Earl Blumenauer: “Amendment No. 26 offered by Mr. Blumenauer: Page 93, after line 9, insert the following new section: SEC. 134.…”

“Amendment No. 26 offered by Mr. Blumenauer: Page 93, after line 9, insert the following new section: SEC. 134. CONSIDERATION OF LOCATION AND ENERGY EFFICIENCY IN ENTERPRISE UNDERWRITING GUIDELINES. (a) Fannie Mae.--Section 302(b) of the Federal National Mortgage Association Charter Act (12 U.S.C. 1717(b)) is amended by adding at the end the following new paragraph: ``(7)(A) In establishing requirements with respect to quality, type, class, and other purchase standards for mortgages on one- to four-family residences, the corporation shall-- ``(i) consider the location efficiency and energy efficiency of the residence; ``(ii) treat any savings resulting from location efficiency or energy efficiency as an equivalent reduction in recurrent monthly expenses of the mortgagor; and ``(iii) increase any limit on the amount of debt under the mortgage allowable for the mortgagor that is based on mortgagor income to account for the present value of location efficiency savings and for the present value of energy efficiency savings.”