An amendment numbered 6 printed in House Report 111-503 to direct the Secretary of the Department of Housing and Urban Development to provide mortgage insurance premium refunds to eligible borrowers of FHA insured loans, which were closed prior to December 8, 2004, but which were not endorsed until December 8, 2004 or after that date, and; (2) authorize such sums as may be necessary for such refunds.

1. Adds SEC. 16. MORTGAGE INSURANCE PREMIUM REFUNDS at the end of the bill

   Adds a section

   Inserted: SEC. 16. MORTGAGE INSURANCE PREMIUM REFUNDS.

   Inserted: (a) Authority.--The Secretary of Housing and Urban Development shall, to the extent that amounts are made available pursuant to subsection (c), provide refunds of unearned premium charges paid at the time of insurance for mortgage insurance under title II of the National Housing Act (12 U.S.C. 1707 et seq.) to or on behalf of mortgagors under mortgages described in subsection (b).

   Inserted: (b) Eligible Mortgages.--A mortgage described in this section is a mortgage on a one- to four-family dwelling that--

   Inserted: (1) was insured under title II of the National Housing Act (12 U.S.C. 1707 et seq.);

   Inserted: (2) is otherwise eligible, under the last sentence of subparagraph (A) of section 203(c)(2) of such Act (12 U.S.C. 1709(c)(2)(A)), for a refund of all unearned premium charges paid on the mortgage pursuant to such subparagraph, except that the mortgage--

   Inserted: (A) was closed before December 8, 2004; and

   Inserted: (B) was endorsed on or after such date.

   Inserted: (c) Authorization of Appropriations.--There is authorized to be appropriated for each fiscal year such sums as may be necessary to provide refunds of unearned mortgage insurance premiums pursuant to this section.

   Original wording

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

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As printed