VALID Act of 2025

119 S1932 IS: VA Loan Informed Disclosure Act of 2025 U.S. Senate 2025-06-03 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II 119th CONGRESS 1st Session S. 1932 IN THE SENATE OF THE UNITED STATES June 3, 2025 Mr. Van Hollen (for himself and Mr. Boozman ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the National Housing Act and the Housing and Community Development Act of 1992 to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers and to require a military service question on the Uniform Residential Loan Application, and for other purposes. 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.