Mortgage Insurance Freedom Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5508 Introduced in House (IH)] <DOC> 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 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