Mike Rounds

The U.S. Senate has unanimously passed a bill designed to speed up the mortgage process for applications on tribal lands. The Tribal Trust Land Homeownership Act was introduced by South Dakota Senators John Thune and Mike Rounds in January. It will now move on to the House of Representatives for deliberation. “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. Our bipartisan legislation would expedite this mortgage approval process, hold the BIA accountable, and encourage more lenders to provide mortgages across…