[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2095 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 2095

  To amend title 38, United States Code, to provide for uniformity in 
fees charged qualifying members of the Selected Reserve and active duty 
    veterans for home loans guaranteed by the Secretary of Veterans 
                                Affairs.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 7, 2001

 Mr. Evans (for himself and Mr. Reyes) introduced the following bill; 
        which was referred to the Committee on Veterans' Affairs

_______________________________________________________________________

                                 A BILL


 
  To amend title 38, United States Code, to provide for uniformity in 
fees charged qualifying members of the Selected Reserve and active duty 
    veterans for home loans guaranteed by the Secretary of Veterans 
                                Affairs.

    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 ``Reservist VA Home Loan Fairness Act 
of 2001''.

SEC. 2. UNIFORM HOME LOAN GUARANTY FEES FOR QUALIFYING MEMBERS OF THE 
              SELECTED RESERVE AND ACTIVE DUTY VETERANS.

    (a) In General.--Paragraph (2) of section 3729(b) of title 38, 
United States Code, is amended to read as follows:
    ``(2) The loan fee table referred to in paragraph (1) is as 
follows:

                            ``LOAN FEE TABLE
------------------------------------------------------------------------
            Type of loan                   Veteran        Other obligor
------------------------------------------------------------------------
(A)(i) Initial loan described in                 2.00                NA
 section 3710(a) to purchase or
 construct a dwelling with 0-down,
 or any other initial loan described
 in section 3710(a) other than with
 5-down or 10-down (closed before
 October 1, 2008)...................
------------------------------------------------------------------------
(A)(ii) Initial loan described in                1.25                NA
 section 3710(a) to purchase or
 construct a dwelling with 0-down,
 or any other initial loan described
 in section 3710(a) other than with
 5-down or 10-down (closed on or
 after October 1, 2008).............
------------------------------------------------------------------------
(B)(i) Subsequent loan described in              3.00                NA
 section 3710(a) to purchase or
 construct a dwelling with 0-down,
 or any other subsequent loan
 described in section 3710(a)
 (closed before October 1, 2008)....
------------------------------------------------------------------------
(B)(ii) Subsequent loan described in             1.25                NA
 section 3710(a) to purchase or
 construct a dwelling with 0-down,
 or any other subsequent loan
 described in section 3710(a)
 (closed on or after October 1,
 2008)..............................
------------------------------------------------------------------------
(C)(i) Loan described in section                 1.50                NA
 3710(a) to purchase or construct a
 dwelling with 5-down (closed before
 October 1, 2008)...................
------------------------------------------------------------------------
(C)(ii) Loan described in section                0.75                NA
 3710(a) to purchase or construct a
 dwelling with 5-down (closed on or
 after October 1, 2008).............
------------------------------------------------------------------------
(D)(i) Initial loan described in                 1.25                NA
 section 3710(a) to purchase or
 construct a dwelling with 10-down
 (closed before October 1, 2008)....
------------------------------------------------------------------------
(D)(ii) Initial loan described in                0.50                NA
 section 3710(a) to purchase or
 construct a dwelling with 10-down
 (closed on or after October 1,
 2008)..............................
------------------------------------------------------------------------
(E) Interest rate reduction                      0.50                NA
 refinancing loan...................
------------------------------------------------------------------------
(F) Direct loan under section 3711..             1.00                NA
------------------------------------------------------------------------
(G) Manufactured home loan under                 1.00                NA
 section 3712 (other than an
 interest rate reduction refinancing
 loan)..............................
------------------------------------------------------------------------
(H) Loan to Native American veteran              1.25                NA
 under section 3762 (other than an
 interest rate reduction refinancing
 loan)..............................
------------------------------------------------------------------------
(I) Loan assumption under section                0.50              0.50
 3714...............................
------------------------------------------------------------------------
(J) Loan under section 3733(a)......             2.25           2.25''.
------------------------------------------------------------------------


    (b) Conforming Amendments.--(1) Paragraph (4)(A) of such section is 
amended to read as follows:
            ``(A) The term `veteran' means any veteran eligible for the 
        benefits of this chapter.''.
    (2) Paragraph (4) of such section is amended by striking 
subparagraph (B) and redesignating subparagraphs (C), (D), (E), (F), 
(G), (H), and (I) as subparagraphs (B), (C), (D), (E), (F), (G), and 
(H), respectively.
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