# 119-hr-7789: Federal Loan Systems Modernization Act of 2026

119-hr-7789, Federal Loan Systems Modernization Act of 2026, is a 119th Congress bill sponsored by Rep. Finstad, Brad [R-MN-1] (R-MN); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-7789
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7789
- Congress: 119
- Title: Federal Loan Systems Modernization Act of 2026
- Status: introduced
- Introduced: 2026-03-04
- Sponsor: Rep. Finstad, Brad [R-MN-1] (R-MN)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Lending.gov** would create a centralized, government-wide platform to run Federal loan programs and modernize loan management technology. It focuses on faster origination, fraud prevention, and a single place for borrowers and agencies to manage loans. - Borrowers and families would see faster loan origination, clearer transparency, and stronger fraud controls through a unified customer experience. - Federal agencies would follow a migration plan that targets programs making more than 50 loans per year or with aggregate loans over $10,000,000. Agencies keep ownership of their data and must provide it in standardized, portable formats. - The Administrator of the General Services and the Director of the Office of Management and Budget would set standards, oversee the platform, and require a 6-month planning period to stand it up. Operations would be funded by customer agency remittance fees, capped at 0.25% of a loan's face value, with a dedicated remittance fund and mechanisms for interagency cost recovery and provider governance.

## Cosponsors (1)

- Rep. Krishnamoorthi, Raja [D-IL-8] (D-IL), 2026-03-04T00:00:00.000Z

## Provisions PRIA read

- Create a single Lending.gov portal: benefit, medium. If enacted, the bill would create a single, government-wide loan portal called Lending.gov. The Platform would use commercial loan software to streamline Federal loan programs and agency processing. After the initial Platform is set up, the Director could designate up to three more shared service p…
- Provider duties, data, and surveys: benefit, low. If enacted, the designated Provider would operate, maintain, and improve the Platform and give onboarding and technical help to agencies. The Provider must follow Federal cybersecurity and privacy rules and include auditable financial management features. Customer agencies would keep ownership and…
- New platform fees and agency payments: cost, medium. If enacted, agencies that use the Platform would have to reimburse the Provider under interagency or service agreements. The Platform could collect a remittance fee on each loan it services, set no higher than 0.25 percent of the loan face value. The fee could not be charged on direct loans to indi…
- Who must move and migration rules: mixed, medium. If enacted, the Director would publish criteria saying which loan programs must migrate to the Platform. Programs that originate or service more than 50 loans a year or more than $10,000,000 in aggregate loans would meet the rule. Migration must begin no later than two years after the Administrator…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-4669: FEMA Act of 2025
- 119-hr-137: TCJA Permanency Act
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-6976: Duty Status Reform Act
- 119-hr-2854: Neighborhood Homes Investment Act

## Sources
- [119-hr-7789 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7789)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-6976: Duty Status Reform Act](https://policyrisk.com/legislation/119-hr-6976)
- [119-hr-2854: Neighborhood Homes Investment Act](https://policyrisk.com/legislation/119-hr-2854)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7789 (as of 2026-04-21).