I 
119TH CONGRESS 
1ST SESSION H. R. 1803 
To amend title 38, United States Code, to provide for the improvement 
of the Department of Veterans Affairs loan guarantee for purchase 
of residential cooperative housing units, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 3, 2025 
Ms. MENG (for herself and Ms. MALLIOTAKIS) 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 the 
improvement of the Department of Veterans Affairs loan 
guarantee for purchase of residential cooperative housing 
units, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fair Access to Co- 
ops for Veterans Act of 2025’’. 
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SEC. 2. IMPROVEMENT OF DEPARTMENT OF VETERANS AF-
FAIRS LOAN GUARANTEE FOR PURCHASE OF 
RESIDENTIAL 
COOPERATIVE 
HOUSING 
UNITS. 
(a) IN GENERAL.—Section 3710 of title 38, United 
States Code, is amended— 
(1) in subsection (a)(12), by striking ‘‘With re-
spect to a loan guaranteed after the date of the en-
actment of this paragraph and before the date that 
is five years after that date, to’’ and inserting ‘‘To’’; 
and 
(2) by striking subsection (h) and inserting the 
following new subsection (h): 
‘‘(h) A loan may not be guaranteed under subsection 
(a)(12) before the date on which the Secretary prescribes 
regulations setting forth requirements for underwriting, 
loan processing, project standards, share eligibility, valu-
ation, and other criteria the Secretary determines nec-
essary. The Secretary shall ensure that such regulations 
are consistent, to the extent the Secretary determines suit-
able, with the requirements of the Federal National Mort-
gage Association for the purchase or securitization of co-
operative housing loans.’’. 
(b) LOAN FEES.—Section 3729(b) of such title is 
amended— 
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(1) in paragraph (1), by striking ‘‘The amount’’ 
and inserting ‘‘Except as provided in paragraph (5), 
the amount’’; and 
(2) by adding at the end the following new 
paragraph: 
‘‘(5) In the case of an loan guaranteed under section 
3710(a)(12) of this title, the amount of the fee shall be— 
‘‘(A) the amount determined from the loan fee 
table under paragraph (2), plus 
‘‘(B) 3.25 percent of the total amount of the 
loan guaranteed, insured, or made, or, in the case of 
a loan assumption, the unpaid principal balance of 
the loan on the date of the transfer of the prop-
erty.’’. 
(c) 
AMOUNT
OF
LOAN.—Section 
3703(a)(1)(A)(i)(IV) of such title is amended by striking 
‘‘or (8)’’ and inserting ‘‘(8), or (12)’’. 
(d) TREATMENT AS RESIDENTIAL PROPERTY.—Such 
title is further amended— 
(1) in section 3704(c), by adding at the end the 
following new paragraph: 
‘‘(3) For purposes of this subsection, stock or mem-
bership in a cooperative housing corporation (as defined 
in section 216(b) of the Internal Revenue Code of 1986) 
for the purpose of entitling a person to occupy for dwelling 
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purposes a single family residential unit in a development, 
project, or structure owned or leased by such corporation 
shall be treated as residential property.’’; and 
(2) in section 3714, by adding at the end the 
following new subsection: 
‘‘(i) For purposes of this section, stock or member-
ship in a cooperative housing corporation (as defined in 
section 216(b) of the Internal Revenue Code of 1986) for 
the purpose of entitling a person to occupy for dwelling 
purposes a single family residential unit in a development, 
project, or structure owned or leased by such corporation 
shall be treated as residential property.’’. 
(e) AUTHORITY TO ADVERTISE.—The Secretary of 
Veterans Affairs shall use the authority of the Secretary 
under section 532 of title 38, United States Code, to ad-
vertise the availability of loan guarantees for housing co-
operative share loans under section 3710(a)(12) of such 
title and shall take such other appropriate actions as may 
be necessary, including by the issuance of guidance, to no-
tify eligible veterans, participating lenders, and interested 
realtors of the availability of such loan guarantees and the 
procedures and requirements that apply to the obtaining 
of such guarantees. 
(f) GUIDANCE.—Notwithstanding section 501 of such 
title, the Secretary of Veterans Affairs may issue guidance 
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to implement section 3710 of title 38, United States Code, 
as amended by subsection (a), before prescribing new reg-
ulations under such section. 
Æ 
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