As Chairman of the House Veterans’ Affairs Economic Opportunity Subcommittee, I applaud the Senate’s passage of my bill, H.R. 1815 - the VA Home Loan Program Reform Act.

This legislation establishes a permanent partial claims program within the VA Home Loan Program, bringing VA in line with other federal agencies that lend money for homes and replacing the fiscally irresponsible Biden administration-era VASP program. Veterans will be permitted to have the same programs non-veterans have available to them through FHA loans, allowing veterans who have fallen behind on their mortgages to receive federal assistance.

Under the Biden administration, the VA created the VASP program without consulting Congress, costing the American taxpayers $5.8 billion and endangering the entire VA home loan guarantee program. The time for faceless bureaucrats to run roughshod over elected officials is over. My bill offers a real solution to help every servicemember and veteran maintain the American Dream of homeownership. I am grateful to my Senate colleagues for passing this important bill, and I look forward to President Trump signing it into law.

"The VA Home Loan program has helped millions of veterans achieve the American Dream of owning a home. However, we know that veterans – like all Americans – can fall on hard times and may need a safety net in place to avoid foreclosure on their home. The VA Home Loan Program Reform Act addresses that need head on,” said Chairman Bost. “I want to thank my friend, fellow veteran, and our Subcommittee on Economic Opportunity Chairman, Rep. Van Orden, for his strong leadership on this issue on behalf of veterans and their families to modernize the VA Home Loan and create a partial claim program at VA. This is good legislation that will – without question – prevent veteran homelessness and make a real difference in veteran’s day-to-day lives. I look forward to seeing President Trump sign it into law.”

Read the bill text here.