Central South Dakota News

U.S. Senator Mike Rounds has announced that his legislation aimed at improving homeownership opportunities for Native American veterans is now awaiting the President's signature to become law. The Native American Direct Loan (NADL) Improvement Act successfully passed through the Senate on December 12, 2024, and was approved by the House on December 16, 2024.

The NADL Improvement Act intends to reform the existing program managed by the Department of Veterans Affairs (VA), making it more accessible for Native American veterans residing on trust land. "Homeownership is part of the American dream and a key to building wealth," stated Rounds. He added that his legislation aims to enhance outreach and provide necessary assistance to help Native American veterans qualify for mortgage financing.

Key provisions of the act include allowing Native American veterans to refinance existing mortgages using the NADL program, expanding VA's outreach efforts in collaboration with local service providers familiar with trust land mortgage processes, and creating a relending program through which Native Community Development Financial Institutions can obtain loans via NADL and lend them to qualified veterans.

The push for this legislative change follows a Government Accountability Office (GAO) review requested by Rounds and SVAC Chairman Jerry Moran in June 2020. The GAO report published in April 2022 revealed that from Fiscal Years 2012 through 2021, only 89 loans were originated under NADL despite an estimated eligible veteran population of between 64,000 and 70,000.

Rounds initially introduced the NADL Improvement Act in July 2022 following these findings and reintroduced it in February 2023 during the current Congress session.