July 12, 2026 to July 18, 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 Subcommittee on Housing and Insurance to Hold Hearing on Oversight of the Federal Home Loan Bank System: On July 21, 2026, the House Financial Services Subcommittee on Housing and Insurance will hold a hearing titled 'Oversight of the Federal Home Loan Bank System' at 2128 Rayburn House Office Building. Scheduled witnesses include Ms. Jill Naamane (GAO), Mr. Ryan Donovan (Council of Federal Home Loan Banks), Mr. Barry Lockard (Cornhusker Bank), and Professor Kathryn Judge (Columbia University).

Federal Government News

FHFA Proposes Repeal of the Federal Home Loan Bank New Business Activities Regulation

The Federal Housing Finance Agency issued a notice of proposed rulemaking to repeal 12 CFR part 1272, the New Business Activities regulation. The agency stated that the regulation imposes unnecessary regulatory burdens on Federal Home Loan Banks, potentially disincentivizing innovation and duplicating existing prudential supervision. The FHFA explained that very few new business activities undertaken by the Banks in recent years have required regulatory filings, citing just two such notices in the past five years, both approved. Ongoing prudential supervision via the agency’s examination function serves to address potential risks associated with new business activities. The proposal is open for public comment until August 12, 2026.

Sources: www.federalregister.gov

HUD Withdraws Multiple Office of General Counsel Guidance Documents

The Department of Housing and Urban Development’s Office of General Counsel announced withdrawal of several guidance documents, including memoranda addressing enforcement of the Fair Housing Act, use of criminal records, language access, and appraisal elements of proof. The withdrawal affects documents issued between 1990 and 2024, citing alignment with Executive Orders 14192 ('Unleashing Prosperity Through Deregulation') and 14219 ('Ensuring Lawful Governance'). HUD indicated that withdrawn documents should not be cited as authoritative, and internal handbooks and training materials referencing them must be revised. The agency stated that replacement guidance will be issued as necessary.

Sources: www.federalregister.gov

Proposed Final Settlement in United States et al. v. RealPage, Inc., et al.

The Department of Justice Antitrust Division, along with state plaintiffs, filed a proposed Final Judgment and Competitive Impact Statement in the case against RealPage, Inc. and various large landlords, alleging anticompetitive conduct around the use of RealPage’s revenue management software. The settlement would bar Willow Bridge Property Company from licensing or using revenue management software that employs competitors’ nonpublic data and restricts information sharing among landlords. The proposed judgment also requires antitrust compliance policies. The period for public comment on the settlement is open for 60 days following Federal Register publication.

Sources: www.federalregister.gov

FHFA Proposes Amendments to the Suspended Counterparty Program Regulation

The Federal Housing Finance Agency published a proposed rule to amend its Suspended Counterparty Program (SCP) regulation, removing the term “reputational harm” as a basis for regulatory action. The FHFA maintains that all covered misconduct presents material, measurable financial risk, rendering the reputational risk language redundant. The agency noted that this move aligns FHFA regulation with recent changes at other federal financial regulators. The proposed rule is open for comments through August 12, 2026.

Sources: www.federalregister.gov

BIA Announces FY 2026 IGNITE Workforce Development Grant Pilot

The Bureau of Indian Affairs’ Office of Indian Services announced an upcoming Funding Opportunity for the Native American Technology and Manufacturing Grant Pilot Program (IGNITE). This grant will support Tribal workforce development programs in construction, infrastructure trades, and emerging technology sectors, including advanced manufacturing and STEM fields. Tribal applicants will be able to seek funds for workforce training, apprenticeships, and certification programs, with proposals expected to open in June 2026.

Sources: www.federalregister.gov

Legislative Updates

Senior Accessible Housing Tax Credit Act of 2026 (H.R. 9554)

This bill would establish a tax credit to incentivize the creation of accessible housing for seniors. The sponsor introduced remarks on the measure and it was entered into the Congressional Record (CR H4413).

Sources: www.congress.gov

Home Mortgage Interest Credit Act of 2026 (H.R. 9555)

This legislation seeks to provide a refundable home mortgage interest credit. The sponsor’s introductory remarks were entered into the record (CR H4413).

Sources: www.congress.gov

Home Market Restoration Act of 2026 (S. 4945)

This bill was read twice and referred to the Senate Committee on Finance. It addresses issues related to the restoration of home markets.

Sources: www.congress.gov

Protecting American Homes from Hedge Funds Act (H.R. 9657)

The bill was referred to the Committee on Ways and Means and the Committee on Financial Services. The legislation aims to address hedge fund involvement in the housing market.

Sources: www.congress.gov

To provide transparency in short-term rental listings (H.R. 9708)

The bill requires transparency in short-term rental listings and was referred to the House Committee on Energy and Commerce.

Sources: www.congress.gov

What We're Reading This Week

• US single-family housing starts fall; building permits lowest in 10 months: New data show U.S. single-family housing starts and permits declined to the lowest level in ten months.
• Evicting Wall Street From the Housing Market Will Be Messy: Examines the complexities involved in removing institutional investors from the U.S. housing sector.
• I’ve spent years studying economic data. These Americans taught me what ‘affordability’ really means: A survey of Americans' perspectives on affordability, incorporating housing, jobs, childcare, and inflation.
• Housing or Flood Protection? In Brooklyn, Housing Is Winning.: Investigates a Brooklyn project prioritizing new housing over flood protection measures.
• Property Listings Are More Complex Than Ever. Here’s What You Need to Know.: Reviews the growing complexity of property listings for buyers and sellers in current real estate markets.
• Exclusive | Developers Are Back to Building U.S. Warehouses: Reports a surge in warehouse construction activity as developers respond to shifting logistics demand.
• So you want to build your own metals smelter?: Discusses the practical and regulatory hurdles in starting a metals smelting facility in the U.S.
• The Americans Striking It Rich in the Data-Center Buildout: Profiles individuals benefiting from booming data center construction and land deals.

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