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H.R. 892 · 119th Congress

Mortgage Rate Reduction Act

In committee

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Bill details

Introduced: 1/31/2025
Current status: In committee
Bill ID: 119hr892
Latest official action: Referred to the Subcommittee on Economic Opportunity.

Bill overview

A neutral overview based on official congressional sources.

Introduced in House

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.

Source: BILLSUM · Summary date: 1/31/2025

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Last updated: 1/31/2025Source: BILLSUMBill: 119hr892Learn more →