,,ii  #aai? ,,congress  #b;d ,session   
,s4 #dhjd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ag1 #bjbf,mr4   
,m]kley 7= himself1 ,mr4 ,hick5loop]1 & 
,mr4 ,wel*7 introduc$ ! foll[+ bill2 :i*
 0 read twice & ref]r$ to ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs  ,a 
,,bill  ,to require ! ,f$]al ,national  
,mortgage ,association & ! ,f$]al ,home 
,loan ,mortgage ,corporation to ea*     
e/abli% a pilot program = p]sonal       
prop]ty manufactur$ home loan pur*ases4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,manufactur$ ,h\s+ ,l5d+ ,act4  #b4   
,e/abli%m5t ( pilot program  7a7 ,9     
g5]al ,n lat] #ah mon?s aft] ! date (   
enactm5t ( ?is ,act1 ! ,f$]al ,h\s+     
,f9ance ,ag5cy %all direct ! ,f$]al     
,national ,mortgage ,association & !    
,f$]al ,home ,loan ,mortgage            
,corporation to ea* e/abli% a pilot     
program = p]sonal prop]ty manufactur$   
home loan pur*ases4  7b7 ,pur*ases ,n   
lat] ?an #a ye> aft] ! date on :i* a    
pilot program is e/abli%$ "u subsection 

7a71 ! ,f$]al ,national ,mortgage       
,association & ! ,f$]al ,home ,loan     
,mortgage ,corporation1 z applicable1   
%all beg9 pur*as+ or o!rwise %>+        
f9ancial risk on newly orig9at$ loans or
 exi/+ portfolios ( loans4  7c7         
,requirem5ts ,! pilot programs e/abli%$ 
"u subsection 7a7 %all-- 7#a7           
incorporate ! consum] mortgage l5d+ &   
s]vic+ protections f\nd 9 p>ts #ajbd &  
#ajbf ( title #ab1 ,code ( ,f$]al       
,regulations1 to ! greate/ ext5t        
practicable2  7#b7 require f9anc$       
manufactur$ homes to-- 7,a7 be locat$ 9 
nonpr(it1 gov]nm5t1 or resid5t-own$     
manufactur$ h\s+ communities2 &  7,b7   
include a lease t]m t exce$s !          
manufactur$ h\se loan t]m or includes a 
p]petual "r to occupy ! site2  7#c7 at !
 discretion ( ! ,director ( ! ,f$]al    
,h\s+ ,f9ance ,ag5cy1 include prud5t    
risk protections & c\nt]p>ty /&>ds2 &   
7#d7 p]mit ! ,f$]al ,national ,mortgage 
,association & ! ,f$]al ,home ,loan     
,mortgage ,corporation to a*ieve a      

reasonable economic return t %all be    
less ?an ! return e>n$ on o!r comp>able 
mortgage l5d+ activities4