Improving Access to the VA Home Loan Benefit Act of 2022

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 7735) to direct the Secretary of Veterans Affairs to update the appraisal requirements for certain loans guaranteed by the Department of Veterans Affairs, and for other purposes, as amended.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and insert extraneous material on H.R. 7735, as amended.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 7735, as amended, the Improving Access

to the VA Home Loan Benefit Act of 2022. It directs VA to make needed improvements to the appraisal portion of the program, where some veterans have experienced delays.

The veteran home loan benefit is one of the most important transition benefits afforded to servicemembers and veterans. Over the last few years, during an unprecedented housing market, we have seen how even slight delays in the program can put servicemembers, veterans, and their families behind conventional home loan users.

The legislation from Ranking Member Bost directs VA to look internally at where these delays might be and make needed changes to make veteran home buyers as competitive as possible in a challenging buying market.

During our committee's May markup, I was pleased the ranking member supported my amendment to his legislation, which would ensure that the changes VA is directed to make to the program only improve the product for veteran home buyers without weakening home-buyer protections such as inspections and appraisals.

Mr. Speaker, I urge my colleagues to support this legislation, and I reserve the balance of my time.

Mr. Speaker, I have no further speakers, I am prepared to close, and I reserve the balance of my time.

Mr. Speaker, I ask all my colleagues to join me in passing H.R. 7735, as amended, the Improving Access to the VA Home Loan Benefit Act of 2022, and I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise today in support of H.R. 7735, as amended, the Improving Access to the VA Home Loan Benefit Act of 2022.

Every veteran deserves the chance to own a home and pursue the American Dream. We know that with increased inflation and economic uncertainty brought on by the failed economic policies of the Biden administration, this dream is harder for veterans to achieve.

With interest rates on the rise, we should do whatever we can to make the VA home loan benefit the best option for veteran home buyers and sellers alike.

We have heard that the time it takes to complete a VA appraisal is a barrier to veterans who want to use the VA home loan program.

My bill would address that issue by requiring VA to update the regulations on how and when the appraisals must be completed.

While not eliminating traditional appraisals, my bill would make the process for veterans to purchase a home more efficient by shortening the appraisal timeline to match industry standards.

It would also require VA to consider when changes to the appraisal process would save a veteran money during the closing process.

Mr. Speaker, I want to thank the mortgage bankers and the other stakeholders for their work in crafting this bill to help make the VA loan more competitive.

With their support, we have been able to create a solution that I hope will help thousands of veterans.

Mr. Speaker, I thank Chairman Takano for his assistance in moving this bill forward, I urge all of my colleagues to support it, and I reserve the balance of my time.

Mr. Speaker, I encourage my colleagues to support this bill, and I yield back the balance of my time.

Mr. Speaker, I was participating in a Presidential Delegation to the Republic of Kenya and absent during the time of votes. Had I been present, I would have voted:

YEA on Roll Call No. 424, H. Res. 1339, on Ordering the Previous Question;

YEA on Roll Call No. 425, H. Res. 1339, on Agreeing to the Resolution;

YEA on Roll Call No. 426, Motion to Suspend the Rules and Pass Certain Bills (H.R. 1468, S. 4205, H.R. 7939, H.R. 7846, H.R. 7735, H.R. 5916, H.R. 8260, and H.R. 5865);

YEA on Roll Call No. 427, H.R. 884, the National Aviation Preparedness Plan Act;

YEA on Roll Call No. 428, H.R. 5774, the Expediting Disaster Recovery Act;

YEA on Roll Call No. 429, S. 2293, the Crew Act; and

YEA on Roll Call No. 430, S. 442, the BRIGHT Act.

Members Recorded Pursuant to House Resolution 8, 117th Congress

Baird (Bucshon)

Bass (Correa)

Bush (Bowman)

Cardenas (Correa)

Conway (Valadao)

DeSaulnier (Beyer)

Dingell (Kuster)

Fallon (Nehls)

Gaetz (Cawthorn)

Higgins (NY) (Pallone)

Johnson (TX) (Jeffries)

Jones (Beyer)

Kirkpatrick (Pallone)

Lawrence (Beatty)

Lawson (FL) (Evans)

Levin (MI) (Correa)

McEachin (Beyer)

Miller (WV)

(Kim (CA))

Moore (WI) (Beyer)

Newman (Beyer)

Payne (Pallone)

Pingree (Kuster)

Rice (NY) (Deutch)

Schiff (Deutch)

Schrader (Correa)

Scott (VA) (Beyer)

Scott, Austin (Cammack)

Stansbury (Pallone)

Stevens (Kuster)

Tlaib (Bowman)

Upton (Katko)

Wexton (Beyer)

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of the following bills, which were received from the House, en bloc: H.R. 6427, H.R. 7735, H.R. 8260.

I ask unanimous consent that the bills, en bloc, be considered read a third time and passed and that the motions to reconsider be considered made and laid upon the table, all en bloc.

Mr. Speaker, pursuant to section 11 of House Resolution 1339, I move to suspend the rules and pass the bills: H.R. 1468, S. 4205, H.R. 7939, H.R. 7846, H.R. 7735, H.R. 5916, H.R. 8260, and H.R. 5865.