All Roll Calls
Yes: 396 • No: 13
HRES1299119th CongressWALLET
Providing for the concurrence by the House in the Senate amendment to H.R. 6644, with amendment.
Sponsored By: Representative Hill, J. French [R-AR-2]
Passed House
Summary
This bill would expand housing supply and modernize housing programs by combining new construction and conversion grants, repair and escrow pilots, streamlined reviews, appraisal reforms, and limits on big investors. It targets supply, affordability, and market rules to speed projects and protect renters and borrowers.
Show full summary
- Families and renters gain repair and stability tools. A whole-home repairs pilot funds repairs for low- and moderate-income owners and landlords. An escrow savings pilot covers up to 5,000 families and a new foreclosure-mitigation counseling requirement covers borrowers 30 days or more delinquent.
- Builders, local governments, and communities get faster approvals and funding to build more housing. The bill creates grant programs including at least 25 grants a year, authorizes $200 million per year for FY2027–2031 for Accelerating Home Building, and narrows environmental review timelines for many infill and small projects.
- Lenders, appraisers, and markets face modernization and controls. It raises appraisal training and registry rules, studies small-dollar mortgages under $100,000, and bars large institutional investors from buying single-family homes with civil penalties up to $1,000,000 or three times a purchase price.
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Bill Overview
Analyzed Economic Effects
26 provisions identified: 14 benefits, 3 costs, 9 mixed.
Help for past-due mortgage borrowers
If you are 30 days or more behind on a covered mortgage, you get a chance to use housing counseling. Covered loans include FHA Title II, Section 184/184A, VA, and USDA loans. For FHA-insured loans, the Mutual Mortgage Insurance Fund pays the fair‑market cost of foreclosure‑mitigation counseling when National Housing Act sections 202(a)(3) and 205(f) are met. This change applies upon enactment.
Higher FHA limits with yearly updates
FHA Title II dollar limits are higher starting July 1, 2025. The limits update every year using a construction price index from March to March and are posted in the Federal Register. Adjusted amounts round down to the next dollar. Examples of raised figures include about $38,025 to $167,310, $42,120 to $185,328, and $50,310 to $221,364.
Ban on big investors buying homes
Large institutional investors that control 350 or more single‑family homes cannot buy more single‑family homes. The law lists many exceptions, like new construction, build‑to‑rent, and renovations with improvements of at least 15% of the purchase price. The ban takes effect 180 days after enactment and ends 15 years later. Treasury can issue rules to reduce market disruption but cannot change the 350‑home threshold or the listed exceptions.
Stronger tools to handle failing banks
FDIC can choose a bank‑resolution option that is not the least costly when it limits big‑bank concentration and meets set tests. Buyers must pay assessments over at least five years to cover the extra cost. FDIC must set cost criteria within one year and report to Congress within 30 days after using this tool. The law also allows certain interstate mergers for failing banks when needed to prevent serious economic harm and no qualified bid exists.
Keep rural rentals affordable and preserved
USDA creates a permanent program to preserve Section 514/515/516 multifamily housing, including loan restructures and other aid. USDA must give tenants plain‑language notice at least 2 years before loan maturity and record use restrictions in preservation deals. Rental assistance can be renewed for up to 20 years, subject to yearly funding, and is kept in place during foreclosure. USDA applies the 1981 multifamily foreclosure procedures to these loans and upgrades Rural Housing Service tech and staffing. HUD and partners can also give technical assistance to help preserve at‑risk multifamily housing.
Pilot for mortgages under $100,000
FHA sets up a pilot within one year to expand mortgages with original balances of $100,000 or less. The pilot can give payments to lenders and grants to borrowers for down payments, closing costs, appraisals, and title insurance. It can also adjust FHA terms and provide outreach and technical help. The pilot ends four years after it starts, with annual reports to Congress.
Renter help and checks on big landlords
HUD sets up a toll‑free line and public website within 180 days for renters in homes owned by large institutional investors. HUD refers State‑law issues, investigates possible Federal‑law violations, and responds in writing with steps taken and outcomes. Large investors must give renters written contact info at move‑in and yearly, update it within 30 days, and post the outreach resource online. Large investors must also report how many single‑family homes they control within 180 days and every year by December 31. Breaking the single‑family purchase ban brings a civil penalty equal to the greater of $1,000,000 per violation or three times the purchase price, starting 180 days after enactment and ending 15 years later.
Whole‑home repairs with forgivable loans
Homeowners qualify if income is at or below 80% of area median income and they live in the home. Small landlords qualify if they own fewer than 10 eligible rental properties, have no more than 25 total units, and a majority of units are affordable. Forgivable repair loans can be cleared within three years after work is done if owners follow the loan terms.
Faster environmental reviews for housing
The law creates NEPA categorical exclusions for some HUD and USDA housing actions like infill projects, affordable housing acquisition, rehab, and new builds with 15 units or fewer. HUD must issue rules within one year and sign a HUD–USDA agreement within 180 days to avoid duplicate reviews. HUD also streamlines many housing activities to use faster review similar to 24 CFR parts 58.34 and 58.35 as of January 1, 2025. These steps apply to funds appropriated after the implementing actions and still protect safety and standards.
New grants to boost housing supply
HUD starts a competitive planning grant program within one year to support affordable‑housing planning and implementation. Grants cannot pay for construction and have a 10% admin cap. HUD also launches competitive grants for places that increased housing supply, using an objective method and public comment. HUD may give extra weight to grant projects in or directly benefiting qualified Opportunity Zones.
