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Fair Access to Co-ops for Veterans Act

2/8/2022, 11:17 PM

Congressional Summary of HR 5923

Fair Access to Co-ops for Veterans Act

This bill reauthorizes the Department of Veterans Affairs (VA) to guarantee a loan for a veteran's purchase of stock or membership in a cooperative housing corporation for the purpose of entitling the veteran to occupy a single family residential unit. The VA must ensure a loan for the purchase of stock or membership in a cooperative housing corporation is not denied if it has been reviewed and approved by a lender approved by Fannie Mae.

The bill also requires the VA to advertise the availability of loan guarantees for housing cooperative share loans to notify eligible veterans, participating lenders, and interested realtors of the availability of such loan guarantees and the procedures and requirements that apply to the obtaining of such guarantees.

Read the Full Bill

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Current Status of Bill HR 5923

Bill HR 5923 is currently in the status of Bill Introduced since February 18, 2020. Bill HR 5923 was introduced during Congress 116 and was introduced to the House on February 18, 2020.  Bill HR 5923's most recent activity was Referred to the House Committee on Veterans' Affairs. as of February 18, 2020

Bipartisan Support of Bill HR 5923

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5923

Primary Policy Focus

Armed Forces and National Security

Potential Impact Areas

- Administrative law and regulatory procedures
- Cooperative and condominium housing
- Department of Veterans Affairs
- Government information and archives
- Government lending and loan guarantees
- Housing finance and home ownership
- Veterans' loans, housing, homeless programs

Alternate Title(s) of Bill HR 5923

Fair Access to Co-ops for Veterans Act
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.
Fair Access to Co-ops for Veterans Act

Comments

Sponsors and Cosponsors of HR 5923

Carolyn B. Maloney
Carolyn B. Maloney
New YorkDemocrat
Eleanor Holmes Norton
Eleanor Holmes Norton
District of ColumbiaDemocrat

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