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Property Rights Protection: New Mortgage Rules

This act introduces new requirements for Fannie Mae and Freddie Mac when buying and selling mortgages. Now, for a mortgage on a one-to-four-family dwelling to be purchased, it must be insured by a title insurance company. This aims to increase transaction security and protect citizens' property rights.
Key points
Mandatory title insurance for mortgages on single-family homes and small residential buildings, enhancing buyer security.
Increased oversight of new programs and activities by Fannie Mae and Freddie Mac, potentially impacting future mortgage availability and terms.
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Expired
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Additional Information
Print number: 118_HR_5837
Sponsor: Rep. Garbarino, Andrew R. [R-NY-2]
Process start date: 2023-09-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting America's Property Rights Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5837.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-09-29.

What are the main provisions?

Key points include:

  • Mandatory title insurance for mortgages on single-family homes and small residential buildings, enhancing buyer security.
  • Increased oversight of new programs and activities by Fannie Mae and Freddie Mac, potentially impacting future mortgage availability and terms.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garbarino, Andrew R. [R-NY-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Real Estate Economy