Sec. 303. HUD-insured small dollar mortgage demonstration program
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In addition to amounts otherwise available, there is appropriated to the Secretary of Housing and Urban Development (in this section referred to as the Secretary ) for fiscal year 2026, out of any money in the Treasury not otherwise appropriated, to remain available until September 30, 2033— $76,000,000 for a program to increase access to small-dollar mortgages, as defined in subsection (b), which may include payment of incentives to lenders, adjustments to terms and costs, individual financial assistance, technical assistance to lenders and certain financial institutions to help originate loans, lender and borrower outreach, and other activities; $10,000,000 for the cost of insured or guaranteed loans, including the cost of modifying loans; and $14,000,000 for the costs to the Secretary of administering and overseeing the implementation of this section and programs in the Office of Housing generally, including information technology, financial reporting, research and evaluations, fair housing and fair lending compliance, and other cross-program costs in support of programs administered by the Secretary in this title, and other costs.
For purposes of this section, the term small-dollar mortgage means a forward mortgage that— has an original principal balance of $100,000 or less; is secured by a one- to four-unit property that is the mortgagor’s principal residence; and is insured or guaranteed by the Secretary. The Secretary shall have authority to issue such regulations, notices, or other guidance, forms, instructions, and publications to carry out the programs, projects, or activities authorized under this section to ensure that such programs, projects, or activities are completed in a timely and effective manner.