HR7586119th CongressWALLET

American Families First Act

Sponsored By: Representative Stutzman

Introduced

Summary

Prioritize sales of federally financed single-family homes to individual owner-occupants over large institutional investors. This bill would require federal officials to issue guidance within 180 days directing agencies and government-sponsored enterprises (GSEs) to favor owner-occupant buyers, limit large investors' access, and set rules for federal asset sales and disclosures.

Show full summary
  • Families and potential homebuyers: Individual owner-occupants would get stronger priority through first-look policies, disclosure requirements, and anti-circumvention measures that steer federally financed homes toward buyers, not investors.
  • Large institutional investors: Agencies would be directed to define "large institutional investor" and to restrict federal programs from approving, insuring, guaranteeing, securitizing, or otherwise facilitating those investors' purchases of single-family homes that an owner-occupant could buy.
  • Federal agencies and GSEs: HUD, the Department of Agriculture, the Department of Veterans Affairs, the General Services Administration, and the Federal Housing Finance Agency would have to issue agency-specific guidance and limit disposing federal assets to avoid transfers to large investors, while allowing narrow exceptions for planned build-to-rent rental communities and other tailored exceptions that advance owner-occupant goals.

Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Limits big investors buying single-family homes

If enacted, federal agency leaders would have 180 days to issue guidance. They would direct federal agencies and related mortgage enterprises to limit large institutional investors from buying single-family homes that individuals could live in. The guidance would require agencies to define an agency-specific "large institutional investor" term and bar approving, insuring, guaranteeing, securitizing, or otherwise facilitating those investors' purchases. It would push agencies to sell foreclosed homes to individual owner-occupants with first-look policies, anti-circumvention rules, and disclosure requirements. Narrow exceptions would be allowed for build-to-rent communities that are planned, permitted, financed, and built as rentals, and for other narrowly tailored exceptions an agency finds appropriate.

Sponsors & CoSponsors

Sponsor

Stutzman

IN • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov

Related Bills

Back to Legislation

Take It Personal

Get Your Personalized Policy View

Create a free account to save research, track policy impacts, and unlock your personalized versions of these pages.

Already have an account? Sign in