H.R. 6320 · 114th Congress
Give Veterans Home Loan Choices Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
VeaseySponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Nov 15, 2016
Give Veterans Home Loan Choices Act of 2016
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, 2017, 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Give Veterans Home Loan Choices Act of 2016
Latest action (Dec 1, 2016): Referred to the Subcommittee on Military Personnel.
Policy area: Armed Forces and National Security · Origin: House · Introduced: Nov 15, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.