HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.
![handle is hein.congrecreports/crptxafkm0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
Calendar No. 79
118TH CONGRESS REPORT
1st Session SENATE 118-33
TRIBAL TRUST LAND HOMEOWNERSHIP ACT OF 2023
MAY 30, 2023.-Ordered to be printed
Mr. SCHATZ, from the Committee on Indian Affairs,
submitted the following
R E P O R T
[To accompany S. 70]
[Including cost estimate of the Congressional Budget Office]
The Committee on Indian Affairs, to which was referred the bill
(S. 70) to require the Bureau of Indian Affairs to process and com-
plete all mortgage packages associated with residential and busi-
ness mortgages on Indian land by certain deadlines, and for other
purposes, having considered the same, reports favorably thereon
without amendment and recommends that the bill do pass.
PURPOSE
The purpose of S. 70 is to establish deadlines for the Bureau of
Indian Affairs (BIA) to process and complete all mortgage packages
associated with residential and business mortgages on Indian land,
and to establish a realty ombudsman within the BIA to adjudicate
delays in the processing of BIA realty filings.
BACKGROUND
The BIA reviews and processes all leasehold and trust land mort-
gages on Indian lands. These unique mortgages for Indian lands,
which often provide low down payments and flexible underwriting
requirements to encourage homeownership, are typically issued by
Community Development Financial Institutions (CDFIs), conven-
tional lenders, and federal government agencies such as the De-
partment of Housing and Urban Development (HUD), the Depart-
ment of Agriculture (USDA), and the Department of Veterans Af-
fairs (VA).
39-010](ViewImageLocal?handle=hein.congrecreports/crptxafkm0001&div=1&collection=&method=preview&ext=.png&size=3)