Title XI Mortgage Access and National Shipbuilding Initiative Extension Act

Title XI Mortgage Access and National Shipbuilding Initiative Extension Act - Amends title XI of the Merchant Marine Act, 1936 to require the Secretary of Transportation to establish a simplified form and process for application for Smaller Ship Shared-Risk Financing Guarantees. Sets forth certain eligibility requirements and restrictions and conditions with respect to such guarantees.

Authorizes the Secretary, acting through the Coast Guard and subject to appropriations, to provide financial assistance for research projects proposed to and selected by the U.S. Passenger Vessel Association that: (1) foster business process or design technologies to avoid or mitigate adverse environmental impacts from domestic passenger vessel operations; (2) promote cost-effective solutions to passenger and crew safety issues arising from such operations and changing technologies; and (3) propose, promote, or assess the feasibility of waterborne passenger transport in U.S. locales with existing or foreseeable nonwaterborne transport congestion.

Declares that the authority created under the National Shipbuilding and Shipyard Conversion Act of 1933 to extend the availability of title XI obligation guarantees to eligible export vessels and for U.S. shipyard modernization shall continue until terminated or otherwise modified by Congress.