S. 4208

Improving Access to the VA Home Loan Act of 2022

This bill requires the Department of Veterans Affairs (VA) to update regulations, requirements, and guidance related to appraisals for housing loans guaranteed by the VA.

Specifically, such regulations or requirements must specify when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal for such loans.

The VA must also provide additional guidance for desktop appraisals, which are performed remotely using information gathered by third parties with whom a VA-approved appraiser has entered into an agreement for such appraisal. In updating such guidance, the VA must specifically take into account situations where (1) desktop appraisals provide cost savings for borrowers, and (2) a traditional appraisal requirement could cause time delays and jeopardize the completion of a transaction.