I 
119TH CONGRESS 
1ST SESSION H. R. 5508 
To amend the National Housing Act to restrict the collection of annual 
mortgage insurance premiums when a 78 percent loan-to value ratio 
is reached, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 19, 2025 
Mr. MEEKS (for himself and Mr. SESSIONS) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To amend the National Housing Act to restrict the collection 
of annual mortgage insurance premiums when a 78 per-
cent loan-to value ratio is reached, and for other pur-
poses. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Mortgage Insurance 
Freedom Act’’. 
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SEC. 2. RESTRICTION OF COLLECTION OF ANNUAL MORT-
GAGE INSURANCE PREMIUMS. 
(a) IN GENERAL.—Section 203(c)(2) of the National 
Housing Act (12 U.S.C. 1709(c)(2)) is amended— 
(1) in subparagraph (B)— 
(A) in clause (i), by striking ‘‘For any’’ 
and inserting ‘‘Subject to subparagraph (D), 
for any’’; and 
(B) in clause (ii), by striking ‘‘For any’’ 
and inserting ‘‘Subject to subparagraph (D), 
for any’’; 
(2) in subparagraph (C)(i), by striking ‘‘In ad-
dition’’ and inserting ‘‘Subject to subparagraph (D), 
in addition’’; and 
(3) by adding at the end the following: 
‘‘(D) RESTRICTION ON ANNUAL PREMIUM 
COLLECTION.— 
‘‘(i) IN
GENERAL.—The Secretary 
may not collect any annual premiums 
under this paragraph with respect to a 
mortgage at any time that the remaining 
insured principal balance (excluding the 
portion of the remaining balance attrib-
utable to the premium collected under sub-
paragraph (A)) is 78 percent or less than 
the lower of— 
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‘‘(I) the sales price of the dwell-
ing at the sale in connection with 
which the mortgage was made; or 
‘‘(II) the appraised value of the 
dwelling at the time of the origination 
of the mortgage. 
‘‘(ii) EXCEPTION.—If the capital ratio 
of the Mutual Mortgage Insurance Fund 
falls below 2 percent— 
‘‘(I) clause (i) shall not apply 
with respect to any mortgage with re-
spect the Secretary was collecting pre-
miums on the date on which the cap-
ital ratio of the Mutual Mortgage In-
surance Fund fell below 2 percent; 
and 
‘‘(II) clause (i) shall continue to 
apply to any mortgage with respect to 
which the Secretary had stopped col-
lecting premiums under this para-
graph before the date on which the 
capital ratio of the Mutual Mortgage 
Insurance Fund fell below 2 percent 
because the remaining insured prin-
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cipal balance met the requirements 
described in clause (i). 
‘‘(iii) RULEMAKING.—The Secretary 
shall, not later than 180 days after the en-
actment of this subparagraph, issue such 
rules to carry out this subparagraph and 
such rules shall include a process for mort-
gagors of mortgages insured under this 
title to use to demonstrate to the Secretary 
that the insured principal balance of the 
mortgage of such mortgagor is 78 percent 
or less than the lower of— 
‘‘(I) the sales price of the dwell-
ing at the sale in connection with 
which the mortgage was made; or 
‘‘(II) the appraised value of the 
dwelling at the time of the origination 
of the mortgage. 
‘‘(iv) OUTREACH AND EDUCATION.— 
The Secretary shall conduct outreach and 
educational activities to inform mortgagors 
of mortgages insured under this title 
about— 
‘‘(I) the restriction on premium 
collection imposed by clause (i); and 
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‘‘(II) and the processes the mort-
gagor may use to demonstrate to the 
Secretary that the insured principal 
balance of the mortgage of such mort-
gagor is 78 percent or less than the 
lower of— 
‘‘(bb) the sales price of the 
dwelling at the sale in connection 
with which the mortgage was 
made; or 
‘‘(cc) the appraised value of 
the dwelling at the time of the 
origination of the mortgage.’’. 
(b) APPLICABILITY.—The amendments made by sub-
section (a) shall apply with respect only to mortgages en-
dorsed for insurance by the Secretary of Housing and 
Urban Development after the date of the enactment of this 
Act. 
Æ 
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