HR 5508 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Mortgage Insurance Freedom Act
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.
Summary
This bill amends the National Housing Act to restrict the collection of annual mortgage insurance premiums on federally insured mortgages once a borrower's loan balance reaches 78 percent or less of the original home value or purchase price. The bill requires the Department of Housing and Urban Development to establish a process for borrowers to demonstrate they have reached this threshold and to conduct outreach informing borrowers about this restriction. The restriction does not apply if the Mutual Mortgage Insurance Fund's capital ratio falls below 2 percent.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
4 cosponsors
Actions (2)
- Sep 19, 2025 Referred to the House Committee on Financial Services. · house
- Sep 19, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
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 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 “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. 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 addition” 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 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.
“(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 respect the Secretary was collecting premiums on the date on which the capital ratio of the Mutual Mortgage Insurance Fund fell below 2 percent; and
“(II) clause (i) shall continue to apply to any mortgage with respect to which the Secretary had stopped collecting premiums under this paragraph before the date on which the capital ratio of the Mutual Mortgage Insurance Fund fell below 2 percent because the remaining insured principal balance met the requirements described in clause (i).
“(iii) Rulemaking.—The Secretary shall, not later than 180 days after the enactment of this subparagraph, issue such rules to carry out this subparagraph and such rules shall include a process for mortgagors 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 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.
“(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
“(II) and the processes the mortgagor may 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— “(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 subsection (a) shall apply with respect only to mortgages endorsed for insurance by the Secretary of Housing and Urban Development after the date of the enactment of this Act. <all>
Comments