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Single-family home

A standalone residential building designed for one household, typically with its own lot and no shared walls with other residences.

Owner-occupant

An individual who owns a home and lives in it as their primary residence, as opposed to an investor who owns it as a rental property.

Large institutional investor

A company or fund that invests a significant amount of money, typically in real estate, which federal agencies will define more specifically under this bill.

Government-sponsored enterprises (GSEs)

Privately owned companies created by Congress to support specific sectors of the U.S. economy, such as housing (e.g., Fannie Mae and Freddie Mac).

Securitizing

The process of combining individual loans or assets into a larger pool and then selling shares of that pool as securities (investments) to investors.

Real estate-owned properties (REO)

Properties that have gone through foreclosure and are now owned by the lender (often a federal agency or a bank backed by a federal program).

First-look policies

Programs that give individual homebuyers a exclusive period to bid on a home (often a foreclosed or government-owned property) before investors are allowed to make offers.