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Congress·In Committee·H.R. 7789

Reps. Finstad and Krishnamoorthi Introduce Bill to Launch Lending.gov for All Federal Loans

Federal Loan Systems Modernization Act of 2026

19 days ago·View on Congress.gov

Legislative Progress

House
Senate
President
Law

Key Points

  • This bill creates a centralized website called Lending.gov where Americans can find and apply for any federal government loan in one place, replacing the current patchwork of separate agency systems.

    From policy text

    “authorize the creation of ``Lending.gov'' as a shared services platform to provide a single source of access to loans provided by Federal agencies, and modern technology to support effective management of Federal credit programs”
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  • The General Services Administration must submit a plan to build the platform within 6 months of the bill becoming law, using commercially available loan processing software rather than building custom government systems from scratch.

    From policy text

    “Not later than 6 months after the date of enactment of this Act, the Administrator shall submit to the Director and the appropriate congressional committees a plan to establish the Platform utilizing commercially available loan management technology”
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  • Nearly all federal agencies that give out loans must move their systems onto the new platform within 3 years. The requirement covers programs handling more than 50 loans a year or more than $10 million in total lending, though the OMB Director can grant limited exceptions.

    From policy text

    “Not later than 3 years after the date of enactment of this Act, each agency that administers a Federal loan program shall complete migration of its loan management systems to the Platform established under section 4, unless granted an exception by the Director under subsection (c)(2).”
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  • The platform can charge a fee of up to 0.25% on each loan it handles to fund ongoing operations. However, for direct loans to individual borrowers, the fee can only be charged if the agency certifies it won't make the loan less affordable or accessible.

    From policy text

    “The amount of the remittance fee collected under paragraph (1) shall be determined by the Provider in consultation with the Administrator, but shall be not more than 0.25 percent of the face value of the Federal loan serviced”
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  • The bill includes requirements for fraud detection tools, performance dashboards, cybersecurity compliance, and annual satisfaction surveys of agency staff to ensure the platform works well and keeps improving over time.

    From policy text

    “integrate commercially available loan management technology appropriate for the efficient operation of Federal loan programs, including tools for application intake, underwriting, servicing, reporting, fraud detection, and customer-experience management”
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Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Mar 4, 2026House

Referred to the House Committee on Oversight and Government Reform.

Mar 4, 2026

Introduced in House

What Happens Next

Projected impacts based on AI analysis

6 months after enactment

GSA must submit a plan to Congress for building the Lending.gov platform

This is the design phase — no changes for borrowers yet, but it sets the blueprint for how the system will work and which agencies go first.

About 2.5 years after enactment

Agencies begin migrating their loan systems to the Lending.gov platform

Borrowers at early-adopter agencies will start seeing a new application and servicing experience. There may be temporary growing pains during the transition.

3 years after enactment

All required federal agencies must complete migration to Lending.gov

At this point, most federal loan programs should be accessible through a single website. Borrowers across SBA, USDA, VA, HUD, and other agencies would use one system for applications and loan management.

Source Information

Document Type

Congressional Bill

Official Title

Federal Loan Systems Modernization Act of 2026

Bill NumberHR 7789
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Oversight and Government Reform.

Sponsor

Cosponsors

(1)
D: 1

Analysis generated by AI. Always verify with official sources.