,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #ggee  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #c1 #bjbf,mr4    
,b>rett introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to direct !       
,secret>y ( ,h\s+ & ,urban ,developm5t  
to submit a report to ! ,congress )     
respect to exempt+ any d[npaym5t        
requirem5t = mortgage insurance (f]$ by 
! ,f$]al ,h\s+ ,adm9i/ration = fir/-"t  
homebuy]s :o are fir/ respond]s or s*ool
 tea*]s1 & = o!r purposes4  #a4 ,%ort   
title ,?is ,act may be cit$ z ! ,h\s+ = 
,our ,homet[n ,h]oes ,act4  #b4 ,report 
on z]o-d[npaym5t = ,,fha mortgage       
insurance  7a7 ,9 g5]al ,n lat] ?an #ahj
 days aft] ! date ( ! enactm5t ( ?is    
section1 ! ,secret>y ( ,h\s+ & ,urban   
,developm5t1 act+ ?r\gh ! ,assi/ance    
,secret>y = ,h\s+ & ,f$]al ,h\s+        
,commission]1 %all submit to ! ,congress
 a report t describes ! feasability ( a 
program t exempts fir/-"t homebuy]s :o  
are fir/ respond]s or s*ool tea*]s f any

 ca% inve/m5t requir$ z describ$ 9      
section #bjc7;b77#i7 ( ! ,national ,h\s+
 ,act 7#ab ,u4,s4,c4 #agji7;b77#i77 =   
mortgage insurance "u su* ,act1         
includ+-- 7#a7 ! b5efits & detrim5ts (  
su* a program2  7#b7 ! co/ ( su* a      
program & impact on ! mutual mortgage   
insurance fund2  7#c7 h[ su* a program c
 rema9 solv5t us+-- 7,a7 upfront fees2  
or  7,b7 a comb9ation ( upfront & annual
 fees2  7#d7 an analysis on h[ su* a    
program w\ld affect ! ability ( fir/    
respond]s or s*ool tea*]s to buy a h\se2
  7#e7 an analysis ( ! expect$ premiums 
t w\ld be ne$$ = ! program to h a       
negative cr$it subsidy rate2 &  7#f7 9 !
 case t ! ,secret>y det]m9es t su* a    
program is n feasible1 recomm5dations t 
describe simil> solutions or alt]native 
program designs to support fir/-"t      
homebuy]s t are fir/ respond]s or s*ool 
tea*]s4  7b7 ,,va consultation ,!       
,secret>y ( ,h\s+ & ,urban ,developm5t  
%all consult ) ! ,secret>y ( ,vet]ans   
,affairs ) respect to ! report requir$  

"u subsection 7a71 includ+ :e!r elem5ts 
( ! ,,va ,home ,loan ,program c\ld be   
incorporat$ into ! program describ$ 9   
subsection 7a74  7c7 ,def9itions ,9 ?is 
section3 7#a7 ,fir/ respond] ,! t]m fir/
 respond] means an individual :o is--   
7,a7 7i7 employ$ full-"t by a law       
en=cem5t ag5cy ( ! ,f$]al ,gov]nm5t1 a  
,/ate1 a ,tribal gov]nm5t1 or a unit (  
g5]al local gov]nm5t2 &  7ii7 9 c>ry+   
out su* full-"t employm5t1 sworn to     
uphold1 & make arre/s = violations (1   
,f$]al1 ,/ate1 c\nty1 t[n%ip1 municipal1
 or ,tribal laws1 or au?oriz$ by law to 
sup]vise s5t5c$ crim9al (f5d]s or       
individuals ) p5d+ crim9al *>ges2 or    
7,b7 employ$ full-"t z a firefight]1    
p>am$ic1 or em]g5cy m$ical te*nician by 
a fire dep>tm5t or em]g5cy m$ical       
s]vices respond] unit ( ! ,f$]al        
,gov]nm5t1 a ,/ate1 a ,tribal gov]nm5t1 
or a unit ( g5]al local gov]nm5t4  7#b7 
,s*ool tea*] ,! t]m s*ool tea*] means an
 individual :o is employ$ z a full-"t   
tea*] by a ,/ate-accr$it$ s*ool t       

provides direct s]vices to /ud5ts 9     
grades pre-k9d]g>t5 ?r\gh #ab4