VALID Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1932 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 1932

    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 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

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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 ``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 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:

``SEC. 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.
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