summary
Introduced
03/26/2025
03/26/2025
In Committee
03/26/2025
03/26/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
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.
AI Summary
This bill requires that the Uniform Residential Loan Application (URLA), which is a standard form used when applying for a mortgage, include a new disclaimer for individuals who indicate military service. Specifically, when an applicant answers "yes" to a military service question, the form must now include the statement: "If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility." The Department of Housing and Enterprises' Director must implement this change within 6 months of the bill's enactment. Additionally, the bill mandates that the Government Accountability Office (GAO) conduct a study within 18 months to determine whether at least 80% of lenders have added this disclaimer to their loan applications. The goal of this legislation is to increase awareness among veterans about their potential eligibility for VA (Department of Veterans Affairs) home loan programs, which offer favorable lending terms to military service members, veterans, and their families.
Committee Categories
Business and Industry
Sponsors (22)
Monica De La Cruz (R)*,
Joyce Beatty (D),
Nicholas Begich (R),
Dan Crenshaw (R),
Brian Fitzpatrick (R),
Lance Gooden (R),
Josh Gottheimer (D),
Al Green (D),
Josh Harder (D),
Julie Johnson (D),
Mike Lawler (R),
Tim Moore (R),
Joe Neguse (D),
Chris Pappas (D),
Brittany Pettersen (D),
August Pfluger (R),
Josh Riley (D),
Deborah Ross (D),
John Rutherford (R),
David Valadao (R),
Eugene Vindman (D),
George Whitesides (D),
Last Action
Referred to the House Committee on Financial Services. (on 03/26/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/2362/all-info |
| BillText | https://www.congress.gov/119/bills/hr2362/BILLS-119hr2362ih.pdf |
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