Standard lease

(a) In general The Director shall, in consultation with the enterprises, develop a standard site-lease agreement that the enterprises will certify provides sufficient certainty to ensure that the mortgage loans secured by homes in manufactured home communities utilizing the standard lease will be eligible for purchase under the single-family mortgage programs of the enterprises. (b) Submission to Congress Not later than 1 year after the date of enactment of this Act, the Director shall submit to the Committee on Banking, Housing, and Urban Affairs and the Committee on Financial Services of the House of Representatives a copy of the standard site-lease agreement developed under subsection (a).