VETERANS AFFAIRS LOAN INFORMED DISCLOSURE (VALID) ACT.

SEC. 603. VETERANS AFFAIRS LOAN INFORMED DISCLOSURE (VALID) ACT. (a) FHA Informed Consumer Choice Disclosure.— (1) Inclusion of information relating to va loans.—Subparagraph (A) of section 203(f)(2) of the National Housing Act (12 U.S.C. 1709(f)(2)(A)) is amended— (A) by striking “ratio in” and inserting“ratio— “(i) in” ; and (B) by adding at the end the following: “(ii) in connection with a loan guaranteed or insured under chapter 37 of title 38, United States Code, assuming prevailing interest rates; and” . (2) [12 U.S.C. 1709 note] Rule of construction.—Nothing in the amendments made by paragraph (1) shall be construed to require an original lender to determine whether a prospective borrower is eligible for any loan included in the notice required under section 203(f) of the National Housing Act (12 U.S.C. 1709(f)). (b) Military Service Question.— (1) In general.—Subpart A of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541 et seq.), as amended by section 601(a) of this Act, is amended by adding at the end the following: “(2) position the question described in paragraph (1) above the signature line of the Uniform Residential Loan Application.” . “SEC. 1330. [12 U.S.C. 4550] UNIFORM RESIDENTIAL LOAN APPLICATION “Not later than 6 months after the date of enactment of this section, the Director shall require each enterprise to— “(1) include a military service question on the form known as the Uniform Residential Loan Application to include selection options of ‘Yes’, ‘No’, and “Prefer Not To Answer; and” . (2) [12 U.S.C. 4550 note] Rulemaking.—Not later than 6 months after the date of enactment of this Act, the Director of the Federal Housing Finance Agency shall issue a rule to carry out the amendment made by this section.