,,ii #aah? ,,congress #a/ ,session ,s4 #ahe ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,janu>y #ca1 #bjbc ,mr4 ,r\nds 7= himself & ,mr4 ,te/]7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,vet]ans' ,affairs ,a ,,bill ,to am5d title #ch1 ,unit$ ,/ates ,code1 to improve ! program = direct h\s+ loans made to ,native ,am]ican vet]ans1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,native ,am]ican ,direct ,loan ,improvem5t ,act ( #bjbc4 #b4 ,improvem5ts to program = direct h\s+ loans made to ,native ,am]ican vet]ans by ! ,secret>y ( ,vet]ans ,affairs 7a7 ,g5]al au?orities & requirem5ts 7#a7 ,direct h\s+ loans to ,native ,am]ican vet]ans ,section #cgfb7;a7 ( title #ch1 ,unit$ ,/ates ,code1 is am5d$ to read z foll[s3 7a7 ,! ,secret>y may make a direct h\s+ loan to a ,native ,am]ican vet]an "u ?is sub*apt] if ! ,secret>y ensures ! foll[+3 7#a7 ,t ea* ,native ,am]ican vet]an to :om ! ,secret>y makes a direct h\s+ loan "u ?is sub*apt]-- 7,a7 holds1 possesses1 or pur*ases us+ ! proce$s ( ! loan a mean+ful int]e/ 9 a lot or dwell+ 7or bo?7 t is locat$ on tru/ l&2 & 7,b7 w pur*ase1 con/ruct1 or improve 7z ! case may be7 a dwell+ on ! lot us+ ! proce$s ( ! loan4 7#b7 ,t ea* su* ,native ,am]ican vet]an w convey to ! ,secret>y by an appropriate in/rum5t ! int]e/ ref]r$ to 9 p>agraph 7#a77;,a7 z security = a direct h\s+ loan "u ?is sub*apt]4 7#c7 ,t ! ,secret>y1 includ+ ! ,secret>y's employees or ag5ts1 may ent] ^u ! tru/ l& = ! purposes ( c>ry+ out su* actions z ! ,secret>y det]m9es are necess>y1 includ+-- 7,a7 to evaluate ! advisability ( ! loan2 7,b7 to monitor any pur*ase1 con/ruction1 or improvem5ts c>ri$ out us+ ! proce$s ( ! loan2 & 7,c7 to manage any s]vic+ or po/-=eclosure activities1 includ+ acquisition1 prop]ty inspections1 & prop]ty managem5t4 7#d7 ,t !re are e/abli%$ /&>ds & proc$ures t apply to ! =eclosure ( ! int]e/ convey$ by a ,native ,am]ican vet]an pursuant to p>agraph 7#b71 includ+-- 7,a7 proc$ures = =eclos+ ! int]e/2 & 7,b7 proc$ures = ! resale ( ! lot or dwell+ 7or bo?7 pur*as$1 con/ruct$1 or improv$ us+ ! proce$s ( ! loan4 7#e7 ,t ! loan is made 9 a responsible & prud5t mann]1 subject to /&>ds & proc$ures z are necess>y = ! reasonable protection ( ! f9ancial int]e/s ( ! ,unit$ ,/ates4 4 7#b7 ,memor&ums ( und]/&+1 agreem5ts1 & det]m9ations ,section #cgfb7;b7 ( su* title is am5d$ to read z foll[s3 7b7 7#a7 ,to c>ry out ! purpose ( subsection 7a71 ! ,secret>y may-- 7,a7 ent] into a memor&um ( und]/&+ ) a tribal organization1 o!r entity1 or individual2 7,b7 rely on agreem5ts or det]m9ations ( o!r ,f$]al ag5cies to gu>antee1 insure1 or make loans on tru/ l&2 & 7,c7 ent] into o!r agreem5ts or take su* o!r actions z ! ,secret>y det]m9es necess>y4 7#b7 ,if ! ,secret>y det]m9es t ! requirem5ts "u subsection 7a7 are n be+ en=c$ by a tribal organization1 o!r entity1 or individual t is a p>ty to any memor&um ( und]/&+1 agreem5t1 or det]m9ation describ$ 9 p>agraph 7#a71 ! ,secret>y may cease mak+ new direct h\s+ loans to ,native ,am]ican vet]ans "u ?is sub*apt] )9 ! area ( ! au?ority ( ! tribal organization1 o!r entity1 or individual 7z ! case may be74 4 7b7 ,direct loans to ,native ,am]ican vet]ans ,to ref9ance exi/+ mortgage loans ,section #cgfb7;h7 ( su* title is am5d$ to read z foll[s3 7h7 ,! ,secret>y may make direct loans to ,native ,am]ican vet]ans 9 ord] to enable su* vet]ans to ref9ance exi/+ mortgage loans = any ( ! foll[+ purposes3 7#a7 ,to ref9ance an exi/+ loan made "u ?is section1 if ! loan-- 7,a7 meets ! requirem5ts set =? 