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.
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Timeline
Introduced in House
Referred to the House Committee on Veterans' Affairs.
Introduced in House
Referred to the House Committee on Veterans' Affairs.
Armed Forces and National Security
Administrative law and regulatory proceduresCooperative and condominium housingDepartment of Veterans AffairsGovernment information and archivesGovernment lending and loan guaranteesHousing finance and home ownershipVeterans' loans, housing, homeless programs
Fair Access to Co-ops for Veterans Act
USA116th CongressHR-5923| House
| Updated: 2/18/2020
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.
Administrative law and regulatory proceduresCooperative and condominium housingDepartment of Veterans AffairsGovernment information and archivesGovernment lending and loan guaranteesHousing finance and home ownershipVeterans' loans, housing, homeless programs