To amend the Housing and Urban Development Act of 1968 to provide reforms to housing counseling and financial literacy programs.
Congress moves to tighten oversight of housing counselors and offer help to borrowers 30+ days behind
Legislative Progress
Key Points
- Would require HUD to make sure housing counseling grant money goes to a mix of groups that serve both urban and rural areas.
- Gives HUD clearer power to review counseling agencies, including on-site visits, and check whether they follow program rules.
- Lets HUD compare individual counselors’ results by looking at how often counseled borrowers fall behind on certain government-backed home loans in similar markets.
- Allows HUD to require more training, retesting, or suspend a counselor’s certification if they’re found not competent, as long as it won’t leave an area without enough counselors.
- Requires lenders/servicers to give borrowers who are 30+ days behind on certain government-backed mortgages a chance to get foreclosure-mitigation counseling; some costs could be paid by a federal mortgage insurance fund.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
4 articlesDavid Scott, Joyce Beatty, and Cleo Fields Introduce Legislation to Strengthen HUD Oversight of Housing Counselors and Protect Homebuyers
Press release describing introduction of H.R. 6726, expanding HUD oversight (on-site reviews, performance reviews, retesting/suspension) and offering counseling to 30+ day delinquent borrowers on covered government-backed loans.
Beatty Scores Major Unanimous Affordable Housing Wins in Financial Services Committee
Press release recap noting H.R. 6726 (Reforms to Housing Counseling and Financial Literacy Programs Act of 2025) and its foreclosure-mitigation counseling expansion for borrowers 30 days delinquent, funded via Mutual Mortgage Insurance Fund where eligible.
Press Release: Joyce Beatty Leads Passage of Affordable Housing Provisions in House Financial Services Committee
AI-generated summary of a press release stating the committee advanced a housing package and highlighting H.R. 6726’s expansion of access to foreclosure counseling through the Mutual Mortgage Insurance Fund for at-risk borrowers.
Source Information
Document Type
Congressional Bill
Official Title
To amend the Housing and Urban Development Act of 1968 to provide reforms to housing counseling and financial literacy programs.
Data Sources
Sponsor
Cosponsors
(2)Analysis generated by AI. Always verify with official sources.