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Mortgage Rate Reduction Act
3/11/2025, 8:06 AM
Summary of Bill HR 892
Bill 119 HR 892, also known as the "Loan Transparency Act," aims to increase transparency within certain government agencies by requiring the heads of these agencies to disclose information about loans that are insured and guaranteed by them. The bill seeks to provide the public with more information about these loans, including details about the borrowers, the terms of the loans, and any potential risks associated with them.
The purpose of this legislation is to ensure that taxpayers are aware of how their money is being used to support loans through government agencies. By requiring greater transparency, the bill aims to hold these agencies accountable for their lending practices and to prevent any potential misuse of funds.
Overall, the Loan Transparency Act is designed to promote greater accountability and oversight within government agencies that provide loan insurance and guarantees. It seeks to provide the public with more information about these loans in order to promote transparency and ensure that taxpayer dollars are being used responsibly.
The purpose of this legislation is to ensure that taxpayers are aware of how their money is being used to support loans through government agencies. By requiring greater transparency, the bill aims to hold these agencies accountable for their lending practices and to prevent any potential misuse of funds.
Overall, the Loan Transparency Act is designed to promote greater accountability and oversight within government agencies that provide loan insurance and guarantees. It seeks to provide the public with more information about these loans in order to promote transparency and ensure that taxpayer dollars are being used responsibly.
Congressional Summary of HR 892
Mortgage Rate Reduction Act
This bill authorizes the federal guarantee, or insurance, of certain second mortgages. Specifically, this applies to properties with a first mortgage guaranteed by the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). For a second mortgage to qualify, the first mortgage on the property must be guaranteed under the same authority.
The bill also requires the publication of mortgage guarantee information by the FHA, VA, and Department of Agriculture. For each mortgage guaranteed, these agencies must publish the address of the property and the date of the loan.
Read the Full Bill
Current Status of Bill HR 892
Bill HR 892 is currently in the status of Bill Introduced since January 31, 2025. Bill HR 892 was introduced during Congress 119 and was introduced to the House on January 31, 2025. Bill HR 892's most recent activity was Referred to the Subcommittee on Economic Opportunity. as of March 5, 2025
Bipartisan Support of Bill HR 892
Total Number of Sponsors
3Democrat Sponsors
3Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 892
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 892
To require the heads of certain agencies to disclose information about loans insured and guaranteed by such agencies, and for other purposes.
To require the heads of certain agencies to disclose information about loans insured and guaranteed by such agencies, and for other purposes.
Comments
Adaline Chu
654
1 year ago
This bill won't help.
Cecilia Davenport
616
1 year ago
This bill is garbage!
Sponsors and Cosponsors of HR 892
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