CONGRESS FOR VOTERS

DemocratAmendment · S.Amdt. 4357· Senate(119-SAMDT-4357)

S.Amdt. 4357

Rep. Schumer
Age: 76 years
New York
Introduced
3/5/2026
Sponsored by
Charles Schumer
Cosponsors
None
Changes bill
119-HR-6644 — 21st Century ROAD to Housing Act
  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

The purpose of SA 4357 is to introduce mortgage insurance reforms to the bill H.R. 6644. It aims to change the following:

Mutual Mortgage Insurance Fund

  • It sets a maximum capital ratio of 5.75 percent for the Mutual Mortgage Insurance Fund.
  • It requires the Secretary to evaluate and potentially adjust this percentage annually after an initial 2-year period.

FHA Mortgage Insurance

  • It changes the period for premium payments to the first 5 years of the mortgage term.
  • It specifies that the value used for calculations is the appraised value of the property as of the date the mortgage is accepted for insurance.

Private Mortgage Insurance (PMI)

  • It amends the Homeowners Protection Act of 1998 by changing the "80 percent" term to "85 percent" in paragraph (2).
  • It changes the "78 percent" term to "80 percent" in paragraph (18).