118th Congress · HOUSE BILLBILL

H.R. 5979 — VA Home Loan Awareness Act of 2023

“To require each enterprise to include on the Uniform Residential Loan Application a disclaimer to increase awareness of the direct and guaranteed home loan programs of the Department of Veterans Affairs, and for other purposes.”

Housing and community development

Introduced Oct 18, 2023

Last action Oct 25, 2023

Pipeline · Bill → Law

Step 1

Introduced

Oct 18, 2023

Step 2

Referred

Oct 25, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires Fannie Mae and Freddie Mac to include on the Uniform Residential Loan Application (i.e., Fannie Mae Form 1003/ Freddie Mac Form 65) a disclosure that (1) notifies applicants with military service that they may qualify for a Department of Veterans Affairs (VA) Home Loan, and (2) directs applicants to consult their lender regarding eligibility. Not later than 18 months after the enactment of the bill, the Government Accountability Office must study and report on whether at least 80% of lenders using the loan application form have met this requirement.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Oct 25, 2023

Referred to the House Committee on Financial Services.

Oct 18, 2023

Introduced in House