Statement by CBC Mortgage Agency President Miki Adams
We commend the U.S. Senate for unanimously passing the Tribal Trust Land Homeownership Act of 2023, which would streamline the review and processing of mortgages for Native Americans living on tribal lands.
The bill establishes new requirements for the processing of residential leasehold mortgages, business leasehold mortgages, land mortgages, and right-of-way documents by the Bureau of Indian Affairs. It also outlines required response times for the completion of certified title status reports, notification of delays in processing, and the necessary form of notices and delivery of certain reports.
As a tribally owned home lender, we have a deep-seeded interest in making it easier for American Indian families to become homeowners. The Tribal Trust Land Homeownership Act is a powerful step toward eliminating the delays many Indigenous families face when buying a home. We call on the House of Representatives to swiftly pass this important legislation and send it to President Biden for his signature.« Cash Required to Buy a Home