1. Short title This Act may be cited as the Taxpayer Protections and Market Access for Mortgage Finance Act of 2017 . 2. Credit risk-transfer transactions (a) Requirement for enterprises Subpart A of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4541 et seq.) is amended by adding at the end the following new section: 1328. Enterprise credit risk-transfer transactions (a) Requirement Not later than 12 months after the date of enactment of this Act, the Director shall, after taking into consideration market conditions and the safety and soundness of the enterprises, establish guidelines requiring that each enterprise engage in significant, increasing, and varied credit risk-transfer transactions, with an emphasis on front-end transactions. (b) Considerations In establishing the guidelines under subsection (a), the Director shall— (1) seek to promote a deep, broad market for a variety of structures that together insulate the taxpayer from losses, minimize ongoing risks to the enterprises, remain stable through the economic cycle, maintain adequate access to the secondary market for lenders of all sizes, and promote credit for borrowers in all communities; (2) continue and seek to increase the amount of credit risk transferred to the private sector and the types of risk-transfer transactions that the enterprises engaged in each year with the goal that the risk transferred by an enterprise by all credit risk-transfer transactions shall be at least 400 basis points of risk in total, starting from the first dollar of credit loss among all the different credit risk-transfer structures; (3) continue and seek to increase front-end risk transfer transactions, including those done at the time of origination