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

119th CONGRESS

1st Session

S. 1932

1. Short title
2. FHA informed consumer choice disclosure
3. Military service question

1. Short title

This Act may be cited as the "VA Loan Informed Disclosure Act of 2025" or "VALID Act of 2025".

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)).

3. Military service question

(a) In general - Subpart A of part 2 of subtitle A 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:

1329. Uniform residential loan application

Not later than 6 months after the date of enactment of this section, the Director shall require each enterprise to—

(1) - include a military service question on the form known as the Uniform Residential Loan Application; and

(2) - position the question described in paragraph (1) above the signature line of the Uniform Residential Loan Application.

(b) Rulemaking - Not later than 6 months after the date of enactment of this Act, the Director of the Federal Housing Finance Agency shall issue a rule to carry out the amendment made by this section.

119-S1932