News – Sheridan Media
The U.S. Senate recently passed legislation sponsored and championed by U.S. Senator Cynthia Lummis (R-WY). The Tribal Land Homeownership Act would accelerate the review and processing of mortgages on trust land by the Bureau of Indian Affairs, making tribal homeownership easier in Wyoming. Lummis said the Bureau of Indian Affairs’ mortgage review process has become overly complicated by bureaucratic red tape and is in desperate need of the revamp delivered by the legislation that received unanimous approval by the Senate.
Senator Lummis added that a more efficient review process will encourage more lending across Wyoming tribal lands and create more opportunities for home ownership and she encourages the House of Representatives to take up and pass this impactful legislation.
The Tribal Trust Land Homeownership Act would create statutory timelines in which the BIA would be required to process mortgages involving property located on tribal trust land. Additionally, it would enhance the ability of certain federal agencies to operate their tribal housing programs and improve communication between the BIA and tribes, tribal members, and lenders through the establishment of a realty ombudsman within the BIA who can communicate with relevant parties.
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Last modified: July 26, 2023