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Mortgage Rate Reduction Act 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. 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.
Introduced
Jan 31, 2025
Last Action
Mar 5, 2025
Session
119th Congress
Sponsors
1 primary · 0 co
Passage Probability
2% — Very Low
Referred to the Subcommittee on Economic Opportunity.
Introduced in House
Referred 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.
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
2%
Estimate based on legislative signals
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Upgrade to ProReferred to the Subcommittee on Economic Opportunity.