Native American Direct Loan Improvement Act

Senate Bill 4505 - Native American Direct Loan Improvement Act: Overview, Status, and Impact

Hozzl · 2022-12-29T18:33:46Z

Explore the details of Senate Bill 4505 Native American Direct Loan Improvement Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Native Americans. Stay informed on legislative developments.

12/29/2022, 6:33 PM

Congressional Summary of S 4505

Native American Direct Loan Improvement Act

This bill addresses housing and homeownership for Native American veterans.

Specifically, the bill revises the Native American Direct Loan program administered by the Department of Veterans Affairs (VA) to (1) allow Native American veterans to refinance existing mortgage loans; and (2) award grants to local service providers for conducting outreach, homebuyer education, housing counseling, risk mitigation, and other technical assistance to assist Native American veterans seeking to qualify for mortgage financing.

Additionally, the bill directs the VA to carry out a pilot program to address the feasibility and advisability of making direct housing loans to Native community development financial institutions for relending loan amounts to qualified veterans.

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Current Status of Bill S 4505

Bill S 4505 is currently in the status of Bill Introduced since July 12, 2022. Bill S 4505 was introduced during Congress 117 and was introduced to the Senate on July 12, 2022. Bill S 4505's most recent activity was Read twice and referred to the Committee on Veterans' Affairs. as of July 12, 2022

Bipartisan Support of Bill S 4505

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4505

Primary Policy Focus

Native Americans

Alternate Title(s) of Bill S 4505

Native American Direct Loan Improvement Act

A bill to amend title 38, United States Code, to improve the program for direct housing loans made to Native American veterans, and for other purposes.