Protecting America's Property Rights Act

HR 5837, the Protecting America's Property Rights Act, requires Fannie Mae and Freddie Mac to only purchase conventional mortgages for one- to four-family homes if the mortgage is secured by real property with title insurance from a licensed company in the property's state. It also mandates that both entities must get prior approval from the Federal Housing Finance Agency Director and Treasury Secretary before launching new programs, with semi-annual congressional reports on these programs. The bill updates the definition of "conforming mortgage" to include this title insurance requirement. These changes directly affect Fannie Mae and Freddie Mac's mortgage operations and indirectly impact homeowners, lenders, and title insurance companies operating in the states where properties are located.