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An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Conventional Mortgages

Home loans that are not insured or guaranteed by a government agency, such as those from the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).

The Enterprises (Fannie Mae and Freddie Mac)

Two large, government-backed companies that buy mortgages from banks and other lenders, helping to ensure money is available for new home loans across the country.

Lien

A legal claim against a property, often as security for a debt, which must be paid off before the property can be freely sold or transferred.

Encumbrance

A claim or liability against real estate that can affect its value or transferability, such as a mortgage, lien, easement, or unpaid property taxes.

Title

The legal right to own and use a property, or the document that serves as proof of that right.

Capital Standards

Rules that require financial institutions to hold a certain amount of their own money as a buffer against potential losses, ensuring they remain financially stable and can absorb unexpected shocks.

Prudential Management

Careful and sensible management of financial affairs and risks, especially by institutions like banks or mortgage companies, to ensure their long-term safety and soundness.