I 
119TH CONGRESS 
1ST SESSION H. R. 5387 
To require certain covered agency heads to enter an memorandum of under-
standing and submit a report with respect to certain housing policy 
issues, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 16, 2025 
Mr. ALFORD (for himself, Mr. CORREA, Mr. MANN, Ms. PETTERSEN, Mr. 
LAWLER, Mr. RILEY of New York, Mr. CALVERT, Mr. WITTMAN, Mr. 
SHERMAN, 
Mrs. 
HOUCHIN, 
Ms. 
CRAIG, 
Ms. 
MCBRIDE, 
Mr. 
SUBRAMANYAM, Mr. RESCHENTHALER, and Mr. GARCIA of California) in-
troduced the following bill; which was referred to the Committee on Fi-
nancial Services, and in addition to the Committee on Veterans’ Affairs, 
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 certain covered agency heads to enter an memo-
randum of understanding and submit a report with re-
spect to certain housing policy issues, 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 ‘‘Saving the American 
Dream Act’’. 
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SEC. 2. MEMORANDUM OF UNDERSTANDING. 
The Secretary of Housing and Urban Development, 
the Secretary of Agriculture, the Secretary of Veterans Af-
fairs, the Secretary of the Treasury, and the Director of 
the Federal Housing Finance Agency shall, not later than 
1 year after the date of the enactment of this section, es-
tablish a memorandum of understanding, or other appro-
priate interagency agreement, to share and coordinate rel-
evant housing-related research and market data that fa-
cilities evidence-based policymaking. 
SEC. 3. INTERAGENCY REPORT. 
(a) REPORT.—Not later than 1 year after the date 
of enactment of this Act, the covered agency heads shall 
jointly submit a report to the appropriate committees that 
outlines policy proposals from the covered agency heads 
to address each of the following: 
(1) Federal housing finance programs and co-
ordination. 
(2) Opportunities to lower mortgage origination 
and servicing costs by aligning program under-
writing and servicing standards to the greatest ex-
tent possible. 
(3) Housing construction costs, production bar-
riers, and development incentives. 
(4) Local regulatory barriers to housing produc-
tion. 
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(5) Insurance costs and availability affecting 
housing markets. 
(6) Down payment assistance and housing 
transaction incentives. 
(7) Disaster resilience and housing recovery co-
ordination. 
(b) DEFINITIONS.—In this section: 
(1) APPROPRIATE
COMMITTEES.—The term 
‘‘appropriate committees’’ means— 
(A) the Committee on Banking, Housing, 
and Urban Affairs of the Senate; 
(B) the Committee on Veterans’ Affairs of 
the Senate; 
(C) the Committee on Finance of the Sen-
ate; 
(D) the Committee on Financial Services 
of the House of Representatives; 
(E) the Committee on Way and Means of 
the House of Representatives; and 
(F) the Committee on Veterans’ Affairs of 
the House of Representatives. 
(2) COVERED AGENCY HEAD.—The term ‘‘cov-
ered agency head’’ means the Secretary of Housing 
and Urban Development, the Secretary of Agri-
culture, the Secretary of Veterans Affairs, the Sec-
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retary of the Treasury, and the Director of the Fed-
eral Housing Finance Agency. 
Æ 
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