Bill > HR3206

This bill aims to enhance property rights protection and mortgage safety by introducing new requirements for Fannie Mae and Freddie Mac (referred to as "Enterprises" in the bill). Specifically, the bill requires these government-sponsored mortgage enterprises to manage risks related to property title and lien issues by utilizing third-party products regulated by state insurance or financial authorities. When purchasing mortgages that do not meet these new regulatory requirements, the Enterprises will be required to hold an additional 1% capital reserve as a safety measure. The bill mandates that the Director of the Federal Housing Finance Agency (FHFA) issue regulations within 180 days to ensure compliance, including verification that any risk management products are appropriately regulated by state authorities. By imposing these new standards, the bill seeks to improve the safety and soundness of mortgage lending practices and provide better protection for property owners and investors against potential title or lien-related losses.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3206/all-info