Federal Regulations Significant to Veterans [June 2007]

• Loan Guaranty: Loan Servicing and Claims Procedures Modifications - The Department of Veterans Affairs (VA) published a second supplemental notice in the Federal Register on June 1, 2007, regarding a proposal to amend its lLoan Guaranty regulations related to several aspects of the servicing and liquidating of guaranteed housing loans in default, and submission of guaranty claims by loan holders. This notice provides specific information regarding VA's proposal to phase-in implementation of the new electronic reporting requirement and other provisions in the proposed rule published February 18, 2005 (70 FR 8472). In addition, VA is taking this opportunity to address certain comments raised by some members of industry in response to VA's publication of the first supplemental notice to this rulemaking (November 27, 2006 (71 FR 68948)), and to provide further explanation of the ongoing development of VA's computer-based tracking system. VA is reopening the comment period for the limited purpose of accepting public comments concerning the supplemental information provided in this notice.
  Comments deadline: June 15, 2007. All comments previously received following publication of the proposed rule and the supplemental notice referenced above are being considered and do not need to be resubmitted.
  Address: Director, Office of Regulations Management (02D), Room 1068, 810 Vermont Avenue, NW, Washington, DC 20420; or fax comments to (202) 273-9026; or through http://www.regulations.gov. Comments should indicate that they are submitted in response to ``RIN 2900- AL65.''
  Contact: Mike Frueh, Assistant Director for Loan Management (261), Loan Guaranty Service, Veterans Benefits Administration, Department of Veterans Affairs, 810 Vermont Avenue, NW, Washington, DC 20420; telephone: (202) 273-7325.

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