Improving Access to the VA Home Loan Act of 2022

Not later than 90 days after the date of the enactment of this Act, Secretary of Veterans Affairs shall prescribe updated regulations or program requirements to clarify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for purposes of a loan that is—

(1) guaranteed under chapter 37 of title 38, United States Code; and

(2) for any purpose described in section 3710(a) of such title.

In prescribing updated regulations or program requirements under subsection (a), the Secretary shall consider making changes applicable to—

(1) certification requirements for appraisers;

(2) minimum property requirements;

(3) the process for selecting and reviewing comparable sales;

(4) quality control processes;

(5) the assisted appraisal processing program of the Department of Veterans Affairs; and

(6) the use of waivers or other alternatives to existing appraisal processes.

In prescribing updated regulations or program requirements under subsection (a), the Secretary shall provide guidance for the use of the authority under section 3731(b)(3) of title 38, United States Code, taking into consideration—

(1) situations in which the use of such authority would provide cost savings for the borrower; and

(2) situations in which a traditional appraisal requirement could cause a delay substantial enough to jeopardize the ability of a borrower to complete a transaction.