Little Apple Times

WASHINGTON, D.C. – Representative Tracey Mann (KS-01), along with co-chairs of the Congressional Real Estate Caucus Representatives Mark Alford (MO-04), Lou Correa (CA-46), and Brittany Pettersen (CO-08), led a collective effort urging the U.S. Department of Veterans Affairs (VA) to review and revise its policies on VA home loans for veterans using buyer brokers in real estate transactions. The letter, addressing recent changes in the real estate industry that could disadvantage veterans in competitive housing markets, was also signed by Representatives Derrick Van Orden (WI-03), Aaron Bean (FL-04), Juan Ciscomani (AZ-06), Wiley Nickel (NC-13), Brian Fitzpatrick (PA-01), Monica De La Cruz (TX-15), and Andy Ogles (TN-05). The Members requested a response from the Department by Friday, June 28.

“The prohibition of a veteran’s ability to pay the compensation of their own agent or broker using a VA loan can push them to a less favorable loan product, leave them unrepresented in the buying process, or out of the market entirely. VA buyers should have the same flexibility and rights as others in the real estate market,” stated the Members.

Rep. Mann emphasized, “Our support for our nation’s veterans and service members cannot stop when they take off their uniforms. For 80 years, the VA’s Home Loan Guaranty Program has helped position these brave men and women to provide homes for their families and build equity for future generations. Failing to match the VA’s policies with modern-day industry standards would only handcuff veterans in an already extremely challenging housing market. We must ensure that America’s heroes have access to the same flexibilities as other buyers. I’m hopeful that the VA will swiftly correct this simple flaw.”

Rep. Alford added, "We must ensure that our veterans have access to all necessary resources to make informed decisions in the real estate market. The current VA loan policies will hinder their ability to compete fairly and must be revisited. Our veterans deserve the right to secure the best possible representation during such significant transactions."

Rep. Correa noted, “Those who’ve offered to make the ultimate sacrifice for our freedom deserve the ability to be homeowners and continue on their journey to achieve the American Dream. The VA’s loan policies play a critical role in making that dream a reality for our veterans, and it’s past time that they’re revisited, and we allow veterans the flexibility they need during the incredibly complex, and increasingly competitive, home-buying process.”

The letter is also supported by the National Association of Realtors.

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