MOVE Act
Latest action (3 Aug 2026): Introduced
What this bill does
H.R. 10028, the MOVE Act, would require Fannie Mae and Freddie Mac—the two government-sponsored entities that buy and package home mortgages into securities—to begin purchasing and securitizing "portable mortgages." These are conventional mortgages that allow a borrower, with lender permission, to carry over the same interest rate, terms, and remaining balance to a new home if they sell their current property and buy another within 90 days. The bill requires this new purchasing activity to start within 180 days of enactment, and specifies that the mortgages must otherwise meet existing eligibility standards under the two entities' governing charters.
The bill primarily affects homebuyers and homeowners with conventional mortgages backed by Fannie Mae or Freddie Mac, as well as mortgage lenders who originate such loans. By requiring the agencies to buy and securitize portable mortgages, it could make it easier for lenders to offer this option, potentially benefiting homeowners who want to move without giving up a favorable existing interest rate.
The bill was introduced in the House on August 3, 2026, by Rep. Thomas Kean (R-NJ) and referred to the House Committee on Financial Services. It has not yet been voted on. Before becoming law, it would need committee consideration, approval by the full House, passage by the Senate, and the President's signature.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on August 3, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does H.R. 10028 do?
- H.R. 10028, the MOVE Act, would require Fannie Mae and Freddie Mac—the two government-sponsored entities that buy and package home mortgages into securities—to begin purchasing and securitizing "portable mortgages." These are conventional mortgages that allow a borrower, with lender permission, to carry over the same interest rate, terms, and remaining balance to a new home if they sell their current property and buy another within 90 days. The bill requires this new purchasing activity to start within 180 days of enactment, and specifies that the mortgages must otherwise meet existing eligibility standards under the two entities' governing charters. The bill primarily affects homebuyers and homeowners with conventional mortgages backed by Fannie Mae or Freddie Mac, as well as mortgage lenders who originate such loans. By requiring the agencies to buy and securitize portable mortgages, it could make it easier for lenders to offer this option, potentially benefiting homeowners who want to move without giving up a favorable existing interest rate. The bill was introduced in the House on August 3, 2026, by Rep. Thomas Kean (R-NJ) and referred to the House Committee on Financial Services. It has not yet been voted on. Before becoming law, it would need committee consideration, approval by the full House, passage by the Senate, and the President's signature.
- Has H.R. 10028 become law?
- Not yet. As of 3 Aug 2026, H.R. 10028 is introduced.
- Who sponsored H.R. 10028?
- H.R. 10028 was sponsored by Rep. Thomas Kean [R-NJ7] (Republican-NJ), with 0 cosponsors.
- What's the latest action on H.R. 10028?
- Introduced (3 Aug 2026).
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