VA Loan Informed Disclosure Act of 2022 or the VALID Act of 2022
The bill requires a Federal Housing Administration mortgage notice to a veteran to contain comparative rate and fee information about loans available under the Veterans Affairs home loan program.
To amend the National Housing Act to include information regarding VA 
 home loans in the Informed Consumer Choice Disclosure required to be 
        provided to a prospective FHA borrower who is a veteran.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``VA Loan Informed Disclosure Act of 
2022'' or the ``VALID Act of 2022''.

SEC. 2. FHA INFORMED CONSUMER CHOICE DISCLOSURE.

    Subparagraph (A) of section 203(f)(2) of the National Housing Act 
(12 U.S.C. 1709(f)(2)(A)) is amended--
            (1) by inserting ``(i)'' after ``loan-to-value ratio''; and
            (2) by inserting before the semicolon the following: ``, 
        and (ii) in the case of a prospective borrower who is a veteran 
        (as such term is defined in section 101 of title 38, United 
        States Code), in connection with a loan guaranteed or insured 
        under chapter 37 of title 38, United States Code, assuming 
        prevailing interest rates''.
                                 <all>
VALID Act of 2022
To amend the National Housing Act to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to a prospective FHA borrower who is a veteran.
VA Loan Informed Disclosure Act of 2022
VALID Act of 2022
Rep. Kilmer, Derek