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S 4208 117th Congress Senate Armed Forces and National Security Administrative law and regulatory procedures Congressional oversight Department of Veterans Affairs Government information and archives Housing finance and home ownership Veterans' loans, housing, homeless programs

Improving Access to the VA Home Loan Act of 2022

Introduced: May 12, 2022 Introduced by: Sullivan, Dan Republican · Alaska See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 13, 2022
Committee on Veterans' Affairs. Hearings held.
May 12, 2022
Read twice and referred to the Committee on Veterans' Affairs.
May 12, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Improving Access to the VA Home Loan Act of 2022

This bill requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.

What's happening now July 13, 2022

Committee on Veterans' Affairs. Hearings held.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1