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VA Home Loan Program Reform ActSection 4 › Proposal

A report on securing representation is due in 90 days

To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions in the case of a default on a home loan guaranteed by the Secretary, and for other purposes, section 4, Sec. 4. Written by .

A report on securing representation is due in 90 days

The document says “shallWho acts: Secretary of Veterans AffairsHow: statuteSec. 4 in the PDF
What the document says

“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 a report on the strategy of the Secretary to ensure that a veteran who seeks to purchase a home with a loan guaranteed under chapter 37 of title 38, United States Code, is not at a disadvantage when attempting to secure representation by a real estate agent or broker.”

To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions in the case of a default on a home loan guaranteed by the Secretary, and for other purposes, Sec. 4

The Secretary of Veterans Affairs has 90 days from enactment to give both veterans' affairs committees a report setting out the strategy for keeping a veteran using a guaranteed loan from being at a disadvantage in getting a real estate agent or broker to represent them.

What the document actually says

“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 a report on the strategy of the Secretary to ensure that a veteran who seeks to purchase a home with a loan guaranteed under chapter 37 of title 38, United States Code, is not at a disadvantage when attempting to secure representation by a real estate agent or broker.”

To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions in the case of a default on a home loan guaranteed by the Secretary, and for other purposes, Sec. 4
That sentence, in plain words

The VA must send Congress a report in 90 days. It must say how it will help veterans get an agent.

What this is about

An agent helps a person buy a home. The worry is that agents may turn down buyers who use a VA loan.

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