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Public Law117th CongressArmed Forces and National Security
H.R. 7735Became Law

Improving Access to the VA Home Loan Benefit Act of 2022

This bill became law

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What it doesSummary public law (Dec 27, 2022)

Improving Access to the VA Home Loan Benefit Act of 2022

This act requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans. The act also requires the VA to submit to Congress recommendations for improving the delivery times for appraisals for VA loans and to take such recommendations into consideration in prescribing its updated regulations or requirements.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.

What just happenedDec 27, 2022

Became Public Law No: 117-308.

Who’s behind it

Rep. Bost, Mike [R-IL-12](R-IL)Sponsor
2 cosponsors1 D1 R
Read on Congress.gov
2cosponsors1committees25actions2related bills6subjects
  1. Dec 27, 2022PresidentE40000

    Became Public Law No: 117-308.

  2. Dec 27, 2022BecameLaw36000

    Became Public Law No: 117-308.

  3. Dec 27, 2022PresidentE30000

    Signed by President.

  4. Dec 27, 2022BecameLaw36000

    Signed by President.

  5. Dec 23, 2022FloorE20000

    Presented to President.

  6. Dec 23, 2022President28000

    Presented to President.

  7. Dec 20, 2022Floor

    Message on Senate action sent to the House.

  8. Dec 19, 2022Floor

    Passed Senate without amendment by Unanimous Consent. (consideration: CR S7302)

  9. Dec 19, 2022Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.

  10. Sep 15, 2022IntroReferral

    Received in the Senate, read twice.

  11. Sep 14, 2022FloorH37300

    Pursuant to section 11 of H. Res. 1339, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1468, as amended; H.R. 5865; H.R. 5916, as amended; H.R. 7735, as amended; H.R. 7846; H.R. 7939, as amended; H.R. 8260, as amended; and S. 4205. (consideration: CR H7814-7822; text: CR H7819-7820)

  12. Sep 14, 2022Floor8000

    Passed/agreed to in House: Pursuant to section 11 of H. Res. 1339, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1468, as amended; H.R. 5865; H.R. 5916, as amended; H.R. 7735, as amended; H.R. 7846; H.R. 7939, as amended; H.R. 8260, as amended; and S. 4205.

  13. Sep 14, 2022FloorH1B000

    Pursuant to the provisions of H. Res. 1339, proceedings on H.R. 7735 are considered vacated.

  14. Sep 13, 2022FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  15. Sep 13, 2022FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 7735.

  16. Sep 13, 2022FloorH30000

    Considered under suspension of the rules. (consideration: CR H7768-7769; text: CR H7768)

  17. Sep 13, 2022FloorH30300

    Mr. Takano moved to suspend the rules and pass the bill, as amended.

  18. Jul 19, 2022Committee

    Ordered to be Reported (Amended) by Voice Vote.

    Veterans' Affairs Committee
  19. Jul 19, 2022Committee

    Committee Consideration and Mark-up Session Held.

    Veterans' Affairs Committee
  20. Jul 18, 2022Committee

    Subcommittee on Economic Opportunity Discharged.

    Veterans' Affairs Committee
  21. May 18, 2022Committee

    Subcommittee Hearings Held.

    Economic Opportunity Subcommittee
  22. May 17, 2022Committee

    Referred to the Subcommittee on Economic Opportunity.

    Economic Opportunity Subcommittee
  23. May 12, 2022IntroReferralH11100

    Referred to the House Committee on Veterans' Affairs.

    Veterans' Affairs Committee
  24. May 12, 2022IntroReferralIntro-H

    Introduced in House

  25. May 12, 2022IntroReferral1000

    Introduced in House

Public LawDec 27, 202249

Improving Access to the VA Home Loan Benefit Act of 2022

This act requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans. The act also requires the VA to submit to Congress recommendations for improving the delivery times for appraisals for VA loans and to take such recommendations into consideration in prescribing its updated regulations or requirements.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.

Passed SenateDec 19, 202255

Improving Access to the VA Home Loan Benefit Act of 2022

This bill requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans. The bill also requires the VA to submit to Congress recommendations for improving the delivery times for appraisals for VA loans and to take such recommendations into consideration in prescribing its updated regulations or requirements.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.

Passed HouseSep 14, 202253

Improving Access to the VA Home Loan Benefit Act of 2022

This bill requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans. The bill also requires the VA to submit to Congress recommendations for improving the delivery times for appraisals for VA loans and to take such recommendations into consideration in prescribing its updated regulations or requirements.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.

Introduced in HouseMay 12, 2022

Improving Access to the VA Home Loan Benefit Act of 2022

This bill requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.

Improving Access to the VA Home Loan Benefit Act of 2022 — Informed