Modify Program Eligibility: Establishes the "Whole-Home Repairs" and "RESIDE" pilot programs to provide funding for the rehabilitation of units occupied by low-income residents and the conversion of vacant structures into residential housing.

Alter Regulatory Review: Amends the National Environmental Policy Act (NEPA) so that specific activities, such as tenant-based rental assistance and supportive services, are not subject to specified environmental review requirements.

Implement Performance Oversight: Mandates that HUD conduct performance reviews of housing counseling agencies by comparing individual counselor data against borrower default rates in comparable markets.

Regulate Asset Ownership: Establishes a framework requiring institutional investors to dispose of portions of their single-family residential inventories, subject to civil money penalties for non-compliance.

Adjust Financial Thresholds: Increases statutory loan limits for manufactured housing and property improvements and modifies the appraisal process to allow for the participation of trainee appraisers.

Low-Income Homeowners and Renters: Eligible for rehabilitation grants and impacted by changes to the supply of converted affordable units.

Small-Scale Landlords: Owners of fewer than 10 properties are eligible for repair loans, provided they adhere to fixed 30% rent-to-income caps and federal accessibility standards.

Capital Markets and Lenders: Subject to increased compliance costs for small-dollar mortgage reporting and potential shifts in risk profiles due to modified appraisal standards and FHA "safety and soundness" audits.

Housing Counseling Organizations: Subject to new certification requirements and the potential loss of federal assistance based on data-driven performance metrics.

Institutional Investors: Subject to mandatory divestment requirements and restricted from specific single-family residential holdings.

Environmental Review (NEPA): Currently requires procedural reviews for most federal housing actions; the bill stipulates that specific assistance activities are not subject to these specified environmental review requirements.

RAD Authorization: Currently set to expire on September 30, 2029; the bill removes the sunset date, making the program a permanent statutory authority.

Counselor Certification (12 U.S.C. 1701x): Current law focuses on the general distribution of counseling; the bill introduces a "competence" standard where certification is linked to the historical default rates of counseled borrowers.

Loan Limits: Amends Title I of the National Housing Act to increase the maximum dollar amounts for property improvement loans (e.g., to $75,000 for single-family structures).

CBO Score: A formal CBO cost estimate is not currently available for the Senate amendment.

Funding Clause: Section 1102 states "No additional funds are authorized to be appropriated," indicating the requirements are to be met using existing departmental resources.