Overview

• On July 29, the Senate Banking Committee approved the bipartisan housing package in a 24-0 vote.
• The legislation combines 27 prior measures to streamline construction rules, expand financing options and address appraisal delays.
• It authorizes broader Federal Housing Administration loans for manufactured and modular homes and empowers HUD to oversee counseling agencies.
• This is the first bipartisan housing markup in more than a decade, led by Sens. Tim Scott and Elizabeth Warren.
• Senate leaders must now schedule floor debate, with House consideration slated for the fall despite a crowded legislative calendar.