HR 3206
Protecting America's Property Rights Act
Summary
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.
Bill status
- Status
- In committee
- Sponsor
- Rep. Andrew R. Garbarino [R-NY-2]
- Cosponsors
- 22
- Policy area
- Finance and Financial Sector
- Introduced
- 2025-05-06
- Latest action
- 2025-05-06: Referred to the House Committee on Financial Services.
Committee referrals
Recent actions
- 2025-05-06: Referred to the House Committee on Financial Services.
- 2025-05-06: Introduced in House
- 2025-05-06: Introduced in House