VALID Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3694 Introduced in House (IH)]

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119th CONGRESS 1st Session H. R. 3694

To amend the National Housing Act and the Housing and Community Development Act of 1992 to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers and to require a military service question on the Uniform Residential Loan Application, and for other purposes.

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IN THE HOUSE OF REPRESENTATIVES

June 3, 2025

Ms. Pettersen (for herself, Ms. Hageman, Ms. Williams of Georgia, and Mrs. Kim) introduced the following bill; which was referred to the Committee on Financial Services

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A BILL

To amend the National Housing Act and the Housing and Community Development Act of 1992 to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers and to require a military service question on the Uniform Residential Loan Application, 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 Loan Informed Disclosure Act of 2025'' or the ``VALID Act of 2025''.

SEC. 2. FHA INFORMED CONSUMER CHOICE DISCLOSURE.

(a) Inclusion of Information Relating to VA Loans.--Subparagraph (A) of section 203(f)(2) of the National Housing Act (12 U.S.C. 1709(f)(2)(A)) is amended-- (1) by inserting ``(i)'' after ``loan-to-value ratio''; and (2) by inserting before the semicolon the following: ``, and (ii) in connection with a loan guaranteed or insured under chapter 37 of title 38, United States Code, assuming prevailing interest rates''. (b) Rule of Construction.--Nothing in the amendments made by subsection (a) shall be construed to require an original lender to determine whether a prospective borrower is eligible for any loan included in the notice required under section 203(f) of the National Housing Act (12 U.S.C. 1709(f)).

SEC. 3. MILITARY SERVICE QUESTION.

(a) In General.--Subpart A of part 2 of subtitle A of title 13 of the Housing and Community Development 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.

``The Director shall, not later than 6 months after the date of the enactment of this section, require each enterprise to-- ``(1) include a military service question on the form known as the Uniform Residential Loan Application; and ``(2) position such question above the signature line of the Uniform Residential Loan Application.''. (b) Rulemaking.--The Director of the Federal Housing Finance Agency shall, not later than 6 months after the date of the enactment of this section, issue a rule to carry out the amendment made by this section. <all>