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S. 3068Senate118th Congress (2023-2025)Passed Senate

VA Home Loan Awareness Act of 2023

Sponsored by Mike BraunSen. Mike Braun (R-IN)
Introduced October 18, 2023

AI-Generated Summary

Updated January 20, 2026 at 12:20 PM UTC

The VA Home Loan Awareness Act of 2023 directs the HUD Director to require lenders to add a disclaimer on the Uniform Residential Loan Application that informs borrowers who served in the military they may qualify for a VA home loan. The goal is to increase awareness of VA loan options for eligible veterans and service members. The bill also mandates a GAO study to check whether at least 80% of lenders have added the disclaimer within a set timeframe.

Key Provisions

  • Within six months of enactment, the Director must require each lender to place a disclaimer below the military service question on the Uniform Residential Loan Application stating, "If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility."
  • Within eighteen months, the Comptroller General must conduct a study and report to Congress on whether at least 80% of lenders using the form have complied with the disclaimer requirement.

Legislative Activity

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8 earlier actions
HouseFloor Latest Action

Held at the desk.

July 15, 2024 • 2:03 PM

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SenateIntro Referral

Introduced in Senate

October 18, 2023

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

October 18, 2023

SenateCommittee

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Banking, Housing, and Urban Affairs Committee

March 12, 2024

SenateCommittee

Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.

Banking, Housing, and Urban Affairs Committee

July 11, 2024

SenateDischarge

Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S5147)

Banking, Housing, and Urban Affairs Committee

July 11, 2024

SenateFloor

Passed Senate without amendment by Unanimous Consent. (text: CR S5147)

July 11, 2024

SenateFloor

Message on Senate action sent to the House.

July 12, 2024

HouseFloor

Received in the House.

July 15, 2024 • 2:02 PM

HouseFloor

Held at the desk.

July 15, 2024 • 2:03 PM

Floor Debate

1 member

What members said about S. 3068 on the floor

1 Democrat
Sheldon Whitehouse
Sen. Sheldon WhitehouseD-RI · Jul 11, 2024

Mr. President, I ask unanimous consent that the Committee on Banking, Housing, and Urban Affairs be discharged from further consideration of S. 3068 and the Senate proceed to its immediate…

Record

Bill Text

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Engrossed in SenateIssued July 11, 2024

118th CONGRESS

2d Session

S. 3068

AN ACT

To require each enterprise to include on the Uniform Residential Loan Application a disclaimer to increase awareness of the direct and guaranteed home loan programs of the Department of Veterans Affairs, and for other purposes.

1.

Short title

This Act may be cited as the VA Home Loan Awareness Act of 2023.

2.

Military service question

(a)

In general

Subpart A of part 2 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, by regulation or order, require each enterprise to include a disclaimer below the military service question on the form known as the Uniform Residential Loan Application stating, If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility..

.

(b)

GAO study

Not later than 18 months after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study and submit to Congress a report on whether not less than 80 percent of lenders using the Uniform Residential Loan Application have included on that form the disclaimer required under section 1329 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as added by subsection (a).

Passed the Senate July 11 (legislative day, July 10), 2024.

Secretary