[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3206 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 3206

    To provide additional requirements for the purchase and sale of 
   conventional mortgages by the enterprises, and for other purposes.


_______________________________________________________________________


                    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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting America's Property Rights 
Act''.

SEC. 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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