The Mortgage Insurance Freedom Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10498 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10498 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 December 18, 2024 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 percent loan-to value ratio is reached, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``The Mortgage Insurance Freedom Act''. SEC. 2. RESTRICTION OF COLLECTION OF ANNUAL MORTGAGE INSURANCE PREMIUMS. (a) In General.--Section 203(c)(2) of the National Housing Act (12 U.S.C. 1…