,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #gged  ,,in ,,the ,,house ,,of  
,,representatives  ,march #c1 #bjbf,mr4 
,barrett introduced the following bill2 
which was referred to the ,committee on 
,financial ,services  ,a ,,bill  ,to    
require a study on the feasibility and  
potential impacts of portable ,federally
 backed mortgage loans1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,take ,your ,rate   
,act of #bjbf4  #b4 ,study on mortgage  
portability  7a7 ,in general ,the       
,secretary of ,housing and ,urban       
,development and the ,director of the   
,federal ,housing ,finance ,agency shall
 jointly conduct a study on the         
feasibility and potential impacts of    
mortgage loan portability for ,federally
 backed mortgage loans4  7b7 ,required  
considerations ,the study required under
 subsection 7a7 shall include an        
analysis of-- 7#a7 administrative and   
operational feasibility2  7#b7 the      
effect on the housing market if         

,federally backed mortgage loans were   
portable2  7#c7 any changes to          
rulemaking and regulations at the       
,department of ,housing and ,urban      
,development and the ,federal ,housing  
,finance ,agency to allow such mortgages
 to become portable2  7#d7 how many     
current borrowers would benefit from    
such portable mortgages2  7#e7 the      
budgetary impact that such portable     
mortgages would have on the ,federal    
,government2  7#f7 the financial safety 
and soundness implications for federally
 backed mortgage programs and the       
,federal ,national ,mortgage            
,association and the ,federal ,home     
,loan ,mortgage ,corporation if such    
mortgages were portable2  7#g7 any      
statutory changes needed1 if any2  7#h7 
recommendations on whether a limited    
demonstration program would be          
beneficial and how it should be         
administered2  7#i7 any other           
information the ,secretary of ,housing  
and ,urban ,development and the         

,director of the ,federal ,housing      
,finance ,agency finds important to     
include2 and  7#aj7 if the ,secretary   
and ,director determines that it is not 
feasible1 recommendations regarding     
similar solutions or alternative program
 designs that could be administered to  
provide relief on the housing market4   
7c7 ,consultation ,the ,secretary of    
,housing and ,urban ,development and the
 ,director of the ,federal ,housing     
,finance ,agency may consult with the   
following entities if it would be       
beneficial for the study and report3    
7#a7 ,the ,federal ,national ,mortgage  
,association4  7#b7 ,the ,federal ,home 
,loan ,mortgage ,corporation4  7#c7 ,the
 ,federal ,housing ,administration4     
7#d7 ,the ,department of ,veterans      
,affairs4  7#e7 ,the ,department of     
,agriculture4  7#f7 ,mortgage lenders   
and servicers4  7#g7 ,any other ,federal
 agencies1 departments1 or outside      
industries that it sees as beneficial4  
7d7 ,federally backed mortgage loan     

defined ,in this ,act1 ,the term        
,federally backed mortgage loan means   
any loan 7other than temporary financing
 such as a construction loan7 that--    
7#a7 is secured by a first or           
subordinate lien on residential real    
property 7including individual units of 
condominiums and cooperatives7 designed 
principally for the occupancy of #a to  
#d families1 including any such secured 
loan1 the proceeds of which are used to 
prepay or pay off an existing loan      
secured by the same property2 and  7#b7 
is made in whole or in part1 or insured1
 guaranteed1 supplemented1 or assisted  
in any way1 by any officer or agency of 
the ,federal ,government or under or in 
connection with a housing or urban      
development program administered by the 
,secretary of ,housing and ,urban       
,development or a housing or related    
program administered by any other such  
officer or agency1 or is purchased or   
securitized by the ,federal ,home ,loan 
,mortgage ,corporation or the ,federal  

,national ,mortgage ,association4  #c4  
,report to ,congress ,not later than    
#ahj days after the date of enactment of
 this ,act1 the ,secretary and the      
,director shall submit to the ,committee
 on ,financial ,services of the ,house  
of ,representatives and the ,committee  
on ,banking1 ,housing1 and ,urban       
,affairs of the ,senate a joint report  
containing-- 7#a7 the findings of the   
study required under section #b2  7#b7  
policy recommendations1 if any2  7#c7 an
 assessment of risks and benefits to    
taxpayers and financial markets2 and    
7#d7 any dissenting views from either   
agency4