9 subp>agraphs 7,b71 7,c71 & 7,e7 ( p>agraph 7#a7 ( section #cgaj7;e7 ( ?is title2 7,b7 w be> an int]e/ rate at lea/ "o p]c5tage po9t less ?an ! int]e/ rate borne by ! loan be+ ref9anc$2 & 7,c7 complies ) p>agraphs 7#b7 & 7#c7 ( section #cgaj7;e7 ( ?is title1 except t = ! purposes ( ?is subsection ! ref]5ce to subsection 7a77#h7 ( section #cgaj ( ?is title 9 su* p>agraphs 7#b7 & 7#c7 %all be deem$ to be a ref]5ce to ?is subsection4 7#b7 ,to ref9ance an exi/+ mortgage loan n made "u ?is section on a dwell+ own$ & occupi$ by ! vet]an z ! vet]an's home1 if all ( ! foll[+ requirem5ts are met3 7,a7 ,! loan w be secur$ by ! same dwell+ z 0 ! loan be+ ref9anc$4 7,b7 ,! loan w provide ! vet]an ) a net tangible b5efit4 7,c7 ,! nature & condition ( ! prop]ty is su* z to be suitable = dwell+ purposes4 7,d7 ,! am\nt ( ! loan does n exce$ ei!r ( ! foll[+3 7i7 #ajj p]c5t ( ! reasonable value ( ! dwell+1 ) su* reasonable value det]m9$ "u ! proc$ures e/abli%$ by ! ,secret>y "u subsection 7d77#b74 7ii7 ,an am\nt equal to ! sum ( ! balance ( ! loan be+ ref9anc$ & su* clos+ co/s 7includ+ any disc\nt po9ts7 z may be au?oriz$ by ! ,secret>y to be includ$ 9 ! loan4 7,e7 ,not)/&+ subp>agraph 7,d71 if a loan is made = bo? ! purpose ( ?is p>agraph & to make en]gy effici5cy improvem5ts1 ! loan mu/ n exce$ ei!r ( ! foll[+3 7i7 #ajj p]c5t ( ! reasonable value ( ! dwell+ z improv$ = en]gy effici5cy1 ) su* reasonable value det]m9$ "u ! proc$ures e/abli%$ by ! ,secret>y "u subsection 7d77#b74 7ii7 ,! am\nt ref]r$ to "u subp>agraph 7,d77ii71 plus ! applicable am\nt specifi$ "u section #cgaj7;d77#b7 ( ?is title4 7,f7 ,! loan meets all o!r requirem5ts ! ,secret>y may e/abli% "u ?is sub*apt]4 7,g7 ,! exi/+ mortgage be+ ref9anc$ is a fir/ li5 on ! prop]ty & secur$ ( record4 7#c7 ,to ref9ance an exi/+ mortgage loan to repair1 alt]1 or improve a dwell+ own$ by ! vet]an & occupi$ by ! vet]an z ! vet]an's home1 if all ( ! foll[+ requirem5ts are met3 7,a7 ,! loan w be secur$ by ! same dwell+ z 0 ! loan be+ ref9anc$4 7,b7 ,! nature & condition ( ! prop]ty is su* z to be suitable = dwell+ purposes1 & ! repair1 alt]ation1 or improvem5t sub/antially protects or improves ! basic livability or utility ( su* prop]ty4 7,c7 ,! am\nt ( ! loan1 includ+ ! co/s ( repairs1 alt]ations1 & improvem5ts1 does n exce$ ei!r ( ! foll[+3 7i7 #ajj p]c5t ( ! reasonable value ( ! dwell+ z repair$1 alt]$1 or improv$1 ) su* reasonable value det]m9$ "u ! proc$ures e/abli%$ by ! ,secret>y "u subsection 7d77#b74 7ii7 ,an am\nt equal to ! sum (-- 7,i7 ! balance ( ! loan be+ ref9anc$2 7,,ii7 ! actual co/ ( repairs1 alt]ations1 or improvem5ts2 & 7,,iii7 su* clos+ co/s 7includ+ any disc\nt po9ts7 z may be au?oriz$ by ! ,secret>y to be includ$ 9 ! loan4 7,d7 ,! loan meets all o!r requirem5ts ! ,secret>y may e/abli% "u ?is sub*apt]4 7,e7 ,! exi/+ mortgage loan be+ ref9anc$ is a fir/ li5 on ! prop]ty & secur$ ( record4 4 7c7 ,expansion ( outrea* program on availability ( direct h\s+ loans = ,native ,am]ican vet]ans ,section #cgfb7;i77#b7 ( su* title is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,g7 ,pursuant to subsection 7g77#d71 assi/+ ,native ,am]ican vet]ans 9 qualify+ = mortgage f9anc+ by-- 7i7 p>tn]+ ) local s]vice provid]s1 su* z tribal organizations1 tribally designat$ h\s+ entities1 ,native community developm5t f9ancial in/itutions1 & nonpr(it organizations1 = conduct+ outrea*1 homebuy] education1 h\s+ c\nsel+1 & po/-pur*ase education2 & 7ii7 provid+ o!r te*nical assi/ance z ne$$4 7,h7 ,att5d+ conf]5ces & conv5tions conduct$ by ! network ( ,native community developm5t f9ancial in/itutions & o!r ,native ,am]ican home[n]%ip organizations to provide in=mation & tra9+ to ,native community developm5t f9ancial in/itutions ab\t ! availability ( ! rel5d+ program "u section #cgfb;,a ( ?is title4 4 7d7 ,adequate p]sonnel ,section #cgfb ( su* title is am5d$ by add+ at ! end ! foll[+ new subsection3 7k7 ,! ,secret>y %all assign a suffici5t numb] ( p]sonnel ( ! ,dep>tm5t d$icat$ to c>ry+ out ! au?ority ( ! ,secret>y "u ?is sub*apt]1 includ+ con/ruction & valuation speciali/s to assi/ ) issues unique to new con/ruction & r5ovations on tru/ l&4 4 7e7 ,def9itions ,section #cgfe ( su* title is am5d$-- 7#a7 9 p>agraph 7#a7-- 7,a7 by am5d+ subp>agraph 7,c7 to read z foll[s3 7,c7 is locat$ 9 ! ,/ate ( ,alaska )9 a region e/abli%$ "u section #g7;a7 ( ! ,alaska ,native ,claims ,settlem5t ,act 7#dc ,u4,s4,c4 #afjf7;a772 2 7,b7 9 subp>agraph 7,d71 by /rik+ ! p]iod at ! end & ins]t+ a semicolon2 & 7,c7 by add+ at ! end ! foll[+ new subp>agraphs3 7,e7 is def9$ by ! ,secret>y ( ! ,int]ior & recogniz$ by ! ,unit$ ,/ates z l& ov] :i* an ,indian ,tribe has gov]nm5tal dom9ion2 or 7,f7 is on any l& t ! ,secret>y det]m9es is provid$ to ,native ,am]ican vet]ans because ( _! /atus z ,native ,am]icans4 2 & 7#b7 by add+ at ! end ! foll[+ new p>agraphs3 7#f7 ,! t]m community developm5t f9ancial in/itution has ! mean+ giv5 t t]m 9 section #ajc ( ! ,community ,developm5t ,bank+ & ,f9ancial ,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4 #dgjb74 7#g7 ,! t]m ,indian ,tribe means any ,indian tribe1 b&1 nation1 or o!r organiz$ gr\p or community1 includ+ any ,alaska ,native village or regional or village corporation z def9$ 9 or e/abli%$ pursuant to ! ,alaska ,native ,claims ,settlem5t ,act 7#dc ,u4,s4,c4 #afja et seq471 :i* is recogniz$ z eligible = ! special programs & s]vices provid$ by ! ,unit$ ,/ates to ,indians because ( _! /atus z ,indians4 7#h7 ,! t]m ,native community developm5t f9ancial in/itution means any entity-- 7,a7 t has be5 c]tifi$ z a community developm5t f9ancial in/itution by ! ,secret>y ( ! ,treasury2 7,b7 t is n less ?an #ea p]c5t own$ or controll$ by ,native ,am]icans2 & 7,c7 = :i* n less ?an #ea p]c5t ( ! activities ( ! entity s]ve ,native ,am]icans4 7#i7 ,! t]m net tangible b5efit %all h su* mean+ z ! ,secret>y det]m9es appropriate1 b %all include ! ref9ance ( an int]im con/ruction loan4 7#aj7 ,! t]m o!r te*nical assi/ance means s]vices to assi/ a ,native ,am]ican vet]an to navigate ! /eps necess>y = secur+ a mortgage loan on tru/ l&1 includ+ pre-developm5t activities relat$ to utilities1 id5tify+ appropriate resid5tial con/ruction s]vices1 & obta9+ lease cle>ances & title /atus reports f ! applicable tribal organization or ! ,bureau ( ,indian ,affairs4 7#aa7 ,! t]m tribally designat$ h\s+ entity has ! mean+ giv5 t t]m 9 section #d ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dajc74 4 7f7 ,int]e/ rate r$uction f9anc+ loan ,section #cgbi7;b77#d77;,f7 ( su* title is am5d$ by /rik+ #cgfb7;h7 & ins]t+ #cgfb7;h77#a74 7g7 ,regulations ,section #cgfa ( su* title is am5d$ by add+ at ! end ! foll[+ new subsection3 7c7 ,! ,secret>y %all prescribe su* regulations z may be necess>y to c>ry out ?is sub*apt]4 4 #c4 ,native community developm5t f9ancial in/itution rel5d+ program 7a7 ,9 g5]al ,sub*apt] ,v ( *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ aft] section #cgfb ! foll[+ new section3 #cgfb;,a4 ,native community developm5t f9ancial in/itution rel5d+ program 7a7 ,purpose ,! ,secret>y may make a loan to a ,native community developm5t f9ancial in/itution = ! purpose ( all[+ ! in/itution to rel5d loan am\nts to qualifi$ ,native ,am]ican vet]ans1 subject to ! requirem5ts ( ?is section4 7b7 ,/&>ds 7#a7 ,9 g5]al ,! ,secret>y %all e/abli% /&>ds to be us$ 9 evaluat+ :e!r to make a loan to a ,native community developm5t f9ancial in/itution "u ?is section4 7#b7 ,requirem5ts ,9 e/abli%+ /&>ds "u p>agraph 7#a71 ! ,secret>y %all ensure t a ,native community developm5t f9ancial in/itution-- 7,a7 is able to orig9ate & s]vice loans = s+le-family homes2 7,b7 is able to op]ate ! rel5d+ program 9 a mann] consi/5t ) ! mission ( ! ,dep>tm5t to s]ve vet]ans2 & 7,c7 uses loan am\nts receiv$ "u ?is section only = ! purpose ( rel5d+1 z describ$ 9 subsection 7c71 to ,native ,am]ican vet]ans4 7c7 ,rel5d+ requirem5ts 7#a7 ,9 g5]al ,a ,native community developm5t f9ancial in/itution t receives a loan "u ?is section %all use ! loan am\nts to make loans to ,native ,am]ican vet]ans resid+ on tru/ l&4 7#b7 ,requirem5ts ,a loan to a ,native ,am]ican vet]an made by a ,native community developm5t f9ancial in/itution "u p>agraph 7#a7 %all-- 7,a7 be limit$ ei!r to ! purpose ( pur*ase1 con/ruction1 or improvem5t ( a dwell+ locat$ on tru/ l& or to ! ref9ance ( an exi/+ mortgage loan = a dwell+ on tru/ l&1 consi/5t ) ! requirem5ts ( section #cgfb7;h7 ( ?is title2 & 7,b7 comply ) su* t]ms & conditions z ! ,secret>y det]m9es are necess>y to protect aga9/ pr$atory l5d+1 includ+ ! int]e/ rate *>g$ on a loan to a ,native ,am]ican vet]an4 7d7 ,repaym5t ,a loan made to a ,native community developm5t f9ancial in/itution "u ?is section %all-- 7#a7 be payable to ! ,secret>y ^u su* t]ms & conditions z are prescrib$ 9 regulations pursuant to ?is sub*apt]2 & 7#b7 be> int]e/ at a rate ( "o p]c5t4 7e7 ,ov]sight ,subject to notice & opportunity = a he>+1 :5ev] ! ,secret>y f9ds ) respect to loans made "u subsection 7a7 or 7c7 t any ,native community developm5t f9ancial in/itution has fail$ to ma9ta9 adequate loan acc\nt+ records1 to demon/rate prop] ability to s]vice loans adequately1 or to ex]cise prop] cr$it judgm5t1 or t su* ,native community developm5t f9ancial in/itution has willfully or neglig5tly engag$ 9 practices o!rwise detrim5tal to ! int]e/ ( vet]ans or ( ! ,gov]nm5t1 ! ,secret>y may take su* actions z ! ,secret>y det]m9es necess>y to protect vet]ans or ! ,gov]nm5t1 su* z requir+ imm$iate repaym5t ( any loans made "u subsection 7a7 & ! assignm5t to ! ,secret>y ( loans made "u subsection 7c74 4 7b7 ,cl]ical am5dm5t ,! table ( sections at ! beg9n+ ( *apt] #cg ( su* title is am5d$ by ins]t+ aft] ! item relat+ to section #cgfb ! foll[+ new item3 #cgfb;,a4 ,native community developm5t f9ancial in/itution rel5d+ program44 7c7 ,native ,am]ican vet]an h\s+ loan program acc\nt ,section #cgfc ( su* title is am5d$ by add+ at ! end ! foll[+ new subsection3 7c7 ,( am\nts available 9 ! ,acc\nt1 ! ,secret>y may use = loans made "u section #cgfb;,a ( ?is title-- 7#a7 9 fiscal ye> #bjbd1 n m ?an #e1jjj1jjj2 & 7#b7 9 any fiscal ye> aft] fiscal ye> #bjbd1 an am\nt z det]m9$ necess>y by ! ,secret>y to meet ! dem& = su* loans4 4