I 
119TH CONGRESS 
1ST SESSION 
H. R. 892 
To require the heads of certain agencies to disclose information about loans 
insured and guaranteed by such agencies, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 31, 2025 
Mr. RYAN introduced the following bill; which was referred to the Committee 
on Financial Services, and in addition to the Committee on Veterans’ Af-
fairs, for a period to be subsequently determined by the Speaker, in each 
case for consideration of such provisions as fall within the jurisdiction of 
the committee concerned 
A BILL 
To require the heads of certain agencies to disclose informa-
tion about loans insured and guaranteed by such agen-
cies, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Mortgage Rate Reduc-
tion Act’’. 
SEC. 2. SENSE OF THE CONGRESS. 
It is the sense of the Congress that— 
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(1) the Assistant Secretary for the Office of 
Housing and Federal Housing Commissioner should, 
acting through the Federal Housing Administration, 
insure second mortgages under section 203 of the 
National Housing Act for properties for which the 
Federal Housing Administration has insured a first 
mortgage, to facilitate the assumption of such first 
mortgage by a subsequent purchaser of such prop-
erty; 
(2) the Secretary of Agriculture should guar-
antee loans for eligible housing under section 502(h) 
of the Housing Act of 1949 that are second mort-
gages if the Secretary of Agriculture insures the 
loan that is the first mortgage against such eligible 
housing, to facilitate the assumption of such first 
mortgage by a subsequent purchaser of such eligible 
housing; and 
(3) the Secretary of Veterans Affairs should in-
sure and guarantee real estate housing loans secured 
by second liens under subchapter I of chapter 37 of 
title 38, United States Code, if the Secretary of Vet-
erans Affairs insures the first lien against such real 
estate, to facilitate the assumption of the first mort-
gage against such real estate by a subsequent pur-
chaser of such real estate. 
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SEC. 3. INSURANCE FOR SECONDARY MORTGAGES. 
(a) FEDERAL HOUSING ADMINISTRATION.— 
(1) IN GENERAL.—Section 201(a) of the Na-
tional Housing Act (12 U.S.C. 1707(a)) is amend-
ed— 
(A) by striking ‘‘a first mortgage’’ each 
place it occurs and inserting ‘‘a first mortgage 
or second mortgage’’; and 
(B) by striking ‘‘secured thereby.’’ and in-
serting the following: ‘‘secured thereby; and the 
term ‘second mortgage’ means, with respect to 
real estate against which there is a first mort-
gage that has been insured under section 203, 
such classes of second liens as are commonly 
given to secure advances on, or the unpaid pur-
chase price of, real estate, under the laws of the 
State in which the real estate is located, to-
gether with the credit instrument, if any, se-
cured thereby’’. 
(2) CONFORMING AMENDMENTS.—Section 203 
of the National Housing Act (12 U.S.C. 1709) is 
amended by striking ‘‘first mortgage’’ each place it 
occurs and inserting ‘‘first mortgage or second mort-
gage’’. 
(b) DEPARTMENT OF VETERANS AFFAIRS.—Section 
3703(d)(3) of title 38, United States Code, is amended— 
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(1) in subparagraph (A), by striking ‘‘first lien’’ 
and inserting ‘‘first lien or second lien’’; and 
(2) by adding at the end the following new sub-
paragraph: 
‘‘(C) A real estate housing loan may only be secured 
by second lien if the Secretary insures or guarantees the 
first lien on such real estate.’’. 
SEC. 4. DISCLOSURE OF INFORMATION ABOUT LOANS 
GUARANTEED AND INSURED. 
(a) LOANS INSURED BY THE FEDERAL HOUSING AD-
MINISTRATION.—The Assistant Secretary for the Office of 
Housing and the Federal Housing Commissioner shall, not 
later than 1 year after the date of the enactment of this 
section, publish on a public website a list of all properties 
for which the Federal Housing Administration has insured 
a mortgage under section 203 of the National Housing 
Act that includes the following information for each prop-
erty insured: 
(1) The address of the property against which 
there is a mortgage insured by the Federal Housing 
Administration. 
(2) The date of the origination of the mortgage 
that is insured by the Federal Housing Administra-
tion. 
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