U.S. Sens. John Thune (R-SD) and Mike Rounds (R-SD) are commending Senate colleagues for action advancing their Tribal Trust Land Homeownership Act.
The measure would create statutory timelines in which the Bureau of Indian Affairs (BIA) is required to process mortgages involving property located on tribal trust land. It also bolsters the ability of certain federal agencies to operate their tribal housing programs and improve communication between the BIA and tribes, tribal members and lenders via establishment of a realty ombudsman within the BIA communicating with relevant parties.
U.S. Sens. Tina Smith (D-MN) and Jon Tester (DT) joined Thune and Rounds to introduce the bill earlier this year.
“Affordable housing opportunities on tribal trust land can be hard to come by in South Dakota and across the nation due in part to the BIA’s challenging mortgage approval process, which can complicate lenders’ ability to provide financing to prospective homebuyers and participate in federal tribal housing programs,” the senators noted via a statement on the bill’s advancement. “Our bipartisan legislation would expedite this mortgage approval process, hold the BIA accountable, and encourage more lenders to provide mortgages across Indian Country.”
National American Indian Housing Council Executive Director Chelsea Fish said it is essential that Native people have equal access to mortgage transactions, just like any other citizen in this country.
“This bill focuses on aligning the processes of the BIA with standard practices in the private mortgage industry,” Fish said. “We commend legislators for prioritizing mortgage processes within the BIA and promoting a culture of accountability.”