; (2) the terms Federal agency lender , improved real estate , and regulated lending institution have the meanings given those terms in section 3(a) of the Flood Disaster Protection Act of 1973 ( 42 U.S.C. 4003(a) ); and (3) the term property with a Federally backed mortgage means improved real estate or a mobile home securing a loan that was— (A) made by a regulated lending institution or Federal agency lender; or (B) purchased by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation. (b) Study The Comptroller General of the United States shall conduct a study that proposes to address, through programmatic and regulatory changes, how to increase the rate at which properties in the United States are covered by flood insurance. (c) Considerations In conducting the study required under subsection (b), the Comptroller General of the United States shall— (1) consider— (A) expanding participation in the National Flood Insurance Program beyond areas having special flood hazards to areas of moderate or minimum risk with respect to flooding; (B) automatically enrolling consumers in the National Flood Insurance Program and providing those consumers with the opportunity to decline such enrollment; and (C) bundling flood insurance coverage that diversifies risk across all or multiple forms of peril; and (2) determine— (A) the percentage of properties with Federally backed mortgages located in an area having special flood hazards that are covered by flood insurance that satisfies the requirement under section 102(b) of the Flood Disaster Protection Act of 1973 ( 42 U.S.C. 4012a(b) )