HR 2777 115th Congress House Armed Forces and National Security Government information and archives Housing finance and home ownership Veterans' loans, housing, homeless programs

Give Veterans Home Loan Choices Act of 2017

Introduced: June 6, 2017 Introduced by: Veasey, Marc A. Democratic · Texas See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 17, 2017

Referred to the Subcommittee on Military Personnel.

Jun 6, 2017

Referred to the Committee on Financial Services, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Jun 6, 2017

Introduced in House

Plain-English summary Congressional Research Service

Give Veterans Home Loan Choices Act of 2017

This bill amends the National Housing Act to require that a Federal Housing Administration mortgage notice for a prospective borrower who is a veteran include, in addition to comparative rate and fee information about conventional loans, similar comparative information about Department of Veterans Affairs (VA) home loans.

The Federal Housing Finance Agency shall direct the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to revise the uniform residential loan application by December 31, 2018, to include: (1) a check box to indicate that the applicant is a veteran; (2) the statement "If you are a veteran, you may be eligible for a VA mortgage"; and (3) a blank line for the borrower to initial and a statement that all applicants must initial the line to confirm that they have read the VA mortgage eligibility statement.

The bill requires pre-separation counseling for a member of the Armed Forces who is separating from active duty to include:

information on the availability of VA home loan services and housing assistance benefits, including the authority of a member to use an honorable discharge certificate as a certificate of eligibility for a VA guaranteed housing loan or to request a specific certificate of eligibility for such loan; and
counseling on responsible borrowing practices.

What's happening now July 17, 2017

Referred to the Subcommittee on Military Personnel.

Committees of jurisdiction 3