What does Preamble of Take Your Rate Act of 2026 do?

This bill requires a study on the feasibility and potential impacts of portable, Federally backed mortgage loans.

What does SHORT TITLE. of Take Your Rate Act of 2026 do?

This bill is formally titled the Take Your Rate Act of 2026.

What does STUDY ON MORTGAGE PORTABILITY. of Take Your Rate Act of 2026 do?

This section directs the Secretary of Housing and Urban Development and the Director of the Federal Housing Finance Agency to jointly conduct a study on mortgage loan portability for Federally backed mortgage loans. The study must analyze administrative and operational feasibility, the effect on the housing market, and necessary regulatory changes. The study is also required to assess the number of borrowers who would benefit, the budgetary impact on the Federal Government, and financial safety and soundness implications. The study should consider whether a limited demonstration program would be beneficial and how it should be administered. If mortgage loan portability is deemed not feasible, the study must recommend alternative solutions or program designs. The Secretary and Director may consult with various entities, including Fannie Mae, Freddie Mac, the Federal Housing Administration, and mortgage lenders, during the study. The term 'Federally backed mortgage loan' is defined as a loan secured by residential property (1-4 families) that is supported by the Federal Government in some way, or purchased/securitized by Fannie Mae or Freddie Mac.

What does REPORT TO CONGRESS. of Take Your Rate Act of 2026 do?

This section requires the Secretary and the Director to submit a joint report to the House and Senate committees. The report must include the findings of a study required under section 2. The report should also contain policy recommendations, if any. An assessment of risks and benefits to taxpayers and financial markets is required. Dissenting views from either agency can be included in the report.

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Take Your Rate Act of 2026

Last updated: 3/3/2026 · Introduced: 3/3/2026

Author: Tom Barrett (R-MI)

TL;DR (AI)

This bill mandates a study by the Department of Housing and Urban Development and the Federal Housing Finance Agency to evaluate the feasibility of portable, federally-backed mortgage loans.
The study will assess the potential impact on the housing market, borrowers, and the federal budget, including consideration of a demonstration program.
The Secretaries of HUD and the Director of FHFA must submit a report to Congress detailing the study's findings, policy recommendations, and a risk/benefit assessment for taxpayers and financial markets.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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