H.R. 1815 House Armed Forces and National Security
VA Home Loan Program Reform Act
BECAME LAW JUL 30, 2025
Became Law on Jul 30, 2025.
- House Introduced in House Mar 3, 2025
- House Referred to the House Committee on Veterans' Affairs. Mar 3, 2025
- House Referred to the Subcommittee on Economic Opportunity. Mar 10, 2025
- House Subcommittee Hearings Held Mar 10, 2025
- House Subcommittee Consideration and Mark-up Session Held Apr 9, 2025
- House Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote. Apr 9, 2025
- House Committee Consideration and Mark-up Session Held May 6, 2025
- House Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 119-104. May 19, 2025
- House Placed on the Union Calendar, Calendar No. 77. May 19, 2025
- House Mr. Bost moved to suspend the rules and pass the bill, as amended. May 19, 2025
- House Considered under suspension of the rules. (consideration: CR H2126-2129) May 19, 2025
- House DEBATE - The House proceeded with forty minutes of debate on H.R. 1815. May 19, 2025
- House Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2126-2127) May 19, 2025
- House On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2126-2127) May 19, 2025
- House Motion to reconsider laid on the table Agreed to without objection. May 19, 2025
- Senate Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs. May 20, 2025
- House Senate Committee on Veterans' Affairs discharged by Unanimous Consent. Jul 15, 2025
- House Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote. Jul 15, 2025
- Senate Passed Senate without amendment by Voice Vote. (consideration: CR S4373-4374) Jul 15, 2025
- Senate Message on Senate action sent to the House. Jul 16, 2025
- HousePresented to President. Jul 18, 2025
- HouseSigned by President. Jul 30, 2025
- House Latest actionBecame Public Law No: 119-31. Jul 30, 2025
Subjects
Accounting and auditingCongressional oversightGovernment lending and loan guaranteesReal estate businessVeterans' loans, housing, homeless programs
Committees
- Veterans' Affairs Committee
- Discharged From , Jul 16, 2025
- Referred To , May 20, 2025
- Veterans' Affairs Committee
- Reported By , May 19, 2025
- Markup By , May 6, 2025
- Referred To , Mar 3, 2025
Summary
VA Home Loan Program Reform ActThis bill authorizes the Department of Veterans Affairs (VA) to take certain actions in cases of default on home loans under the VA home loan program and establishes a partial claim program.First, the bill authorizes the VA to pay the holder of a loan guaranteed by the VA an amount necessary to avoid the foreclosure of the loan, provided that the holder of the loan and the veteran obligated on the loan execute documents to ensure the VA obtains a secured interest in the property covered by the loan.The VA must prescribe loss mitigation procedures to help prevent the foreclosure of such a home loan. The VA may not take specified administrative actions (e.g., consent to the modification of loan terms) until the sequence of mitigation options has been completed.Next, the bill establishes a five-year Partial Claim Program under which the VA may make a partial claim (purchase a portion of the indebtedness) on VA loans for primary residences that are in default or at imminent risk of default. Individuals who default on loans for which the VA has made a partial claim under this program must be liable to the VA for any loss resulting from the default.Finally, the VA must report to Congress on its strategy to ensure that veterans who purchase homes under the VA home loan program are not at a disadvantage when attempting to secure representation by a real estate agent or broker.
Summary as of: Introduced in House
Comments · 0
Please log in to post a comment.
Loading comments...