AN78 - Final Rule - Loan Guaranty Revised Loan Modification Procedures

Docket ID: VA-2011-VBA-0005
Agency: Department of Veterans Affairs (VA)
This document amends a Department of Veterans Affairs (VA)Loan Guaranty regulation related to modification of guaranteed housing loans in default. Specifically, changes are made to requirements related to maximum interest rates on modified loans and to items that may be capitalized in a modified loan amount. In addition, we are revising the regulation to clarify that the holder of a loan may seek VA approval for a loan modification that does not otherwise meet prescribed conditions. The amendments are intended to liberalize the requirements for modification of VA-guaranteed loans and provide holders more options for working with veterans to avoid foreclosure.
RIN: 2900-AN78
Impacts and Effects: None
CFR Citation: 38 CFR 36.4815
Priority: Substantive, Nonsignificant
UA and Regulatory Plan Information open glossary dialog  
Publication Period: Fall 2012
Agenda Stage of Rulemaking: Completed Action
Major Rule: No
Legal Authorities: 5 USC 501, 5 USC 553, 38 USC 3703
Legal Deadlines: None
Government Levels Affected: No
Federalism Implications: No
Unfunded Mandates: No
Requires Regulatory Flexibility Analysis: No
Small Entities Affected: No
International Impacts: No
Energy Effects: No
Included in Regulatory Plan: No
ActionDateFR Citation
Interim Final Rule02/07/201176 FR 6555
Interim Final Rule Comment Period End04/08/2011
Final Action12/20/201176 FR 78827
Interim Final Rule Effective01/19/2012
Docket Details open glossary dialog  
Related RINs: None
Related Dockets: None
Type: Rulemaking

Primary Documents

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Comment Period Closed
Apr 08, 2011 11:59 PM ET
Posted: 02/07/2011
ID: VA-2011-VBA-0005-0001
Comments Not Accepted
Posted: 12/20/2011
ID: VA-2011-VBA-0005-0009

Supporting Documents

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Comments Not Accepted
Supporting & Related Material
Posted: 12/20/2011
ID: VA-2011-VBA-0005-0010


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Comments Received*
Regulatory Timeline
Pre Rule
Current Stage
Proposed Rule
Current Stage
Final Rule
Current Stage
Current Stage
Agency Contact
Mike Frueh
Assistant Director for Loan Management (261)
202 461-9521
Veterans Benefits Administration, 1800 G Street NW, Washington, DC 20420
Washington, DC 20420
*This count refers to the total comment/submissions received on this docket, as of 11:59 PM yesterday. Note: Agencies review all submissions, however some agencies may choose to redact, or withhold, certain submissions (or portions thereof) such as those containing private or proprietary information, inappropriate language, or duplicate/near duplicate examples of a mass-mail campaign. This can result in discrepancies between this count and those displayed when conducting searches on the Public Submission document type. For specific information about an agency’s public submission policy, refer to its website or the Federal Register document.