Congress·In Committee·H.R. 7647
MORE Opportunities for Homeownership Act
Credit Unions: Expanding Access to Home Loan Funding
Legislative Progress
House
Key Points
- This bill, introduced by Representative Vicente Gonzalez, would change federal law to treat credit unions the same as traditional banks when it comes to certain housing funds. It adds credit unions to the definition of "Community Financial Institutions."
- By making this change, credit unions gain better access to money from the Federal Home Loan Bank system. This system provides low-cost funding to local lenders so they have enough cash on hand to give out mortgages to homebuyers.
- The policy aims to help more people buy homes by increasing the amount of money available for loans at local credit unions. This could lead to more mortgage options and potentially better rates for families who prefer banking with a credit union rather than a large national bank.
Impact Analysis
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Milestones
2 milestones2 actions
Feb 23, 2026
Referred to the House Committee on Financial Services.
Feb 23, 2026
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.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
MORE Opportunities for Homeownership Act
Bill NumberHR 7647
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Financial Services.
Data Sources
Sponsor
Cosponsors
(1)R: 1
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