What does Preamble of S 1932 do?

This bill proposes amendments to the National Housing Act and the Housing and Community Development Act of 1992. The proposed changes aim to include information about VA home loans in the Informed Consumer Choice Disclosure for prospective FHA borrowers. The bill also seeks to require a military service question on the Uniform Residential Loan Application.

What does SHORT TITLE. of S 1932 do?

This bill is formally titled the VA Loan Informed Disclosure Act of 2025.

What does FHA INFORMED CONSUMER CHOICE DISCLOSURE. of S 1932 do?

This section amends section 203(f)(2) of the National Housing Act. The amendment inserts language regarding VA loans into the existing loan-to-value ratio requirement. The added language requires consideration of prevailing interest rates in connection with loans guaranteed or insured under chapter 37 of title 38, United States Code. The section clarifies that original lenders are not required to determine a borrower's eligibility for loans mentioned in the notice required under section 203(f) of the National Housing Act.

What does MILITARY SERVICE QUESTION. of S 1932 do?

This section amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. It requires the Director to mandate that each enterprise include a military service question on the Uniform Residential Loan Application. The military service question must be positioned above the signature line on the application. The Director of the Federal Housing Finance Agency must issue a rule to implement this amendment.

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VALID Act of 2025 — S. 1932

Last updated: 6/3/2025 · Introduced: 6/3/2025

Author: Chris Van Hollen (D-MD)

TL;DR (AI)

This bill requires the inclusion of information about VA home loans in disclosures for prospective FHA borrowers, considering prevailing interest rates.
It mandates that the Uniform Residential Loan Application include a question about military service, positioned above the signature line.
The Federal Housing Finance Agency Director must issue a rule to implement the military service question on loan applications.

119th Congressin committeeHR. 3694(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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