PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · May 24, 2007
Veteran Home Equity Conversation [sic] Mortgage Act of 2007 - Authorizes the Secretary of Veterans Affairs to guarantee any home equity conversion mortgage (mortgage) made to an elderly (62 or older) veteran homeowner, as long as the Secretary determines that the mortgage: (1) is likely to improve the financial situation or otherwise meet the special needs of the homeowner; (2) will include safeguards to offset special risks associated with such a mortgage; and (3) has appropriate terms to ensure its acceptance in the secondary mortgage market.
Allows such mortgage to be guaranteed only if it is secured by a dwelling, farm residence, or manufactured home permanently affixed to a lot that is owned and occupied by the elderly veteran homeowner.
Authorizes the Secretary to: (1) guarantee any mortgage given to refinance an existing home equity conversion mortgage guaranteed by the Secretary; (2) establish a mortgage guarantee fee; and (3) waive the mortgage guarantee fee in certain circumstances.
People & committees
Rep. Michaud, Michael H. [D-ME-2] · D–ME
Legislative record
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Subcommittee Hearings Held.
Referred to the Subcommittee on Economic Opportunity.
Referred to the Committee on Veterans' Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Veterans' Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Veterans' Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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