The MOVE Act, in one page

What the bill text actually does

The introduced text is short. Section 2 tells Fannie Mae and Freddie Mac that, no later than 180 days after enactment, they “shall 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.”

That is the entire operating command. It does not write underwriting grids, LTV caps, how to finance a price gap, how to treat existing 2020–2022 notes, or how MBS investors should reprice duration risk.

What it does not do

• It does not make today’s closed loans portable by itself. Contracts still control.
• It does not create a product you can lock this week.
• It does not pass the House, the Senate, or the President’s desk. Status remains “introduced / in committee.”
• It does not settle the industry objection that portability complicates mortgage-backed securities pricing.

The companion study bill

H.R. 7754, the Take Your Rate Act of 2026, introduced March 3, 2026 by Rep. Tom Barrett (R-MI-7), only directs HUD and FHFA to study portable federally backed mortgages and report to Congress. Both bills sit in House Financial Services. The MOVE Act is the more aggressive of the two because it skips the study and writes a purchase mandate.

Outside Congress

FHFA Director Bill Pulte said in late 2025 that the agency was “actively evaluating” assumable or portable mortgages. That is an administrative track, separate from H.R. 10028. Either path — statute or GSE/FHFA policy — would still need investor, servicer, and title infrastructure before a borrower saw a disclosure.