An amendment numbered 14 printed in House Report 111-98 to require Fannie Mae and Freddie Mac to take into account factors such as the health of the local or regional housing market and other factors when determining fee schedules, occupancy and pre-sale guidelines for condominium and cooperative housing mortgages.

1. Adds TITLE VIII--FANNIE MAE GUIDELINES FOR PURCHASE OF CONDOMINIUM AND COOPERATIVE HOUSING MORTGAGES at the end of the bill

   Adds a title

   Inserted: TITLE VIII--FANNIE MAE GUIDELINES FOR PURCHASE OF CONDOMINIUM AND COOPERATIVE HOUSING MORTGAGES

   Inserted: SEC. 801. GUIDELINES FOR PURCHASE OF CONDOMINIUM AND COOPERATIVE HOUSING MORTGAGES.

   Inserted: The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall take actions as are appropriate to establish and revise fee schedules, occupancy and pre-sale guidelines, and other relevant underwriting standards in order to ensure the availability of affordable mortgage credit for condominium and cooperative housing, consistent with appropriate levels of credit risk. In setting such fees, guidelines, and standards, each association may consider factors such as the relative health of the local or regional housing market in which such housing is located, and whether the housing is in a new or existing development.

   Original wording

   At the end of the bill, add the following new title:

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As printed