Plain English
GovGreed Synthesis ·
Protecting America's Property Rights Act This bill directs the government-sponsored enterprises—Fannie Mae and Freddie Mac—to establish standards for the use of products such as title insurance. (The enterprises facilitate liquidity in the mortgage market by purchasing mortgages and issuing mortgage-backed securities.) Specifically, the enterprises must establish regulations or guidelines for risk management related to loss or damage from liens upon, encumbrances on, or defects in the title to property, or the invalidity or unenforceability of any liens or encumbrances on property by using third party products subject to state regulation. Further, the enterprises must hold an additional 1% of the unpaid principal of any mortgage that does not meet the above regulations or guidelines as part of each enterprise’s minimum capital levels.
Market Impact Map
Action Timeline
2025-05-06
Referred to the House Committee on Financial Services.
2025-05-06
Introduced in House
2025-05-06
Introduced in House
Full Bill Text
119 HR 3206 IH: Protecting America's Property Rights Act U.S. House of Representatives 2025-05-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 3206 IN THE HOUSE OF REPRESENTATIVES May 6, 2025 Mr. Garbarino (for himself and Mr. Vicente Gonzalez of Texas ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide additional requirements for the purchase and sale of conventional mortgages by the enterprises, and for other purposes. 1. Short title This Act may be cited as the Protecting America's Property Rights Act . 2. Ensuring safe and sound lien and title protection products (a) Prudential management Section 1108(a) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4513b(a) ) is amended by inserting at the end the following: (12) management of risk related to loss or damage suffered by reason of liens, encumbrances upon, or defects in the title to such property, or the invalidity or unenforceability of any liens or encumbrances thereon by utilizing third party products subject to regulation by— (A) a State insurance authority as defined in 15 section 6809(11) of title 15, United States Code; or (B) a State regulator as defined in section 5481(22) of title 12, United States Code. . (b) Capital Standards In establishing minimum capital level pursuant to section 4612 of title 12, United States Code, the Director shall require the Enterprises to hold an additional 1.00 percent of the unpaid principal balance of any mortgage purchased by the Enterprises that does not meet the requirements of subsection (a). (c) Implementation and Compliance The Director shall, not later than 180 days after the date of enactment of this section, issue such regulations and guidance as necessary to ensure compliance with subsection (a), including requiring the Enterprises to verify that any product meeting the definition in subsection (a) is appropriately regulated. (d) Definitions For purposes of this section— (1) the term Enterprises shall have the same meaning as in section 4502(10) of title 12, United States Code; and (2) the term Director shall have the same meaning as in section 4052(9) of title 12, United States Code.
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