March 3, 2025
Mr. Van Orden introduced the following bill; which was referred to the Committee on Veterans' Affairs
To amend title 38, United States Code, to provide for limitations on the authority of the Secretary of Veterans Affairs to purchase certain loans guaranteed by the Department of Veterans Affairs to avoid default, and for other purposes.
Section 1. Short title
This Act may be cited as the Restoring the VA Home Loan Program in Perpetuity Act of 2025
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Sec. 2. Limitations on authority under Department of Veterans Affairs Servicer Purchaser Program
(a) Limitation
Section 3732(a)(2) of title 38, United States Code, is amended by adding at the end the following new subparagraph:
(C)
During any fiscal year, the Secretary may not exercise the authority under subsections (A) and (B) with respect to more than an aggregate of 250 loans.
(b) Conforming amendment
Section 3720(a)(5) of such title is amended by inserting before purchase
the following: subject to the limitation under section 3732(a)(2)(C) of this title,
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(c) Study on sale of loans
Not later than 180 days after the date of the enactment of this Act, the Secretary of Veterans Affairs shall submit to the Committees on Veterans’ Affairs of the Senate and House of Representatives a report containing the plan of the Secretary to sell to a non-Government entity each loan acquired by the Secretary under section 3732(a)(2) of title 38, United States Code, on or after May 31, 2024.