H.R. 3472 — Housing Stability for Dreamers Act

This section establishes eligibility for DACA recipients (i.e., aliens with deferred action under the June 15, 2012, DHS memorandum "Exercising Prosecutorial Discretion with Respect to Individuals Who Came to the United States as Children," as of enactment) in four single-family mortgage programs by prohibiting restrictions based on that status: (1) FHA mortgage insurance under the National Housing Act, including no limited denials of participation; (2) Rural Housing Service (RHS) mortgages under the Housing Act of 1949; (3) Fannie Mae mortgage purchases under the National Housing Act; and (4) Freddie Mac mortgage purchases under the Federal Home Loan Mortgage Corporation Act. (Thus, DACA recipients may qualify for these government-backed mortgages and secondary market purchases alongside other borrowers meeting program criteria.)

This section expands eligibility for financial assistance under the United States Housing Act of 1937 (i.e., public housing, Section 8 vouchers) and certain Federal Housing Administration mortgage insurance programs to include aliens who, as of the date of enactment, are recipients of deferred action under the Department of Homeland Security's June 15, 2012, memorandum on prosecutorial discretion for individuals who came to the United States as children (i.e., Deferred Action for Childhood Arrivals, or DACA).

This section clarifies that a veteran's status as a DACA recipient—as defined in section 203 of the National Housing Act (12 U.S.C. 1709)—does not affect the veteran's entitlement to housing loan benefits under the VA home loan guaranty program.