Bill > HR5979

This bill, the VA Home Loan Awareness Act of 2023, requires the Federal Housing Enterprises, such as Fannie Mae and Freddie Mac, to include a disclaimer below the military service question on the Uniform Residential Loan Application. The disclaimer will state that if the applicant has served in the military, they may qualify for a VA Home Loan and should consult their lender regarding eligibility. Additionally, the bill requires the Government Accountability Office (GAO) to study whether at least 80% of lenders using the Uniform Residential Loan Application have included the required disclaimer within 18 months of the bill's enactment. The purpose of this bill is to increase awareness of the VA's direct and guaranteed home loan programs among potential borrowers.