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VA | RIN: 2900-AS08 | Publication ID: Fall 2024 |
Title: Loan Guaranty: Adjustable Rate Mortgages, Hybrid Adjustable Rate Mortgages, and Temporary Buydown Agreements | |
Abstract:
The Department of Veterans Affairs (VA) amends its rules on interest rates for adjustable rate mortgage (ARM) loans and hybrid adjustable rate mortgage (h-ARM) loans. This 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. This 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. |
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Agency: Department of Veterans Affairs(VA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final 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 |
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Timetable:
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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 |