc+ !        
con/ruction ( accessory dwell+ units4   
7b7 ,maximum loan am\nt  7#a7 ,9 g5]al  
,except z describ$ 9 p>agraph 7#b71 !   
,secret>y may only insure a second li5  
"u ?is section t has a pr9cipal         
obligation 9 an am\nt t is ! less] (--  
7,a7 #cj p]c5t ( ! doll> am\nt det]m9$  
"u section #bjc7;b77#b77;,a7 ) respect  
to a "o-unit resid5ce2 or  7,b7 :5      
comb9$ ) any out/&+ am\nts ow$ on any   
o!r loans secur$ by a li5 aga9/ ! same  
prop]ty z ! second li51 #ajj p]c5t ( !  
project$ value ( ! prop]ty aft] !       

con/ruction ( ! accessory dwell+ unit1 z
 det]m9$ by ! ,secret>y4  7#b7 ,r5tal   
income ,! ,secret>y may increase ! am\nt
 describ$ 9 p>agraph 7#a7 bas$ on #ej   
p]c5t ( any project$ r5tal income       
expect$ annually f an accessory dwell+  
unit to be f9anc$ us+ ! second li5 to be
 insur$ "u ?is section4  7c7            
,application ,! borr[] seek+ insurance =
 a second li5 "u ?is section %all submit
 an application = insurance at su* "t1 9
 su* mann]1 & conta9+ su* in=mation z ! 
,secret>y may require1 includ+ a        
c]tification t ! borr[] is ! own] ( !   
prop]ty on :i* an accessory dwell+ unit 
is to be con/ruct$4  7d7 ,premium ,!    
,secret>y %all fix a premium *>ge =     
insurance provid$ "u ?is section 9 an   
am\nt t may n exce$1 = ea* ye>1 #a p]c5t
 ( ! pr9cipal am\nt insur$ "u ?is       
section4  7e7 ,report ,beg9n+ on ! date 
t is #a ye> aft] ! date ( ! enactm5t (  
?is section1 & annually !reaft]1 !      
,secret>y %all submit to ! ,congress a  
report t describes ! activities c>ri$   

out "u ?is section4  7f7 ,rulemak+ ,!   
,secret>y may issue su* rules z !       
,secret>y det]m9es appropriate to c>ry  
out ?is section4  7g7 ,accessory dwell+ 
unit def9$ ,9 ?is section1 ! t]m        
accessory dwell+ unit means a dwell+    
unit :i*--  7#a7 is a-- 7,a7 modul> or  
prefabricat$ unit con/ruct$ to at lea/  
#a ( ! #c mo/ rec5t editions ( a        
cons5sus-bas$ build+ code adopt$ by !   
,/ate1 local jurisdiction1 t]ritory1 or 
tribal entity2  7,b7 manufactur$ unit 7z
 su* t]m is def9$ 9 section #ajb ( !    
,h\s+ & ,community ,developm5t ,act (   
#aigd 7#db ,u4,s4,c4 #edjb772 or  7,c7  
conv]sion ( an exi/+ /ructure on a      
prop]ty2  7#b7 includes kit*51 sleep+1 &
 ba?room facilities2 &  7#c7 is add$ to1
 creat$ )91 or deta*$ f a s+le-family   
dwell+ on a s+le prop]ty4  4  #c4       
,pur*ase & securitization ( insur$ loans
 = ! con/ruction ( accessory dwell+     
units  7a7 ,9 g5]al ,except z provid$ 9 
subsection 7b71 ! ,director ( ! ,f$]al  
,h\s+ ,f9ance ,ag5cy 7h]eaft] ref]r$ to 

z ! ,director7 %all p]mit ! ,f$]al      
,national ,mortgage ,association & !    
,f$]al ,home ,loan ,mortgage            
,corporation to pur*ase & securitize    
loans t are insur$ "u section #bei ( !  
,national ,h\s+ ,act4  7b7 ,exception ,!
 ,director may prohibit ! pur*ase &     
securitization ( loans t are insur$ "u  
section #bei ( ! ,national ,h\s+ ,act-- 
7#a7 if !re are m>ket pressures :i* w\ld
 pose an excessive & unmitigable risk to
 ! l5d+ m>ket = su* loans1 z det]m9$ by 
! ,director2 &  7#b7 beg9n+ on ! date t 
! ,director submits to ! ,congress a    
writt5 notice ) respect to su*          
prohibition4  7c7 ,report ,! ,director  
%all include 9 ! annual report requir$  
"u section #acai;,b7a7 ( ! ,f$]al ,h\s+ 
,ent]prises ,f9ancial ,safety &         
,s\ndness ,act ( #aiib 7#ab ,u4,s4,c4   
#deba7;a77 in=mation ) respect to !     
pur*ase & securitization ( loans t are  
insur$ "u section #bei ( ! ,national    
,h\s+ ,act4