S 2522
108th Congress
Senate
Armed Forces and National Security
Economics and Public Finance
Federally-guaranteed loans
Finance and Financial Sector
Housing and Community Development
Mortgage guaranty insurance
Mortgages
Veterans' benefits
Veterans' loans
A bill to amend title 38, United States Code, to increase the maximum amount of home loan guaranty available under the home loan guaranty program of the Department of Veterans Affairs, and for other purposes.
Introduced: June 15, 2004
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2004
Committee on Veterans' Affairs. Hearings held.
Jun 15, 2004
Read twice and referred to the Committee on Veterans' Affairs. (text of measure as introduced: CR S6807)
Jun 15, 2004
Sponsor introductory remarks on measure. (CR S6807)
Jun 15, 2004
Introduced in Senate
Plain-English summary
Amends Federal veterans' benefits law to revise the maximum amount of home loan guaranty available under the home loan guaranty program of the Department of Veterans Affairs, specifically the guaranty of any loan of more than $144,000. Replaces the current formula of the lesser of $60,000 or 25 percent of the loan with the lesser of a certain maximum guaranty amount or 25 percent of the loan.
Defines maximum guaranty amount as the dollar amount equal to 25 percent of the Federal Home Loan Mortgage Corporation (Freddie Mac) conforming loan limit limitation determined under the Federal Home Loan Mortgage Corporation Act for a single-family residence, as adjusted for the year involved.
What's happening now
Committee on Veterans' Affairs. Hearings held.
Committees of jurisdiction
1