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.
[117th Congress Public Law 308]
[From the U.S. Government Publishing Office]



[[Page 136 STAT. 4393]]

Public Law 117-308
117th Congress

                                 An Act


 
  To direct the Secretary of Veterans Affairs to update the appraisal 
requirements for certain loans guaranteed by the Department of Veterans 
Affairs, and for other purposes. <<NOTE: Dec. 27, 2022 -  [H.R. 7735]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Improving Access 
to the VA Home Loan Benefit Act of 2022. 38 USC 3731 note.>> 
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Improving Access to the VA Home Loan 
Benefit Act of 2022''.
SEC. 2. <<NOTE: Deadline.>>  RECOMMENDATIONS FOR IMPROVING 
                    APPRAISAL DELIVERY TIMES.

    Not later than 90 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 
recommendations for improving the delivery times for appraisals for 
loans guaranteed by the Department of Veterans Affairs.
SEC. 3. UPDATE OF APPRAISAL REQUIREMENTS FOR CERTAIN LOANS 
                    GUARANTEED BY THE DEPARTMENT OF VETERANS 
                    AFFAIRS.

    (a) <<NOTE: Deadline.>>  Updated Regulations Required.--Not later 
than 180 days after the date of the enactment of this Act, the Secretary 
of Veterans Affairs shall prescribe updated regulations or program 
requirements to clarify when an appraisal is required, how an appraisal 
is to be conducted, and who is eligible to conduct an appraisal for a 
loan guaranteed by the Department of Veterans Affairs under chapter 37 
of title 38, United States Code, for any purpose described in section 
3710(a) of such title. In prescribing updated regulations or program 
requirements under this section, the Secretary shall take into 
consideration the recommendations of the Secretary submitted under 
section 2.

    (b) Waiver of Requirement for Certain Properties.--In prescribing 
updated regulations or program requirements under subsection (a), the 
Secretary shall consider making changes applicable to--
            (1) certification requirements for appraisers;
            (2) minimum property requirements;
            (3) the process for selecting and reviewing comparable 
        sales;
            (4) quality control processes;
            (5) the Assisted Appraisal Processing Program; and
            (6) the use of waivers or other alternatives to existing 
        appraisal processes.

[[Page 136 STAT. 4394]]

    (c) <<NOTE: Guidelines.>>  Desk Top Appraisals.--In prescribing 
updated regulations or program guidance under subsection (a), the 
Secretary shall provide guidance for the use of the authority under 
section 3731(b)(3) of title 38, United States Code, taking into 
consideration--
            (1) situations in which the use of such authority would 
        provide for cost savings for the borrower; and
            (2) situations in which a traditional appraisal requirement 
        could cause a delay substantial enough to jeopardize the ability 
        of a borrower to complete a transaction.
SEC. 4. DETERMINATION OF BUDGETARY EFFECTS.

    The budgetary effects of this Act, for the purpose of complying with 
the Statutory Pay-As-You-Go Act of 2010, shall be determined by 
reference to the latest statement titled ``Budgetary Effects of PAYGO 
Legislation'' for this Act, submitted for printing in the Congressional 
Record by the Chairman of the House Budget Committee, provided that such 
statement has been submitted prior to the vote on passage.

    Approved December 27, 2022.

LEGISLATIVE HISTORY--H.R. 7735:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 168 (2022):
            Sept. 13, considered in House.
            Sept. 14, prior proceedings vacated; considered and passed 
                House.
            Dec. 19, considered and passed Senate.

                                  <all>
Improving Access to the VA Home Loan Benefit Act of 2022
To direct the Secretary of Veterans Affairs to update the appraisal requirements for certain loans guaranteed by the Department of Veterans Affairs, and for other purposes.
Improving Access to the VA Home Loan Benefit Act of 2022
Improving Access to the VA Home Loan Benefit Act of 2022
Rep. Bost, Mike