[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7735 Enrolled Bill (ENR)]

        H.R.7735

                    One Hundred Seventeenth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

           Begun and held at the City of Washington on Monday,
          the third day of January, two thousand and twenty-two


                                 An Act


 
  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.

    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 ``Improving Access to the VA Home Loan 
Benefit Act of 2022''.
SEC. 2. RECOMMENDATIONS FOR IMPROVING APPRAISAL DELIVERY TIMES.
    Not later than 90 days after the date of the enactment of this Act, 
the Secretary of Veterans Affairs shall submit to the Committees on 
Veterans' Affairs of the Senate and House of Representatives 
recommendations for improving the delivery times for appraisals for 
loans guaranteed by the Department of Veterans Affairs.
SEC. 3. UPDATE OF APPRAISAL REQUIREMENTS FOR CERTAIN LOANS GUARANTEED 
BY THE DEPARTMENT OF VETERANS AFFAIRS.
    (a) Updated Regulations Required.--Not later than 180 days after 
the date of the enactment of this Act, the Secretary of Veterans 
Affairs shall prescribe updated regulations or program requirements to 
clarify when an appraisal is required, how an appraisal is to be 
conducted, and who is eligible to conduct an appraisal for a loan 
guaranteed by the Department of Veterans Affairs under chapter 37 of 
title 38, United States Code, for any purpose described in section 
3710(a) of such title. In prescribing updated regulations or program 
requirements under this section, the Secretary shall take into 
consideration the recommendations of the Secretary submitted under 
section 2.
    (b) Waiver of Requirement for Certain Properties.--In prescribing 
updated regulations or program requirements under subsection (a), the 
Secretary shall consider making changes applicable to--
        (1) certification requirements for appraisers;
        (2) minimum property requirements;
        (3) the process for selecting and reviewing comparable sales;
        (4) quality control processes;
        (5) the Assisted Appraisal Processing Program; and
        (6) the use of waivers or other alternatives to existing 
    appraisal processes.
    (c) Desk Top Appraisals.--In prescribing updated regulations or 
program guidance under subsection (a), the Secretary shall provide 
guidance for the use of the authority under section 3731(b)(3) of title 
38, United States Code, taking into consideration--
        (1) situations in which the use of such authority would provide 
    for cost savings for the borrower; and
        (2) situations in which a traditional appraisal requirement 
    could cause a delay substantial enough to jeopardize the ability of 
    a borrower to complete a transaction.
SEC. 4. DETERMINATION OF BUDGETARY EFFECTS.
    The budgetary effects of this Act, for the purpose of complying 
with the Statutory Pay-As-You-Go Act of 2010, shall be determined by 
reference to the latest statement titled ``Budgetary Effects of PAYGO 
Legislation'' for this Act, submitted for printing in the Congressional 
Record by the Chairman of the House Budget Committee, provided that 
such statement has been submitted prior to the vote on passage.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.