Mortgage Rate Reduction Act
Introduced Jan 31, 2025 by Rep. Patrick Ryan
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
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.
Summary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.