Bill lets lenders miss cost estimates by $500 or 5 percent.

What it does

This bill changes mortgage rules for lenders. Lenders can make bigger mistakes on closing costs without penalty. Borrowers can skip the 3-day waiting period before closing. Lenders are protected from blame if settlement agents make errors. The bill gives lenders 60 days to fix rule breaks.

Who it affects

People buying homes lose protections that catch lender mistakes before closing day. First-time buyers and people with less money are hurt most. They cannot pay surprise costs at the last minute.

One thing to notice

The bill removes the 3-day waiting period before borrowers sign. This period let borrowers check for errors or find better deals.

From the analysis of the bill text, linked under Primary records below.

Where it stands

• Jun 25, 2026 — Introduced · Congress.gov: “Introduced in House”
• Jun 25, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”

Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.

Words to know

• closing costs — Money a borrower must pay at the end to finish buying a home.
• settlement agents — People or companies that handle paperwork and money at the end of a home sale.
• waiting period — Time borrowers have to review loan papers before they must sign.