,i  #aagth ,,congress  #ast ,session    
,h4 ,r4 #dfeg  ,,in ,,the ,,house ,,of  
,,representatives  ,july #bb1 #bjba ,mr4
 ,levin of ,california introduced the   
following bill2 which was referred to   
the ,committee on ,veterans' ,affairs   
,a ,,bill  ,to amend title #ch1 ,united 
,states ,code1 to improve the accuracy  
of mortgage underwriting for home loans 
guaranteed by the ,department of        
,veterans ,affairs by ensuring that     
energy costs are included in the        
underwriting process1 and for other     
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,veteran ,home      
,energy ,savings ,act4  #b4 ,enhanced   
loan eligibility requirements  7a7 ,in  
general ,section #cgaj of title #ch1    
,united ,states ,code1 is amended--     
7#a7 in subsection 7g77#c77;,c71 by     
inserting 1 including with respect to   
the energy efficiency of the home for   
which the loan is to be guaranteed as   
described in subsection 7i7 before the  
period2 and  7#b7 by adding at the end  

the following new subsection3  7i7  7#a7
  7,a7 ,following the date on which the 
,secretary issues the guidance under    
paragraph 7#c71 in cases where a veteran
 provides to the ,secretary an energy   
efficiency report described in          
subparagraph 7,c7 for a home for which a
 loan is to be guaranteed1 the          
procedures established pursuant to      
subsection 7g77#c77;,c7 for ascertaining
 the monthly income required by a       
veteran to meet anticipated loan payment
 terms shall take into consideration the
 estimated energy cost savings expected 
for the veteran for the home1 including 
such cost savings relating to the cost  
of electricity1 natural gas1 oil1 and   
any other fuel regularly used to supply 
energy to the home4  7,b7 ,an energy    
efficiency report described in this     
subparagraph1 with respect to a home for
 which a loan is to be guaranteed1 means
 a report that--  7i7 estimates the     
expected energy cost savings specific to
 the home1 based on specific information

 about the home2  7ii7 is prepared in   
accordance with regulations prescribed  
by the ,secretary for purposes of this  
subsection2 and  7iii7 is prepared in   
accordance with-- 7,i7 the ,residential 
,energy ,service ,network's ,home       
,energy ,rating ,system 7commonly known 
as ,,hers7 by an individual certified by
 such ,network2 or  7,,ii7 other methods
 determined appropriate by the          
,secretary1 in consultation with the    
advisory committee under paragraph 7#b71
 including with respect to third-party  
quality assurance procedures4  7#b7 7,a7
 ,to assist the ,secretary in carrying  
out this subsection1 the ,secretary     
shall establish an advisory group       
consisting of individuals representing  
the interests of--  7i7 mortgage        
lenders2  7ii7 appraisers2  7iii7 energy
 raters and residential energy          
consumption experts2  7iv7 energy       
efficiency organizations2  7v7 real     
estate agents2  7vi7 home builders and  
remodelers2  7vii7 consumer advocates2  

7viii7 veterans' service organizations2 
and  7ix7 other persons determined      
appropriate by the ,secretary4  7,b7    
,the advisory group established under   
subparagraph 7,a7 shall not be subject  
to the ,federal ,advisory ,committee    
,act 7#e ,u4,s4,c4 ,app474  7#c7 ,the   
,secretary1 in consultation with the    
advisory group established under        
paragraph 7#b77;,a71 shall ensure that  
the procedures described in subsection  
7g77#c77;,c7 include guidance for       
lenders to carry out paragraph 7#a7 that
 uses clear instructions and standards4 
7#d7 ,the ,secretary shall ensure that  
marketing materials that the ,secretary 
provides to veterans with respect to    
loans guaranteed under this chapter     
include information regarding the use of
 energy efficiency reports under this   
subsection4  7#e7 ,not later than one   
year after the date on which the        
,secretary issues the guidance under    
paragraph 7#c71 and every year          
thereafter1 the ,secretary shall submit 

to ,congress and make publicly available
 a report that-- 7,a7 enumerates the    
number of loans guaranteed for which a  
veteran provided to the ,secretary an   
energy efficiency report1 including the 
number of such loans for which cost     
savings were taken into account pursuant
 to paragraph 7#a72 and  7,b7 of the    
number of loans enumerated under        
subparagraph 7,a71 an enumeration of the
 default rates and rates of foreclosure1
 including how such enumeration compares
 with the default rates and rates of    
foreclosure for guaranteed loans for    
which no energy efficiency report is    
provided4  4  7b7 ,clarification of     
requirements regarding energy efficiency
 standards ,section #cgjd7;f7 of such   
title is amended by striking such       
standards and inserting the following3  
the standards established under such    
section #aji1 as in effect on the date  
of such construction4