Summary: H.R.6567 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.6567. Bill summaries are authored by CRS.

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Introduced in House (12/21/2010)

Revises the Department of Veterans Affairs (VA) program which guarantees veterans' loans for the purchase of residential cooperative housing to remove a provision which limits to five years after a loan is guaranteed the use of loan proceeds to purchase stock or membership in a cooperative housing corporation.

Directs the Secretary of Veterans Affairs to ensure that a loan used for such purchase in a corporation that has been reviewed and approved by a lender approved by the Federal National Mortgage Association (FNMA, a/k/a Fannie Mae) is not denied solely because such corporation: (1) is not preapproved by FNMA; or (2) is an affordable limited equity cooperative.