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VA

RIN: 2900-AR05

Publication ID: Spring 2021

Title: Loan Guaranty: COVID-19 Veterans Assistance Partial Claim Payment Program
Abstract: The Department of Veterans Affairs (VA) establish the COVID-19 Veterans Assistance Partial Claim Payment program (COVID-VAPCP), a temporary program to help veterans return to making normal loan payments on a VA-guaranteed loan (guaranteed loan) after exiting a Coronavirus Aid, Relief, and Economic Security Act (CARES Act) forbearance period. Under this program, a servicer could consider a partial claim option after the servicer has evaluated all loss-mitigation options for feasibility. If the veteran qualifies and opts to move forward, VA would act as a mortgage investor of last resort by purchasing the amount of indebtedness necessary to bring the veteran’s guaranteed loan current. The veteran would then be able to return to making regular mortgage payments to his or her servicer while repaying VA for the amount of indebtedness under a second mortgage with extremely favorable terms.
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 36.4301 38 CFR 36.4320
Legal Authority: 38 U.S.C. 3720 38 U.S.C. 3732

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	12/09/2020	85 FR 79142
NPRM Comment Period End	01/08/2021
Final Action	06/00/2021

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: Yes
RIN Information URL: www.regulations.gov
RIN Data Printed in the FR: No
Agency Contact: Andrew Trevayne Assistant Director for Loan and Property Management (261) Department of Veterans Affairs 810 Vermont Avenue NW, Washington, DC 20420 Phone:202 632-8795 Email: andrew.trevayne@va.gov