A bill to require each enterprise to include on the Uniform Residential Loan Application a disclaimer to increase awareness of the direct and guaranteed home loan programs of the Department of Veterans Affairs, and for other purposes.

2/4/2025, 11:56 AM

Summary of Bill S 138

Bill 119 s 138, also known as the "Veterans Affairs Home Loan Awareness Act," is a proposed piece of legislation that aims to increase awareness of the direct and guaranteed home loan programs offered by the Department of Veterans Affairs (VA). The bill would require every enterprise to include a disclaimer on the Uniform Residential Loan Application, informing potential homebuyers about the VA's home loan programs.

The purpose of this bill is to ensure that veterans and their families are aware of the benefits and opportunities available to them through the VA's home loan programs. By including this disclaimer on the loan application, it is hoped that more veterans will take advantage of these programs and be able to achieve homeownership.

The bill does not specify any additional requirements or regulations for the VA's home loan programs, but simply aims to increase awareness and accessibility for those who have served in the military. It is a bipartisan effort to support and honor our veterans by providing them with the information they need to make informed decisions about their housing options. Overall, Bill 119 s 138 is a straightforward and non-controversial piece of legislation that seeks to support veterans and their families in achieving the American dream of homeownership. It is a small but important step in recognizing and honoring the sacrifices made by those who have served our country.

Congressional Summary of S 138

VA Home Loan Awareness Act of 2025

This bill requires mortgage lenders to include on the Uniform Residential Loan Application (i.e., Fannie Mae Form 1003 or Freddie Mac Form 65) a notification that applicants with military service may qualify for a Department of Veterans Affairs Home Loan.

Not later than 18 months after the enactment of the bill, the Government Accountability Office must study and report on whether at least 80% of lenders using the loan application form have met this requirement.

Current Status of Bill S 138

Bill S 138 is currently in the status of Bill Introduced since January 16, 2025. Bill S 138 was introduced during Congress 119 and was introduced to the Senate on January 16, 2025. Bill S 138's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of January 16, 2025

Bipartisan Support of Bill S 138

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 138

Primary Policy Focus

Alternate Title(s) of Bill S 138

A bill to require each enterprise to include on the Uniform Residential Loan Application a disclaimer to increase awareness of the direct and guaranteed home loan programs of the Department of Veterans Affairs, and for other purposes.

Comments

Hugo Teague

468

10 months ago

I ain't likin' this bill at all. Why should we have to put a disclaimer on the loan application? It's just gonna make things more complicated for everyone. I don't see how this is gonna help anyone in the long run. #notafan This bill is gonna make it harder for folks like me to get a loan. It's just gonna add more red tape and confusion to the process. #notcool

Gerardo Kumar

474

10 months ago

This bill is just another example of the government sticking their nose where it doesn't belong. It's ridiculous that they want to force enterprises to include some disclaimer on loan applications. Who even reads those things anyway? It's a waste of time and resources. I don't see how this is going to benefit anyone, especially me. It's just more unnecessary red tape that we have to deal with. It's frustrating and I'm not happy about it.