,i #aai? ,,congress #b;d ,session ,h4 ,r4 #icgi ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #ah1 #bjbf,mr4 ,v9dman 7= himself & ,mr4 ,hamadeh ( ,arizona7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,vet]ans' ,affairs ,a ,,bill ,to codify process+ timel9es = applications = ! assumption ( a loan gu>ante$ by ! ,dep>tm5t ( ,vet]ans ,affairs1 to require ! ,inspector ,g5]al ( ! ,dep>tm5t to conduct an assessm5t ( loan s]vic] compliance ) su* timel9es1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,af=dable ,homes = ,vet]ans ,act ( #bjbf4 #b4 ,codification ( #de-;cal5d>-day process+ requirem5t = applications = ,dep>tm5t ( ,vet]ans ,affairs home loan assumptions 7a7 ,9 g5]al ,*apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ aft] section #cgaj ! foll[+ new section3 #cgaj;,a4 ,process+ timel9es = loan assumptions 7a7 ,process+ requirem5t ,! s]vic] ( a loan gu>ante$ "u ?is *apt] %all process & r5d] a decision on a complete application = ! assumption ( su* a loan )9 #de cal5d> days ( receipt ( su* complete application4 ,! requirem5t "u ?is subsection %all apply reg>dless ( :e!r ! s]vic]-- 7#a7 is au?oriz$ to approve loan assumptions indep5d5tly2 or 7#b7 is requir$ to submit an application = a loan assumption to a regional loan c5t] ( ! ,dep>tm5t = approval4 7b7 ,complete application def9$ ,9 ?is section1 ! t]m complete application means an application t includes all docum5ts & in=mation requir$ by ,dep>tm5t regulations = review & approval4 4 7b7 ,con=m+ am5dm5t ,! table ( sections 9 *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ aft] ! item relat+ to section #cgaj ! foll[+ new item3 #cgaj;,a4 ,process+ timel9es = loan assumptions4 4 #c4 ,guidance on timel9es = s]vic]s ( loans gu>ante$ by ! ,secret>y ( ,vet]ans ,affairs ,n lat] ?an #cj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,vet]ans ,affairs %all update guidance & communications mat]ials = s]vic]s ( loans gu>ante$ "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 to cle>ly /ate t-- 7#a7 ! #de-;cal5d>-day process+ timel9e e/abli%$ 9 section #cgaj;,a ( title #ch1 ,unit$ ,/ates ,code1 z ins]t$ by section #c1 is a /atutory requirem5t2 7#b7 s]vic]s may n ?reat51 sugge/1 or imply to individuals :o are pot5tial assum]s ( su* loans t ! process+ timel9e w exce$ #de cal5d> days z a reason to disc\rage assumptions2 & 7#c7 any communication made by s]vic]s reg>d+ process+ timel9es mu/ be consi/5t ) ! /atutory requirem5t4 #d4 ,(fice ( ,inspector ,g5]al assessm5t 7a7 ,9 g5]al ,n lat] ?an #ij days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,inspector ,g5]al ( ! ,dep>tm5t ( ,vet]ans ,affairs1 9 consultation ) ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates1 %all conduct an assessm5t ( ea* ( ! foll[+3 7#a7 ,dur+ ! ?ree-ye> p]iod prec$+ ! date on :i* ! assessm5t is comm5c$1 ! ext5t to :i* s]vic]s ( loans gu>ante$ "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 process$ applications = assumptions ( loans gu>ante$ "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 )9 ! #de-;cal5d>-day timel9e requir$ by section #cgaj;,a ( title #ch1 ,unit$ ,/ates ,code1 z add$ by section #c4 7#b7 ,! av]age process+ "t = applications = assumption ( loans gu>ante$ "u su* *apt] t are submitt$ to s]vic]s ( su* loans & regional loan c5t]s ( ! ,dep>tm5t1 disaggregat$ by s]vic] & by region4 7#c7 ,! frequ5cy & nature ( communications by s]vic]s ( su* loans to individuals :o are pot5tial assum]s ( su* loans reg>d+ process+ timel9es1 includ+ in/ances 9 :i* s]vic]s sugge/$ or impli$ t process+ w\ld take long] ?an #de cal5d> days4 7#d7 ,! d5ial rates = applications to assume su* loans1 comp>$ to ! rates ( approval & )drawal ( su* applications1 includ+ an assessm5t ( :e!r ext5d$ timel9es may be disc\rag+ applicants4 7#e7 ,! comp>ative d5ial rates betwe5 applications to assume su* loans & applications = new loans gu>ante$ "u su* *apt]1 includ+ an assessm5t ( :e!r assumptions are be+ subject$ to high] or m /r+5t approval /&>ds ?an new loans4 7#f7 ,any evid5ce ( discrim9ation or disp>ate treatm5t ( individuals :o submit applications to assume su* loans comp>$ to individuals :o submit applications = new loans1 includ+ diff]5ces 9 und]writ+ /&>ds1 requir$ docum5tation1 cr$itwor?9ess ?re%olds1 or timel9es bas$ on borr[] *>act]i/ics4 7#g7 ,any b>ri]s )9 ! op]ations1 /aff+1 or sy/ems ( s]vic]s ( su* loans t prev5t timely process+ ( applications to assume su* loans4 7#h7 ,! adequacy ( ,dep>tm5t ov]sight ( ! compliance ( s]vic]s ( su* loans ) assumption process+ requirem5ts4 7b7 ,report to ,congress ,n lat] ?an #ah mon?s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,inspector ,g5]al ( ! ,dep>tm5t ( ,vet]ans ,affairs %all submit to ,congress a report conta9+-- 7#a7 ! f9d+s ( ! assessm5t requir$ by subsection 7a72 7#b7 an id5tification ( any s]vic]s ( loans gu>ante$ "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 t fail to meet ! #de-;cal5d>-day requirem5t "u section #cgaj;,a ( title #ch1 ,unit$ ,/ates ,code1 z add$ by section #c1 on a consi/5t basis2 7#c7 an analysis ( d5ial rates = applications to assume su* loans comp>$ to d5ial rates = applications = new loans gu>ante$ "u su* *apt]1 includ+ an id5tification ( any disp>ities2 7#d7 an analysis ( :e!r assumptions ( su* loans are subject to high] or m /r+5t und]writ+ /&>ds1 cr$itwor?9ess ?re%olds1 or docum5tation requirem5ts ?an new loans2 7#e7 f9d+s reg>d+ pot5tial discrim9ation or disp>ate treatm5t ( individuals :o submit applications to assume su* loans2 7#f7 recomm5dations = en=cem5t me*anisms to ensure ! compliance ( s]vic]s ( su* loans ) applicable requirem5ts2 & 7#g7 an id5tification ( any additional legislative or regulatory *anges ne$$ to improve ! process+ ( applications to assume su* loans & ensure equitable treatm5t comp>$ to applications = new loans4 7c7 ,public data ,! ,inspector ,g5]al %all make publicly accessible ! anonymiz$ data collect$ = purposes ( conduct+ ! assessm5t requir$ "u subsection 7a74