To restrict the eligibility of mortgagors to citizens of the United States with respect to mortgage insurance provided by the Federal Housing Administration and the purchase and securitization of mortgages by Fannie Mae and Freddie Mac.
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Summary
Based on the bill's title, this legislation would restrict mortgage insurance eligibility and mortgage purchase programs to U.S. citizens only. Specifically, it would limit Federal Housing Administration mortgage insurance, as well as mortgages purchased and securitized by government-sponsored enterprises Fannie Mae and Freddie Mac, to borrowers who are U.S. citizens. The bill was referred to the House Committee on Financial Services.
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