‘‘(V) is the head of household in a 
household that includes one or more de-
pendents, at least one of whom is at the 
time of the execution of the mortgage 5 
years of age or younger or is enrolled full- 
time in a school in a resort county. 
‘‘(iv) CONFORMING
LOAN.—The original 
principal obligation of the mortgage shall com-
ply with the applicable dollar amount limita-
tions established pursuant to paragraph (2). 
‘‘(C) RESORT COUNTY.—For purposes of this 
paragraph, the term ‘resort county’ means Eagle 
County, Grand County, and Summit County, in the 
State of Colorado.’’. 
SEC. 3. DUTY OF FANNIE MAE AND FREDDIE MAC TO SERVE 
MARKET 
FOR 
AFFORDABLE 
WORKFORCE 
HOUSING. 
(a) ESTABLISHMENT.—Paragraph (1) of section 
1335(a) of the Housing and Community Development Act 
of 1992 (12 U.S.C. 4565(a)(1)) is amended by adding at 
the end the following new subparagraph: 
‘‘(D) AFFORDABLE
WORKFORCE
HOUS-
ING.—The enterprises shall develop loan prod-
ucts and flexible underwriting guidelines to fa-
cilitate a secondary market for affordable work-
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force housing mortgages (as such term is de-
fined in section 305(a)(6) of the Federal Home 
Loan Mortgage Corporation Act (12 U.S.C. 
1454(a)(6))). Such underwriting guidelines 
shall include the following considerations: 
‘‘(i) 
OWNER-OCCUPANCY
REQUIRE-
MENT.—The guidelines shall require that 
not less than 25 percent of the dwelling 
units in the multifamily housing develop-
ment in which the one-family residence se-
curing an affordable workforce housing 
mortgage is located shall be owner-occu-
pied. The requirement under this clause 
shall be considered to be complied with, 
with respect to a development, unless 
verifiable public records indicate an owner- 
occupancy rate for the development of less 
than 25 percent. 
‘‘(ii) 
SHORT-TERM
RENTALS.—The 
guidelines shall provide that the multi-
family housing development in which the 
one-family residence securing an affordable 
workforce housing mortgage is located may 
include dwelling units that are used for the 
sole purpose of short-term rentals. 
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‘‘(iii) 
AMENITIES.—The 
guidelines 
shall provide that the multifamily housing 
development in which the one-family resi-
dence securing an affordable workforce 
housing mortgage is located may provide 
such services as a staffed front desk, a 
concierge, or other amenities consistent 
with providing customer service for non- 
owner occupied or short-term rental units 
in the development, including marketing 
that describes the property as a lodge, re-
sort, or other similar facility. 
‘‘(iv) 
ENERGY
METERING.—The 
guidelines shall provide that the enter-
prises may not consider whether the multi-
family housing development in which the 
one-family residence securing an affordable 
workforce housing mortgage is located pro-
vides individual or centralized metering for 
energy use of the constituent dwelling 
units.’’. 
(b) TRANSITION.—The amendment made by sub-
section (a) shall apply with respect to the first calendar 
year beginning more than 180 days after the date of the 
enactment of this Act. 
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(c) REGULATIONS.—The Director of the Federal 
Housing Finance Agency shall, not later than the expira-
tion of the 180-day period beginning on the date of the 
enactment of this Act, amend and revise the regulations 
issued under section 1335(d)(1) of the Housing and Com-
munity Development Act of 1992 as necessary to establish 
a manner for evaluating whether, and the extent to which, 
the enterprises have complied with the duty under section 
1335(a)(1)(D) of such Act (as added by subsection (a) of 
this section) and for rating the extent of such compliance. 
Æ 
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