S138Referred to Committee

VA Home Loan Awareness Act of 2025

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-01-16
Introduced
26
Cosponsors
S
ⓘ
Type

Sponsor

Tim Sheehy
Tim Sheehy
Republican · MT · Senator
Votes with party: 75.7% (834 recorded votes)
Top industries funding sponsor:
  • Conservative Groups$0k

Full profile: /officials/S001232

Source: Congress.gov · FEC

Cosponsors (26)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-01-16

Source: Congress.gov

Committee Activity

Previously

Plain-English Summary

VA Home Loan Awareness Act of 2025 This bill requires mortgage lenders to include on the Uniform Residential Loan Application (i.e., Fannie Mae Form 1003 or Freddie Mac Form 65) a notification that applicants with military service may qualify for a Department of Veterans Affairs Home Loan. 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Housing and Community Development

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 138 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 138 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. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES January 16, 2025 Mr. Sheehy (for himself, Mr. Van Hollen, Mr. Cruz, Mr. Warnock, Mr. Budd, Mr. Whitehouse, Mr. Boozman, Mr. Sanders, Mr. Cramer, Mr. Welch, Mr. Schmitt, Mr. Kennedy, Mr. Tillis, Mr. Moreno, Ms. Rosen, and Ms. Klobuchar) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``VA Home Loan Awareness Act of 2025''. SEC. 2. MILITARY SERVICE QUESTION. (a) In General.--Subpart A of part 2 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541 et seq.) is amended by adding at the end the following: ``SEC. 1329. UNIFORM RESIDENTIAL LOAN APPLICATION. ``Not later than 6 months after the date of enactment of this section, the Director shall, by regulation or order, require each enterprise to include a disclaimer below the military service question on the form known as the Uniform Residential Loan Application stating, `If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility.'.''. (b) GAO Study.--Not later than 18 months after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study and submit to Congress a report on whether not less than 80 percent of lenders using the Uniform Residential Loan Application have included on that form the disclaimer required under section 1329 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as added by subsection (a). <all>
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