Recognizing the 100th Anniversary of the California Department of Veterans Affairs' Home Loan Program

Floor Speech

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Mr. TAKANO. Madam Speaker, I rise today to recognize and celebrate the 100th Anniversary of the California Department of Veterans Affairs' Home Loan Program. For a century, this loan assistance program has helped veterans and their families realize the American dream of homeownership after returning from their service to our country.

The Farm and Home Loan Program was created on May 30, 1921, to thank California veterans for their service and sacrifice in World War I. This program identified homeownership as a foundational step towards transitioning to civilian life, establishing credit, and building a strong financial future for veterans and their families. Over the course of the last hundred years, the Home Loan Program has aided veterans throughout times of war and economic crisis, including the Great Depression, the Great Recession, and most recently, the COVID-19 pandemic.

During its existence, the program has distributed more than $8.5 billion in loans to over 425,000 veterans and expanded to serve a growing and diverse veteran population. Today, the Home Loan Program is renowned for some of the lowest foreclosure rates in the country, personalized service, and a comprehensive homeowners insurance plan; and continues to deliver exceptional customer service to veterans who would otherwise not qualify for a loan.

Madam Speaker, I am proud that my home state has been a pioneer in assisting veterans to secure housing and I congratulate the California Department of Veterans Affairs on their exceptional work throughout the decades. The Home Loan Program has been a lifeline to thousands of veterans over the past 100 years, and I know that it will continue to help veterans achieve homeownership for the next 100 to come.

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