I

107TH CONGRESS

1ST SESSION H. R. 2095

To amend title 38, United States Code, to provide for uniformity in fees

charged qualifying members of the Selected Reserve and active duty

veterans for home loans guaranteed by the Secretary of Veterans Affairs.

IN THE HOUSE OF REPRESENTATIVES

JUNE 7, 2001

Mr. EVANS (for himself and Mr. REYES) introduced the following bill; which

was referred to the Committee on Veterans’ Affairs

A BILL

To amend title 38, United States Code, to provide for uniformity in fees charged qualifying members of the Selected Reserve and active duty veterans for home loans

guaranteed by the Secretary of Veterans Affairs.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Reservist VA Home

5 Loan Fairness Act of 2001’’.
2

•HR 2095 IH

1 SEC. 2. UNIFORM HOME LOAN GUARANTY FEES FOR QUALI2 FYING MEMBERS OF THE SELECTED RE3 SERVE AND ACTIVE DUTY VETERANS.

4 (a) IN GENERAL.—Paragraph (2) of section 3729(b)

5 of title 38, United States Code, is amended to read as

6 follows:

7 ‘‘(2) The loan fee table referred to in paragraph (1)

8 is as follows:

‘‘LOAN FEE TABLE

Type of loan Veteran Other obligor

(A)(i) Initial loan described in section 3710(a) to purchase or

construct a dwelling with 0-down, or any other initial loan

described in section 3710(a) other than with 5-down or 10-

down (closed before October 1, 2008) .................................... 2.00 NA

(A)(ii) Initial loan described in section 3710(a) to purchase or

construct a dwelling with 0-down, or any other initial loan

described in section 3710(a) other than with 5-down or 10-

down (closed on or after October 1, 2008) ............................ 1.25 NA

(B)(i) Subsequent loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other subsequent loan described in section 3710(a) (closed before October 1, 2008) ........................................................................ 3.00 NA

(B)(ii) Subsequent loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other subsequent loan described in section 3710(a) (closed on or after

October 1, 2008) .................................................................... 1.25 NA

(C)(i) Loan described in section 3710(a) to purchase or construct a dwelling with 5-down (closed before October 1,

2008) ...................................................................................... 1.50 NA

(C)(ii) Loan described in section 3710(a) to purchase or construct a dwelling with 5-down (closed on or after October 1,

2008) ...................................................................................... 0.75 NA

(D)(i) Initial loan described in section 3710(a) to purchase or

construct a dwelling with 10-down (closed before October 1,

2008) ...................................................................................... 1.25 NA

(D)(ii) Initial loan described in section 3710(a) to purchase or

construct a dwelling with 10-down (closed on or after October 1, 2008) ........................................................................... 0.50 NA

(E) Interest rate reduction refinancing loan ............................. 0.50 NA

(F) Direct loan under section 3711 ........................................... 1.00 NA

(G) Manufactured home loan under section 3712 (other than

an interest rate reduction refinancing loan) .......................... 1.00 NA

(H) Loan to Native American veteran under section 3762

(other than an interest rate reduction refinancing loan) ....... 1.25 NA

(I) Loan assumption under section 3714 .................................. 0.50 0.50
3

•HR 2095 IH

‘‘LOAN FEE TABLE—Continued

Type of loan Veteran Other obligor

(J) Loan under section 3733(a) ................................................ 2.25 2.25’’.

1 (b) CONFORMING AMENDMENTS.—(1) Paragraph

2 (4)(A) of such section is amended to read as follows:

3 ‘‘(A) The term ‘veteran’ means any veteran eli4 gible for the benefits of this chapter.’’.

5 (2) Paragraph (4) of such section is amended by

6 striking subparagraph (B) and redesignating subpara7 graphs (C), (D), (E), (F), (G), (H), and (I) as subpara8 graphs (B), (C), (D), (E), (F), (G), and (H), respectively.

Æ