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Easier Credit Access for Veterans and Service Members

This bill aims to make it easier for veterans and service members to obtain home loans guaranteed by the Department of Veterans Affairs. It introduces a pilot program allowing lenders to assess creditworthiness using alternative data, such as rent or utility payment histories, instead of traditional credit scores. This could significantly help individuals with limited or insufficient credit history secure a home loan.
Key points
A pilot program will allow lenders to use alternative data (e.g., rent, utility payments) to assess creditworthiness for veterans and service members.
The goal is to increase the number of veterans and service members who can obtain VA-guaranteed home loans.
Participation in the program is voluntary for both lenders and applicants.
The Department of Veterans Affairs must approve alternative credit scoring models used by lenders.
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Additional Information
Print number: 117_HR_8758
Sponsor: Rep. Levin, Mike [D-CA-49]
Process start date: 2022-08-30
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Building Credit Access for Veterans Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8758.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-08-30.

What are the main provisions?

Key points include:

  • A pilot program will allow lenders to use alternative data (e.g., rent, utility payments) to assess creditworthiness for veterans and service members.
  • The goal is to increase the number of veterans and service members who can obtain VA-guaranteed home loans.
  • Participation in the program is voluntary for both lenders and applicants.
  • The Department of Veterans Affairs must approve alternative credit scoring models used by lenders.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Levin, Mike [D-CA-49].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Veterans' Affairs.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Benefits Real Estate