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VA RIN: 2900-AS08 Publication ID: Spring 2024 
Title: ●Loan Guaranty: Adjustable Rate Mortgages, Hybrid Adjustable Rate Mortgages, and Temporary Buydown Agreements 
Abstract:

The Department of Veterans Affairs (VA) proposes to amend its rules on interest rates for adjustable rate mortgage (ARM) loans and hybrid adjustable rate mortgage (h-ARM) loans. The proposed rule would ensure VA’s existing interest rate regulation reflects current statutory requirements regarding these loans, in a way that makes the loans a more viable, safe product for Veterans. The proposed rule would also solidify requirements for temporary buydown agreements to help Veterans temporarily reduce their interest rates and, in effect, lower their monthly mortgage payments for a specific period of time.

 
Agency: Department of Veterans Affairs(VA)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 38 CFR 36.4312    38 CFR 36.4301   
Legal Authority: 38 U.S.C. 3707    38 U.S.C. 3707A    38 U.S.C. 501    5 U.S.C. 605(b)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/00/2024 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.regulations.gov  
RIN Data Printed in the FR: No 
Agency Contact:
Stephanie Li
Assistant Director for Regulations, Legislation, Engagement, and Training
Department of Veterans Affairs
Veterans Benefits Administration, 810 Vermont Avenue NW,
Washington, DC 20420
Phone:202 461-9700
Email: stephanie.li@va.gov