Homeownership Eligibility Reform Act

This Act may be cited as the Homeownership Eligibility Reform Act.
Section 203(b)(8) of the National Housing Act (12 U.S.C. 1709(b)(8)) is amended to read as follows:
Is executed by a mortgagor who is a citizen of the United States.
Section 302 of the Federal National Mortgage Association Charter Act (12 U.S.C. 1717) is amended in subsection (b)(2), by inserting after the second sentence the following: No such purchase of a conventional mortgage secured by a property comprising one- to four-family dwelling unit shall be made if the mortgagor is not a citizen of the United States..
Section 305 of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454) is amended in subsection (a)(2) by inserting after the first sentence the following: No such purchase of a conventional mortgage secured by a property comprising one- to four-family dwelling unit shall be made if the mortgagor is not a citizen of the United States..