Easier path to start community banks
New community banks can request plan changes in their first two years, with a 90‑day agency decision or it is approved. Agencies must streamline applications, share data when possible, consult the SEC on capital rules, and study rural bank growth barriers. Each applicant can get an agency caseworker and a list of recent bank mentors; public guidance is required within one year. Qualifying community banks insured between Jan 1, 2026 and Dec 31, 2028 can phase in capital rules over two years. Treasury also creates a mentor‑protégé program so large institutions or financial agents can help small banks; top‑rated credit union boards can meet at least six times a year instead of monthly.
Modern rules for manufactured homes
HUD is the main federal authority for manufactured‑home standards, and other agencies must get HUD’s approval before adding new standards. HUD allows manufactured homes with or without a permanent chassis and will issue distinct labels and data plates for chassis‑less homes. States must certify within 1 year (or 2 years for biennial legislatures) that they treat chassis‑less homes the same; until then, making, installing, or selling these homes in that State is not allowed. HUD will provide model guidance and coordinate with other federal agencies.
More flexible HOME and CDBG funds
Local housing funds can now pay for new affordable‑housing construction, up to 20% of a recipient’s allocation, using amounts appropriated after enactment. The law removes a HOME per‑unit spending cap and lets some areas use HOME funds for nearby water, sewer, roads, sidewalks, and utility connections tied to assisted housing; HUD issues rules within one year. Starting in fiscal year 2027, civil penalties may be transferred to HOME for single‑family construction, rehab, and first‑time buyer help (down payments, closing costs, interest‑rate buydowns) when Congress provides the money. HUD must apply Build America, Buy America rules to HOME within 180 days and may withhold reallocations from noncompliant jurisdictions. If CHDO‑reserved HOME funds sit uninvested for 24 months, the local government can use them for any HOME‑eligible activity, and by October 1, 2026, grantees must post a public online list of their undeveloped parcels.
Temporary flexibility for homeless grants
For fiscal years 2027–2030, recipients can ask HUD to waive the section 415(b) spending limit. Requests must show local need, a detailed plan, support for the Consolidated Plan, and public input, with HUD approval or denial within 60 days. HUD denies any request from a recipient that relocates or threatens to relocate people without providing required housing alternatives. Approved waivers last through the period of performance unless revoked with notice and justification.
Deposit rule relief with guardrails
Eligible small, well‑rated banks can treat custodial deposits as not brokered up to 20% of total liabilities. Agent banks can exclude reciprocal deposits under new tiered caps, and qualifying exams now use a CAMELS 1–3 standard. Two supervisory asset cutoffs rise from $3 billion to $6 billion. Banks that are not well capitalized cannot pay custodial deposit rates that significantly exceed local or FDIC national comparable rates.
No Federal Reserve digital dollar yet
The Federal Reserve cannot issue a central bank digital currency without a law from Congress. The ban lasts until December 31, 2030. It does not block private, dollar‑denominated digital currencies that are open, permissionless, and keep coin‑like privacy.
Clear VA loan notice on mortgage apps
Within six months, the standard mortgage application includes this line under the military service question: “If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility.” This alerts applicants with military service to ask about VA home loan options.
Section 8 rentals count as affordable
A unit rented with Section 8 tenant‑based help counts as affordable housing. The tenant’s share must follow Section 8 rules. The total rent must not be above the amount the local housing agency approved.
Stronger appraisal reviews and training
If you have a federally backed mortgage, your creditor must offer a process to review or reconsider an appraisal. States can get grants to train, recruit, and support appraisers, including scholarships. The law recognizes State‑credentialed trainee appraisers; supervising certified appraisers remain responsible for the work. VA, USDA’s Rural Housing Service, and HUD are added to the federal Appraisal Subcommittee for better coordination.
More room for bank community investments
The law raises a key numeric reference for public‑welfare investments from 15 to 20 in two banking statutes. This gives banks more headroom for qualifying community investments under those rules.
Small projects exempt from local hiring
Section 3 local hiring and contracting rules do not apply when a recipient got less than $3,000,000 in the most recent year (or is a State recipient) and the activity assists 50 units or fewer. This exemption takes effect upon enactment.
No new money for this law
The law does not authorize any new federal funds to carry it out. It does not cancel past appropriations or change who already qualifies for benefits.
Limit on new HUD small‑dollar pilots
After three years from enactment, HUD and FHA cannot start new small‑dollar mortgage pilot programs. Existing efforts can run, but no new pilots begin after that window.
Easier rules for very small rentals
Rental properties with four or fewer units can be exempt from certain program rules if every unit is affordable and occupied by a low‑income family. Owners may not refuse tenants because they use a Section 8 voucher. Local program administrators must monitor compliance.
Stronger quality checks for HUD counseling
HUD reviews organizations that provide HUD‑funded housing counseling and may consider counselor performance. If a counselor is not competent, HUD can require more training, a probation period, retesting, and suspend certification after at least two failed retests. HUD can also deny renewal of counseling funding with at least 60 days’ written notice, and the provider may request an informal conference before a final decision.
Small change to Fed surplus in 2035
On September 30, 2035, a Federal Reserve statutory surplus figure drops by $115 million. This is an internal federal accounting change.
Sponsors & CoSponsors
Sponsor
Hill, J. French [R-AR-2]
AR • R
Cosponsors
Rep. Waters, Maxine [D-CA-43]
CA • D
Sponsored 5/19/2026
Roll Call Votes
house vote • 5/20/2026
On Motion to Suspend the Rules and Agree
Yes: 396 • No: 13