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VA RIN: 2900-AO65 Publication ID: Fall 2016 
Title: Loan Guaranty: Ability-to-Repay Standards and Qualified Mortgage Definition Under the Truth in Lending Act 

The interim final rule amended the Department of Veterans Affairs (VA) Loan Guaranty regulations to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, requiring that VA define the types of VA loans that are "qualified mortgages" for the purposes of the new Ability to Repay provisions of the Truth in Lending Act. This rule establishes which VA-guaranteed loans are to be considered "qualified mortgages" and have either safe harbor protection or the presumption that the borrower is able to repay a loan, in accordance with the new Ability to Repay provisions. The rule did not change VA’s regulations or policies with respect to how lenders are to originate mortgages, except to the extent lenders want to make qualified mortgages. VA will respond to public comments in the final rule.

Agency: Department of Veterans Affairs(VA)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 38 CFR 36.4300    38 CFR 36.4340    38 CFR 36.4500    38 CFR 36.4501   
Legal Authority: 38 U.S.C. 501    15 U.S.C. 1639C(a)(5)    15 USC 1639C(b)(3)(B)(ii)    38 U.S.C. 3710    38 U.S.C. 3720    38 U.S.C. 3733   
Legal Deadline:  None
Action Date FR Cite
Interim Final Rule  05/09/2014  79 FR 26620   
Interim Final Rule Effective  05/09/2014 
Interim Final Rule Comment Period End  06/09/2014 
Final Rule  03/00/2017 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
Public Comment URL:  
RIN Data Printed in the FR: No 
Agency Contact:
John Bell III
Assistant Director for Loan Policy and Valuation (262)
Department of Veterans Affairs
810 Vermont Avenue NW.,
Washington, DC 20420
Phone:202 632-8786