MOVE Act

Thomas H. Kean, Jr.

Republican · NJ · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Financial Services.

2026-08-03

Source: Congress.gov

The proposal would require Fannie Mae and Freddie Mac, the government-backed companies that buy and sell most home mortgages in the U.S., to start purchasing and packaging "portable mortgages" that borrowers could potentially transfer to a new home instead of paying off the old loan and getting a new one. This could make it easier and cheaper for homeowners to move without losing favorable mortgage terms, though it would represent a significant change to how the mortgage market currently operates. The change would primarily affect homebuyers, homeowners, mortgage lenders, and the two mortgage companies themselves.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10028 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10028 To require the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to begin purchasing and securitizing portable mortgages, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 3, 2026 Mr. Kean introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To require the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to begin purchasing and securitizing portable mortgages, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Making Ownership Viable for Everyone Act'' or the ``MOVE Act''. SEC. 2. PURCHASE AND SECURITIZATION OF PORTABLE MORTGAGES. (a) In General.--The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall, not later than 180 days after the date of the enactment of this section, begin purchasing and securitizing conventional mortgages under which the mortgagor is permitted by mortgagee to transfer the interest rate, terms and balance of such mortgage to a new property within 90 days of selling the property originally securing such mortgage. (b) Conventional Mortgage Defined.--The term ``conventional mortgage''-- (1) with respect to the Federal National Mortgage Association, has the meaning given the term in section 202(b)(2) of the Federal National Mortgage Association Charter Act and meets the requirements required for purchase and securitization under such Act; and (2) with respect to the Federal Home Loan Mortgage Corporation has the meaning given the term in section 302(i) of the Federal Home Loan Mortgage Corporation Act and meets the requirements required for purchase and securitization under such Act. <all>

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