“In this section, the term ``small-dollar mortgage'' means a mortgage with an original principal obligation of less than $100,000.”
The section defines a small-dollar mortgage, for its own purposes, as a mortgage with an original principal obligation of less than $100,000.
What the document actually says
“In this section, the term ``small-dollar mortgage'' means a mortgage with an original principal obligation of less than $100,000.”
That sentence, in plain words
A small-dollar mortgage is a home loan. It starts at less than one hundred thousand dollars.
What this is about
Principal is the amount borrowed, apart from interest. This test looks at the sum at the start. The figure is a ceiling, not a target.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Increase the supply of housing in America, Public Law 119-101, sec. 402, 140 Stat. 898 (2026). https://www.govinfo.gov/content/pkg/PLAW-119publ101/html/PLAW-119publ101.htm
This page
“A small-dollar mortgage is defined as less than $100,000,” Increase the supply of housing in America, section 402, Sec. 402. Read the Mandate, https://readthemandate.org/pl-119-101/proposal/sec402-definition/ (retrieved October 10, 2026).
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