[Congressional Record Volume 168, Number 147 (Tuesday, September 13, 2022)]
[House]
[Pages H7768-H7769]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        IMPROVING ACCESS TO THE VA HOME LOAN BENEFIT ACT OF 2022

  Mr. TAKANO. 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.
  The Clerk read the title of the bill.
  The text of the bill is as follows:

                               H.R. 7735

       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.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
California (Mr. Takano) and the gentleman from Illinois (Mr. Bost) each 
will control 20 minutes.
  The Chair recognizes the gentleman from California.


                             General Leave

  Mr. TAKANO. 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.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from California?
  There was no objection.
  Mr. TAKANO. 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

[[Page H7769]]

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. BOST. 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.

                              {time}  1615

  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. TAKANO. Mr. Speaker, I have no further speakers, I am prepared to 
close, and I reserve the balance of my time.
  Mr. BOST. Mr. Speaker, I encourage my colleagues to support this 
bill, and I yield back the balance of my time.
  Mr. TAKANO. 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.
  The SPEAKER pro tempore. The question is on the motion offered by the 
gentleman from California (Mr. Takano) that the House suspend the rules 
and pass the bill, H.R. 7735, as amended.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds 
being in the affirmative, the ayes have it.
  Mr. ROSENDALE. Mr. Speaker, on that I demand the yeas and nays.
  The yeas and nays were ordered.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further 
proceedings on this motion will be postponed.

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