I 111th CONGRESS 2d Session H. R. 6567 IN THE HOUSE OF REPRESENTATIVES December 21, 2010 Mrs. Maloney introduced the following bill; which was referred to the Committee on Veterans’ Affairs A BILL To amend title 38, United States Code, to improve and make permanent the Department of Veterans Affairs loan guarantee for the purchase of residential cooperative housing units, and for other purposes.

1.

Improvement of Department of Veterans Affairs loan guarantee for purchase of residential cooperative housing units

Section 3710 of title 38, United States Code, is amended— (1)in subsection (a)(12), by striking and before the date that is five years after that date,; and (2)in subsection (h), by— (A)by redesignating paragraphs (2) and (3) as paragraphs (4) and (5), respectively; and (B)by inserting after paragraph (1) the following new paragraph (2): (2)In prescribing regulations to carry out subsection (a)(12) the Secretary shall ensure that a loan for the purchase of stock or membership in a cooperative housing corporation that has been reviewed and approved by a lender approved by the Federal National Mortgage Association is not denied solely because the cooperative housing corporation— (A)is not preapproved by the Federal National Mortgage Association; or (B)is an affordable limited equity cooperative. .