United StatesMortgage Rate Reduction Act
What it does
This bill authorizes the federal guarantee, or insurance, of certain second mortgages. Specifically, this applies to properties with a first mortgage guaranteed by the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). For a second mortgage to qualify, the first mortgage on the property must be guaranteed under the same authority.
More detail
The bill also requires the publication of mortgage guarantee information by the FHA, VA, and Department of Agriculture. For each mortgage guaranteed, these agencies must publish the address of the property and the date of the loan.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Mar 5Referred to the Subcommittee on Economic Opportunity.Latest
- Jan 31Introduced in House
- Jan 31Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.Introduced