IB 
Union Calendar No. 227 
116TH CONGRESS 
1ST SESSION H. R. 3141 
[Report No. 116–282] 
To limit the collection of annual premiums under the FHA program for 
mortgage insurance for single family housing, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 5, 2019 
Mr. PHILLIPS introduced the following bill; which was referred to the 
Committee on Financial Services 
NOVEMBER 12, 2019 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on June 5, 2019] 
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A BILL 
To limit the collection of annual premiums under the FHA 
program for mortgage insurance for single family hous-
ing, and for other purposes. 
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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 ‘‘FHA Loan Affordability 
Act of 2019’’. 
SEC. 2. ANNUAL PREMIUMS. 
(a) IN GENERAL.—Paragraph (2) of section 203(c) of 
the National Housing Act (12 U.S.C. 1709(c)(2)) is amend-
ed— 
(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 new sub-
paragraph: 
‘‘(D) 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 re-
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maining balance attributable to the premium collected 
under subparagraph (A)) is 78 percent or less than 
the lower of (i) the sales price of the dwelling 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.’’. 
(b) APPLICABILITY.—The amendments made by sub-
section (a) of this section shall apply with respect only to 
mortgages insured by the Secretary of Housing and Urban 
Development after the date of the enactment of this Act. 
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Union Calendar No. 227 
116TH CONGRESS 
1ST SESSION 
H. R. 3141 
[Report No. 116–282] 
A BILL 
To limit the collection of annual premiums under 
the FHA program for mortgage insurance for 
single family housing, and for other purposes. 
NOVEMBER 12, 2019 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Sep 11 2014 
00:37 Nov 13, 2019
Jkt 099200
PO 00000
Frm 00006
Fmt 6651
Sfmt 6651
E:\BILLS\H3141.RH
H3141
pamtmann on DSKBC07HB2PROD with BILLS