HR 4167, the Expanding Access to Lending Options Act, amends the Federal Credit Union Act to extend the maximum time federally chartered credit unions can hold mortgage loans from 15 years to 20 years (or longer by NCUA regulation). This change directly affects federally chartered credit unions by allowing them to offer longer-term mortgage products to members. The key provision modifies Section 107(5) of the Federal Credit Union Act, specifically updating the time limit for mortgage loans held by credit unions. The bill also includes a non-binding sense of Congress statement emphasizing safety and soundness in NCUA oversight, but the core policy change is the extended mortgage holding period.
This bill expands eligibility for FEMA disaster assistance by broadening the types of evidence considered proof of property ownership for survivors without formal deeds. It allows applicants to submit documents like property tax receipts, mortgage records, insurance papers, or even death certificates (in states without will requirements) to demonstrate "constructive ownership" of their home. The bill also permits a simple signed declaration under penalty of perjury - without notarization - to support claims when other evidence is insufficient. These changes apply to disaster assistance funds appropriated after the bill's enactment, directly helping individuals affected by major disasters who lack traditional ownership documentation.
HR 5708, the Federal Employees Civil Relief Act, provides temporary protections for federal workers and contractors during government shutdowns. It suspends civil proceedings like evictions, mortgage foreclosures, student loan collections, and tax payments if the worker is furloughed or working without pay. During a shutdown (and for 30 days after), courts can pause these obligations or adjust payments to prevent harm, and lenders/insurers cannot penalize workers for missed payments due to the shutdown. The law directly affects federal employees whose income is disrupted by a shutdown, ensuring housing, loan, and tax protections while maintaining their civil rights.
The Housing Financial Literacy Act of 2025 modifies mortgage insurance premiums for first-time homebuyers who complete approved financial literacy counseling programs. It requires that such counseling be completed before signing a mortgage application or sales agreement. The bill reduces the mortgage insurance premium by 25 basis points (0.25%) below the standard rate established by the Secretary of Housing and Urban Development. This change directly affects first-time homebuyers who participate in qualifying housing counseling programs.
Disaster Housing Reform for American Families Act This bill requires the Federal Emergency Management Agency (FEMA) to establish a five-year pilot program under the Individuals and Households Program (IHP) through which FEMA contracts to provide factory-built housing to serve disaster survivors until the disaster declaration terminates and then be utilized for affordable housing. It also authorizes FEMA to provide IHP grants for closing costs associated with obtaining certain mortgages. Specifically, FEMA must enter into a contract with a producer or seller of manufactured or modular homes to construct such housing as a type of temporary housing assistance under IHP. The bill requires the housing to meet specified criteria, including that it must be available within 90 days (unless extended to 120 days) after the disaster declaration, have no more than four units, and provide a minimum level of protection from natural hazards. The housing must conform to various specified standards, but the bill authorizes the Department of Housing and Urban Development to waive any such requirement for construction under the pilot program. Also, the bill requires FEMA to establish guidelines for transferring the housing to an affordable housing program after the termination of the relevant disaster declaration. However, the bill also authorizes it to become permanent housing after the declaration terminates. In addition, the bill authorizes FEMA to provide IHP grants to disaster-impacted individuals or households purchasing residential property for closing costs associated with obtaining a mortgage from a federal program providing affordable financing options.
The Affordable Homeownership Access Act exempts small property owners who provide direct financing (owner financing) from certain mortgage licensing requirements if they make no more than 24 loans per year for properties they own. It also amends federal definitions to exclude these owner financers from "mortgage originator" rules, requiring loans to be fully amortizing, have reasonable interest rate caps, and include buyer ability-to-pay assessments. The bill mandates a study by HUD and Treasury on owner financing usage - particularly for homes under $150,000 or 60% of local median value - to evaluate its potential to boost homeownership and wealth creation in underserved communities.
This bill requires federal housing agencies (like HUD and Fannie Mae) to prioritize qualified first-time homebuyers when selling single-family homes (1-4 units). For 180 days after listing, properties must be offered only to eligible buyers (individuals, nonprofits, local governments, or community land trusts) at fair market value based on recent third-party appraisals, with public online listings showing the priority window. Covered entities must report quarterly sales data, including prices relative to appraised value, and annual audits will verify compliance. Institutional investors (e.g., rental companies) cannot purchase during the priority period. The law aims to increase access to homeownership for specific groups through transparency and structured sales processes.
HR 5975, the Appraisal Modernization Act, creates a formal process for home buyers to challenge mortgage appraisals they believe are flawed or discriminatory. It requires lenders to review consumer requests for reconsideration within 60 days, providing clear procedures for submitting evidence and requiring lenders to order a new appraisal at their expense if the original report has material flaws. The bill also mandates a 240-day feasibility study by the government to assess creating a public database consolidating appraisal data from major housing agencies like FHA and VA, aiming to improve transparency in home valuation practices. This legislation directly affects homebuyers, lenders, and appraisers by establishing new accountability standards for appraisal quality and access to valuation data.
This bill establishes a program to insure second mortgages (loans taken out after the primary mortgage) for financing accessory dwelling units (ADUs) on single-family properties. The Secretary of Housing and Urban Development must create the program within two years, setting loan limits (up to 30% of a standard mortgage amount or 100% of the property's after-construction value, with potential increases based on 50% of projected rental income) and requiring borrowers to own the property and apply for insurance. It also allows Fannie Mae and Freddie Mac to purchase and securitize these insured loans, unless the Federal Housing Finance Agency determines market risks require a prohibition. The program requires the Secretary to submit annual reports to Congress on its implementation starting one year after enactment.
S 1635, the Appraisal Industry Improvement Act, requires appraisers working on mortgages insured by the Federal Housing Administration (FHA) to be certified or licensed by the state where the property is located (with exceptions for federal employees). It mandates that appraisers complete specific training on FHA requirements and meet competency standards before conducting FHA-related appraisals. The bill also creates a new "State credentialed trainee appraiser" category, allowing states to establish trainee programs, and adds a $20 annual fee for trainees on the national registry. These changes apply specifically to FHA-insured mortgages and affect appraisers, state licensing agencies, and appraisal management companies.
