Mortgage Rate Reduction Act

Sponsored byRep. Ryan, Patrick [D-NY-18]NY· Introduced 31 January 2025

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Referred to the Subcommittee on Economic Opportunity.

5 March 2025·1 year ago

Summary

Introduced in House · Updated 3 June 2025

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.

Timeline

5 actions

Referred to the Subcommittee on Economic Opportunity.
5 March 2025 · Committee
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.
31 January 2025 · IntroReferral
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.
31 January 2025 · IntroReferral
Introduced in House
31 January 2025 · IntroReferral
Introduced in House
31 January 2025 · IntroReferral

Sponsorship

0 cosponsors

Sponsor

Rep. Ryan, Patrick [D-NY-18]NY

Classification

Policy area

Finance and Financial Sector

Track Mortgage Rate Reduction Act as it moves through Congress