,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #fggd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,decemb] #ag1         
#bjbe,ms4 ,wat]s introduc$ ! foll[+     
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to      
au?orize ! ,secret>y ( ,h\s+ & ,urban   
,developm5t1 act+ ?r\gh ! ,f$]al ,h\s+  
,commission]1 to e/abli% a pilot program
 to increase access to small-doll>      
mortgages1 & = o!r purposes4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,,fha   
,small-,doll> ,mortgages ,act4  #b4     
,,fha small-doll> mortgages  7a7 ,9     
g5]al ,n lat] ?an #a ye> aft] ! date ( !
 enactm5t ( ?is section1 ! ,secret>y (  
,h\s+ & ,urban ,developm5t1 act+ ?r\gh !
 ,f$]al ,h\s+ ,commission]1 may e/abli% 
a pilot program to increase access to   
small-doll> mortgages = mortgagors :i*  
may include-- 7#a7 au?oriz+ direct      
paym5ts to mortgagees to inc5tivize !   
orig9ation ( small-doll> mortgages2     
7#b7 adju/+ t]ms & co/s impos$ by !     
,f$]al ,h\s+ ,adm9i/ration ) respect to 

small-doll> mortgages2  7#c7 provid+    
direct grants = mortgagors :o obta9     
small-doll> mortgages to cov] co/s      
associat$ )--  7,a7 d[n paym5ts2  7,b7  
clos+ co/s2  7,c7 appraisals2 &  7,d7   
title insurance2  7#d7 conduct+ outrea* 
to pot5tial mortgagors ab\t !           
availability ( small-doll> mortgages2 & 
7#e7 provid+ te*nical assi/ance =       
mortgagees t orig9ate small-doll>       
mortgages4  7b7 ,report ,beg9n+ n lat]  
?an #a ye> aft] ! e/abli%m5t ( ! pilot  
program "u subsection 7a7 & end+ #a ye> 
aft] ! sunset ( ! pilot program1 !      
,f$]al ,h\s+ ,commission] %all submit to
 ! ,congress an annual report t-- 7#a7  
tracks & evaluates ! outcomes (         
small-doll> mortgages orig9at$ by       
mortgagees z a result ( support provid$ 
"u subsection 7a72  7#b7 analyzes risks 
( ! pilot program to ! solv5cy ( !      
,mutual ,mortgage ,insurance ,fund2     
7#c7 includes data ) respect to--  7,a7 
! numb] ( small-doll> mortgages orig9at$
 9 ! #aj-ye> p]iod prec$+ ! date ( !    

enactm5t ( ?is section1 includ+         
small-doll> mortgages insur$ or gu>ante$
 by ! ,f$]al ,gov]nm5t & small-doll>    
mortgages n insur$ by ! ,f$]al          
,gov]nm5t2  7,b7 ! orig9al pr9cipal     
balance ( ea* small-doll> mortgage      
id5tifi$ "u subp>agraph 7,a72  7,c7     
demographic in=mation ab\t ! mortgagors 
associat$ ) ea* su* small-doll>         
mortgage2 &  7,d7 ! numb] & type (      
mortgagees t (f] small-doll> mortgages2 
7#d7 provides a description ( ! fix$    
co/s t are associat$ ) mortgages & !    
impact ( su* co/s on ! ability ( l5d]s  
to e>n a m>ket rate return on           
small-doll> mortgages2 &  7#e7 includes 
analysis1 by regions ( ! ,unit$ ,/ates1 
includ+ rural regions1 t id5tifies      
regions ) ! greate/ ne$ =1 & ! highe/   
likelihood (1 ! orig9ation ( small-doll>
 mortgages & regions t c\ld b5efit ! mo/
 f increas$ availability ( small-doll>  
mortgages4  7c7 ,sunset ,! pilot program
 e/abli%$ "u subsection 7a7 %all t]m9ate
 on ! date t is #d ye>s aft] ! date on  

:i* ! pilot program is e/abli%$ "u      
subsection 7a74  7d7 ,expiration (      
au?ority ,aft] ! expiration ( ! #c-ye>  
p]iod beg9n+ on ! date ( enactm5t ( ?is 
section1 nei!r ! ,f$]al ,h\s+           
,commission] nor ! ,secret>y ( ,h\s+ &  
,urban ,developm5t may newly e/abli% a  
pilot program to increase access to     
small-doll> mortgages = mortgagors4  7e7
 ,small-,doll> mortgage def9$ ,! t]m    
small-doll> mortgage means a mortgage   
t--  7#a7 has an orig9al pr9cipal       
balance ( #ajj1jjj or less2 &  7#b7 is  
secur$ by a #a- to #d-unit prop]ty t is 
! pr9cipal resid5ce ( ! mortgagor4