The VA Home Loan Navigator Act establishes a free, voluntary program to help veterans and eligible borrowers navigate VA home loan benefits. The Department of Veterans Affairs will fund independent, neutral organizations to provide education, counseling on loan processes, and assistance with issues like foreclosure prevention and understanding costs. To ensure fairness, the law strictly prohibits these service providers from receiving payments from lenders or real estate agents and requires them to remain operationally separate from any mortgage or brokerage businesses. Designated entities must meet specific criteria, including HUD approval and a primary mission of serving military families, while individual counselors must be certified and recertified every three years. The program will be monitored through regular reports to Congress evaluating borrower satisfaction and outcomes such as foreclosure prevention rates.
This bill, known as the Protecting Homeowners from Squatters Act, aims to stop people from illegally occupying homes by defining squatting as entering a property and staying there for at least 10 to 14 days without the owner's permission or payment of rent. It directs local law enforcement to quickly remove squatters and prosecute them according to local laws while prohibiting the use of federal benefits to support or encourage such behavior. The legislation also ties federal housing funds to local compliance by withholding Community Development Block Grant money from jurisdictions that allow squatting or grant special tenant rights to squatters, and it bars federal mortgage support for loans secured by properties in those non-compliant areas.
The Manufactured Housing Lending Act creates a pilot program to help expand access to loans for manufactured homes. It directs two major government-backed lenders to start buying or sharing the risk of new loans for these homes within a year of the program's launch. To qualify, the homes must be placed in nonprofit, government, or resident-owned communities with long-term or permanent site leases, and the program will include standard consumer protections. The lenders participating in this pilot will be allowed to earn a lower return on these specific loans compared to other similar lending activities.
This bill requires mortgage lenders to consider alternative credit information, such as rental payments and bank statements, when evaluating applicants who request it. It specifically targets individuals who lack a traditional credit history with major reporting agencies, a group that disproportionately includes low-income consumers, younger people, and people of color. Under the new rules, lenders must treat this permissioned data with the same weight as standard credit reports if the applicant authorizes its use and confirms it better reflects their financial standing. The legislation also mandates that underwriting systems be updated to automatically identify and include this data, while creditors must provide clear notices in eight common languages explaining the applicant's rights.
The Working Families Home Construction Act of 2026 allows Fannie Mae and Freddie Mac to buy and securitize specific construction loans designed to help build owner-occupied homes. These loans, which can cover costs like land acquisition and construction, are limited to $100,000 per unit and $2.4 million per project, and must be issued by approved lenders to builders who contribute at least 10% of the project's capital. To qualify, projects must receive local government approval and be sold to families earning between 90% and 130% of the area median income, with buyers required to live in the home for at least one year. The bill also directs that 22% of the available capital for these enterprises be allocated specifically to purchasing these qualifying construction loans.
The Sustainable Homeownership Act modifies the rules for Freddie Mac and Fannie Mae to limit their purchase of high-risk mortgages while introducing stricter insurance requirements for loans with high loan-to-value ratios. It mandates that private insurers guarantee specific portions of unpaid mortgage balances, with higher coverage percentages required for riskier loans, though it includes exceptions for refinancing, state programs, and low-income borrowers. The bill also establishes new financial oversight measures, such as setting a return on equity range between 9 and 13 percent and requiring enterprises to remit excess earnings to the Treasury if they exceed that range. Additionally, the legislation outlines a plan to eventually convert the government-sponsored enterprises' preferred stock into common equity and prepare for their exit from federal conservatorship.
This bill, known as the Home Affordability Through Mortgage Simplification Act, aims to simplify rules for mortgage lenders and reduce costs for borrowers by updating regulations under the Truth in Lending Act. It introduces a new standard that allows closing costs to vary by up to $500 or 5 percent of third-party fees without penalty, while protecting borrowers from increases in interest rates, loan types, or origination charges. The legislation also permits lenders to issue up to two revised loan estimates for minor changes and allows borrowers to waive the mandatory three-day waiting period for corrected disclosures if they choose. Additionally, it limits lender liability for errors made by settlement agents if the lender exercised reasonable oversight and provides a one-time opportunity for lenders to fix violations without facing civil penalties.
This bill creates a new type of tax-advantaged savings account called a "home savings account" designed to help individuals save for housing expenses. It allows taxpayers to deduct up to $10,000 annually from their income for cash contributions made to these accounts, with a higher limit of $20,000 for married couples filing jointly. Money withdrawn from the account is tax-free only if it is used to buy a principal residence or pay down the mortgage on that home; otherwise, the withdrawal is taxed as income and subject to a 20% penalty. The legislation also permits a one-time transfer of funds from an existing retirement plan into a new home savings account and includes specific rules for handling excess contributions, account transfers due to divorce, and inheritance after the account holder's death.
The Home Equity Lending Integrity Act updates the Truth in Lending Act to explicitly include home equity investment loans within its scope. These loans are defined as transactions where a consumer receives money in exchange for an interest in their home and an obligation to repay based on the property's value. The bill directs the Bureau of Consumer Financial Protection to create regulations ensuring these specific loans are covered under existing rules for consumer protection and penalties. Additionally, the legislation states that this change is intended to clarify the current law rather than alter how it is administered.
This bill provides funding for the Departments of Transportation, Housing and Urban Development, and related agencies for fiscal year 2027. It allocates money to support transportation infrastructure projects, including grants for highways, airports, rail systems, and transit, as well as funding for aviation safety and maritime security. The legislation also directs resources to housing programs such as tenant-based rental assistance, public housing operations, and grants for community development and homeless assistance. Additionally, the bill includes provisions for administrative expenses, cybersecurity initiatives, and specific restrictions on how funds can be used across these departments.
