Congress has approved legislation to update veterans benefits, including an increase in the maximum VA loan guaranty to $60,000. The Veterans Benefits Act of 2001, H.R. 1291, is expected to be signed in law by President Bush. The higher VA guaranty, up from $50,750, will allow veterans to borrow up to $240,000 without a downpayment. Ginnie Mae late last month announced that it would pool VA loans up to the new Fannie/Freddie conforming loan limit,