II 

118TH CONGRESS 

2D SESSION S. 4944 

To require multifamily borrowers with federally backed multifamily mortgage 

loans to submit positive rental payments to certain consumer reporting 

agencies. 

IN THE SENATE OF THE UNITED STATES 

AUGUST 1, 2024 

Mr. OSSOFF introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To require multifamily borrowers with federally backed multifamily mortgage loans to submit positive rental payments 

to certain consumer reporting agencies. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Access to Homeowner5 ship Act’’. 

6 SEC. 2. POSITIVE RENTAL PAYMENTS. 

7 The Federal Housing Enterprises Financial Safety 

8 and Soundness Act of 1992 (12 U.S.C. 4541 et seq.) is 


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•S 4944 IS

1 amended by inserting after section 1355 (12 U.S.C. 4602) 

2 the following: 

3 ‘‘SEC. 1355A. POSITIVE RENTAL PAYMENTS. 

4 ‘‘(a) DEFINITION.—In this section, the term ‘feder5 ally backed multifamily mortgage loan’ includes any loan 

6 (other than temporary financing such as a construction 

7 loan) that— 

8 ‘‘(1) is secured by a first or subordinate lien on 

9 residential multifamily real property designed prin10 cipally for the occupancy of 5 or more families, in11 cluding any such secured loan, the proceeds of which 

12 are used to prepay or pay off an existing loan se13 cured by the same property; and 

14 ‘‘(2) is made in whole or in part, or insured, 

15 guaranteed, supplemented, or assisted in any way, 

16 by any officer or agency of the Federal Government 

17 or under or in connection with a housing or urban 

18 development program administered by the Secretary 

19 of Housing and Urban Development or a housing or 

20 related program administered by any other such offi21 cer or agency, or is purchased or securitized by the 

22 Federal Home Loan Mortgage Corporation or the 

23 Federal National Mortgage Association. 

24 ‘‘(b) AUTHORITY.— 


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1 ‘‘(1) IN GENERAL.—The Director shall, by 

2 order or regulation, require each enterprise to estab3 lish and maintain a program requiring multifamily 

4 borrowers with federally backed multifamily mort5 gage loans to request the consent of their residents 

6 to report the positive rent payments of the residents 

7 directly to each consumer reporting agency described 

8 in section 603(p) of the Fair Credit Reporting Act 

9 (15 U.S.C. 1681a(p)), including 24 months of prior 

10 positive rent payments (if available). 

11 ‘‘(2) REQUIREMENTS.—Multifamily borrowers 

12 with federally backed multifamily mortgage loans 

13 shall report positive rent payments described in 

14 paragraph (1) if the resident consents to such re15 porting. 

16 ‘‘(c) MORTGAGES.—Any positive rent payment made 

17 by a resident described in subsection (b) shall be consid18 ered in an application to insure a mortgage under section 

19 203 of the National Housing Act (12 U.S.C. 1709). 

20 ‘‘(d) ADMINISTRATIVE COSTS.—The administrative 

21 costs associated with reporting positive rental payments 

22 shall be covered by the enterprises. 

23 ‘‘(e) REPORT.—The Director shall submit to Con24 gress a report every 5 years on the programs established 

25 under this section. 


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1 ‘‘(f) AUTHORIZATION OF APPROPRIATIONS.—There 

2 are authorized to be appropriated such sums as may be 

3 necessary to carry out this section.’’. 

Æ 


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