What does APPLICATION OF MULTIFAMILY MORTGAGE FORECLOSURE PROCEDURES TO of Rural Housing Service Reform Act of 2025 do?

This section amends the Multifamily Mortgage Foreclosure Act of 1981 to include references to sections 514, 515, and 538 of the Housing Act of 1949. It also amends Section 521(d) of the Housing Act of 1949 to require the Secretary to maintain rental assistance payments during foreclosure proceedings. The amendment allows the rental assistance contract to be used to provide further assistance to existing projects under sections 514, 515, or 516 of the Housing Act of 1949.

What does STUDY ON RURAL HOUSING LOANS FOR HOUSING FOR LOW- AND of Rural Housing Service Reform Act of 2025 do?

This section requires the Secretary of Agriculture to conduct a study on the loan program under section 521 of the Housing Act of 1949. The study must be completed within six months of the Act's enactment and submitted to Congress as a publicly available report. The report should include the total amount of subsidies provided to borrowers with loans made under section 502 of the Housing Act of 1949. The report must detail how much of those subsidies are being recaptured. The report should also outline the time and costs associated with recapturing those subsidies.

What does AUTHORIZATION OF APPROPRIATIONS FOR STAFFING AND IT UPGRADES. of Rural Housing Service Reform Act of 2025 do?

This section authorizes appropriations to the Secretary of Agriculture. The appropriations are for fiscal years 2026 through 2030. The funds are intended for increased staffing needs and information technology upgrades. These upgrades are to support all Rural Housing Service programs.

What does FUNDING FOR TECHNICAL IMPROVEMENTS. of Rural Housing Service Reform Act of 2025 do?

This section authorizes appropriations to the Secretary of Agriculture for technology improvements within the Rural Housing Service. The appropriations are intended to improve the technology used to process and manage housing loans. Funds appropriated under this section remain available for five years after the date of appropriation. The Secretary of Agriculture is required to implement these technology improvements within a five-year period beginning when funds are appropriated.

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Rural Housing Service Reform Act of 2025

Last updated: 4/2/2025 · Introduced: 4/2/2025

Author: Tina Smith (D-MN)

AI TL;DR will appear after bill summary generation completes.

119th Congressin committeeHR. 4957(In Committee)Official page

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Other Sections

Includes provisions on preamble, application of multifamily mortgage foreclosure procedures to, and 3 more.

5 sections