June 21, 2026 to June 27, 2026

This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news related to residential and commercial construction as well as infrastructure and government initiatives and programs concerning housing and housing affordability. Once a week, we break down the most important updates in this space in under five minutes.

📋 In This Week's Newsletter

• 🏛️ This Week's Congressional Calendar
• 🇺🇸 Federal Government News
• 📜 Legislative Updates
• 📚 What We're Reading This Week

This Week's Congressional Calendar

• House Financial Services Committee: Markup on Various Measures: The House Financial Services Committee will convene a markup on June 30, 2026, to consider multiple measures relevant to banking, housing, and financial regulation.

Federal Government News

FHFA Proposes Major Restructuring of Enterprise Duty To Serve Regulation

The Federal Housing Finance Agency (FHFA) published a notice of proposed rulemaking to eliminate the current regulatory framework prescribing activities for Fannie Mae and Freddie Mac under the Duty to Serve (DTS) Underserved Markets initiative. The proposal would enable the Enterprises to select any eligible activity consistent with their statutory obligations in rural housing, affordable housing preservation, and manufactured housing markets, removing requirements to address specific regulatory activities. Significant changes include revisions to how median income is calculated for loan eligibility, new evaluation and reporting standards, expanded eligibility for LIHTC equity investments, and administrative streamlining of Plan submissions and modifications. FHFA is also seeking comment on broadening manufactured housing definitions and aligning rural metrics, with an anticipated implementation for the 2028 planning cycle.

Sources: www.federalregister.gov

OMB Launches First Phase of Historic FAR Overhaul

The Office of Management and Budget (OMB) formally published the first set of proposed rule changes for the Federal Acquisition Regulation (FAR), representing the most comprehensive revision since the FAR's creation. The initial package targets 17 FAR parts, with updates focused on plain language, process simplification, and regulatory review. Notable revisions include replacing five-page acquisition plan mandates with a single-page tip sheet and risk-based audits for settlement proposals. The overhaul establishes a recurring four-year regulatory review cycle and measures to reduce unnecessary rule accumulation. Two additional rulemaking deliveries will address further FAR parts.

Sources: www.whitehouse.gov

HUD Issues Notice on Relocation and Consolidation of Kansas City Offices

HUD announced its plan to consolidate the Kansas City, Missouri Field Office into the Kansas City Regional Office in Kansas. The agency’s cost-benefit analysis projects annual lease and operating cost savings of nearly $289,000, with a net present value over three years of $845,000. Approximately 25 federal employees are affected, with no reductions in force. HUD’s assessment concludes service quality, accessibility, and continuity will be maintained, noting nominal impact on the Kansas City metro area economy. A statutory 90-day notice period and environmental review accompany the transition.

Sources: www.federalregister.gov

HUD Solicits Comments on Stakeholder Feedback Collection for VA Construction

The Department of Veterans Affairs, Office of Construction and Facilities Management (CFM), is requesting public input on its stakeholder feedback survey. The survey collects data from internal VA personnel, Army Corps of Engineers project teams, and private construction and engineering contractors. It evaluates project team performance twice annually through ten standard and two open-ended questions. The estimated reporting burden is 73 hours per annum across 544 respondents.

Sources: www.federalregister.gov

Notice of Proposed HUD Information Collection: Section 184 and 184A Loan Guarantee Program

HUD submitted for OMB review a proposed reinstatement, with changes, for Section 184 and 184A Loan Guarantee Program information collection. The revised package includes new form submissions from Tribes, lenders, and home inspectors related to property status, construction completion, escrow accounts, and mortgage servicing actions. The estimated aggregate reporting burden is 2,701 hours annually at an estimated cost of $78,640, with stakeholders invited to comment by July 23. These forms directly impact qualifying, monitoring, and managing HUD-guaranteed loans for tribal and Native Hawaiian property transactions.

Sources: www.federalregister.gov

Legislative Updates

21st Century ROAD to Housing Act

H.R. 6644, the 21st Century ROAD to Housing Act, moved forward as the motion to reconsider was laid on the table and agreed to without objection. The bill addresses modernizing housing and community development policies.

Sources: www.congress.gov

To permit the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association to purchase and securitize certain residential construction loans

H.R. 9461 was referred to the House Committee on Financial Services. This legislation would authorize Freddie Mac and Fannie Mae to participate in purchasing and securitizing specified residential construction loans.

Sources: www.congress.gov

A bill to improve the point-in-time count conducted by the Department of Housing and Urban Development, and for other purposes.

S. 4903 was read twice and referred to the Committee on Banking, Housing, and Urban Affairs. The bill seeks enhancements to HUD's point-in-time homelessness data collection and reporting practices.

Sources: www.congress.gov

To require the Comptroller General to submit to Congress a report on the capacity of federally assisted housing to support broadband service, and for other purposes.

H.R. 9493 was referred to the House Committee on Financial Services. This measure requires a GAO report evaluating broadband readiness of federally-assisted housing stock.

Sources: www.congress.gov

To amend the Truth in Lending Act to modernize disclosure requirements, establish materiality standards and safe harbors for mortgage disclosures, simplify waiting period requirements, expand tolerances for annual percentage rate accuracy, and for other purposes.

H.R. 9459 was referred to the House Committee on Financial Services. It addresses changes to mortgage disclosure and timing requirements, with updates proposed for the Truth in Lending Act.

Sources: www.congress.gov

What We're Reading This Week

• US homebuilders advance after Congress passes affordable housing bill: Homebuilder stocks rose after Congress approved comprehensive affordable housing legislation.
• House gives final approval to bipartisan housing bill aimed at lowering costs: The House passed a bipartisan housing bill directed at reducing housing costs nationwide.
• Housing Package Passed by Congress Has Wide Appeal, but It’s No Quick Fix: Lawmakers' housing package draws cross-party support but is seen as a long-term solution.
• Trump cancels signing of largest housing affordability bill in a generation: President Trump postponed signing a landmark housing affordability measure after Congressional passage.
• How to Solve the Housing Crisis? Everyone Has an Idea: Public and private sector leaders offer varied proposals to address the national housing shortage.
• See How Owning a Home Is Getting More Expensive in Every Way: Data shows across-the-board cost increases for homeowners in the U.S.
• US cost-sharing thrusts next-gen nuclear into construction phase: Federal cost-sharing initiatives move advanced nuclear projects into construction, impacting future energy infrastructure.

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