Federal Loan Systems Modernization Act of 2026

This bill would create Lending.gov, a centralized online platform designed to streamline how federal agencies manage and process loans. It requires agencies administering federal credit programs to migrate their loan management systems to this shared platform within three years, with exceptions allowed for smaller loan programs. The platform would use modern commercial technology to handle applications, underwriting, and servicing, aiming to reduce costs, prevent fraud, and improve transparency for borrowers. A designated provider agency would operate the system, collect fees to cover maintenance costs, and report performance metrics to ensure agencies remain satisfied with the service.