House Bill 2473 Affordable Mortgage Finance Program House Bill 2473, introduced by Yvonne Davis, requires Texas to invest the $126.2 million the State of Texas collected as part of the National Mortgage Settlement in a program that increases the supply of affordable mortgages in cities throughout Texas where the homeownership rate is below 50%. These funds—the direct result of Texas homeowners being unable to pay their mortgages and losing their homes— should be used to increase affordable homeownership opportunities. Many communities in Texas struggle because they fall far short of the national and Texas homeownership rates, including Dallas, Austin, and Houston. In Dallas, and likely several other communities, middle-income homebuyers are choosing to invest their homebuying dollars outside of the urban core—leaving behind a segregated city of the very wealthy and the very poor. Homeownership builds wealth, improves childhood outcomes, enhances neighborhoods, and provides economic benefits to the community. HB 2473 would extend these benefits to many potential homebuyers and communities in Texas by investing the settlement proceeds with the Texas Department of Savings and Mortgage Lending. The Department would use these funds to make grants available through a competitive process to organizations that: (1) have a history of providing below-market rate mortgages to low- and moderate-income buyers, (2) provide homebuyer education services, and (3) provide the homeowners post-purchase counseling and support.