President Donald Trump signed bipartisan legislation this week aimed at speeding up mortgage approvals for homes and businesses on tribal trust land, a longstanding barrier to homeownership and private lending in Indian Country.
The Tribal Trust Land Homeownership Act, sponsored by Sens. John Thune, R-S.D., Mike Rounds, R-S.D., along with Rep. Dusty Johnson, R-S.D., establishes statutory timelines for the Bureau of Indian Affairs to process mortgage-related documents involving trust land.
Supporters of the bill said delays at the BIA have slowed housing development and discouraged lenders from participating in tribal mortgage markets. Sen. Rounds said mortgage approvals that are supposed to take 30 days have in some cases stretched beyond a year.
“For years, affordable housing opportunities on tribal trust land have been hard to come by in South Dakota and across the nation due…
