VALID Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3694 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 3694

    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.


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                    IN THE HOUSE OF REPRESENTATIVES

                              June 3, 2025

 Ms. Pettersen (for herself, Ms. Hageman, Ms. Williams of Georgia, and 
  Mrs. Kim) introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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)).

SEC. 3. MILITARY SERVICE QUESTION.

    (a) In General.--Subpart A of part 2 of subtitle A of title 13 of 
the Housing and Community Development Act of 1992 (12 U.S.C. 4541 et 
seq.) is amended by adding at the end the following:

``SEC. 1329. UNIFORM RESIDENTIAL LOAN APPLICATION.

    ``The Director shall, not later than 6 months after the date of the 
enactment of this section, require each enterprise to--
            ``(1) include a military service question on the form known 
        as the Uniform Residential Loan Application; and
            ``(2) position such question above the signature line of 
        the Uniform Residential Loan Application.''.
    (b) Rulemaking.--The Director of the Federal Housing Finance Agency 
shall, not later than 6 months after the date of the enactment of this 
section, issue a rule to carry out the amendment made by this section.
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