Loan Guaranty: Loan Servicing and Claims Procedures Modifications, 68498-68517 [06-9403]

Download as PDF hsrobinson on PROD1PC61 with PROPOSALS 68498 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules services, preventive services, restorative services, endodontic services, periodontic services, oral surgery services, and other general services. The following is the minimum TRDP covered dental benefit: (i) Diagnostic services. (A) Clinical oral examinations. (B) Radiographs and diagnostic imaging. (C) Tests and laboratory examinations. (ii) Preventive services. (A) Dental prophylaxis. (B) Topical fluoride treatment (office procedure). (C) Sealants. (D) Other preventive services. (E) Space maintenance. (iii) Restorative services. (A) Amalgam restorations. (B) Resin-based composite restorations. (C) Other restorative services. (iv) Endodontic services. (A) Pulp capping. (B) Pulpotomy and pulpectomy. (C) Root canal therapy. (D) Apexification and recalcification procedures. (E) Apicoectomy and periradicular services. (F) Other endodontic procedures. (v) Periodontic Services. (A) Surgical services. (B) Periodontal services. (vi) Oral surgery. (A) Extractions. (B) Surgical extractions. (C) Alveoloplasty. (D) Biopsy. (E) Other surgical procedures. (vii) Other general services. (A) Palliative (emergency) treatment of dental pain. (B) Therapeutic drug injection. (C) Other drugs and/or medicaments. (D) Treatment of postsurgical complications. * * * * * (3) Alternative course of treatment policy. The Director, TRICARE Management Activity, or designee, may establish, in accordance with generally accepted dental benefit practices, an alternative course of treatment policy which provides reimbursement in instances where the dentist and TRDP enrollee select a more expensive service, procedure, or course of treatment than is customarily provided. * * * * * * * * (g) Maximum coverage amounts. Each enrollee is subject to an annual maximum coverage amount for nonorthodontic dental benefits and, if an orthodontic benefit is offered, a lifetime maximum coverage amount for orthodontics as established by the VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 Director, TRICARE Management Activity, or designee. * * * * * (k) All levels of appeals and grievances established by the Contractor for internal review shall be exhausted prior to forwarding to TRICARE Management Activity for a final review. * * * * * * * * Dated: November 20, 2006. L.M. Bynum, Alternate OSD Federal Register Liaison Officer, Department of Defense. [FR Doc. E6–19975 Filed 11–24–06; 8:45 am] BILLING CODE 5001–06–P DEPARTMENT OF VETERANS AFFAIRS 38 CFR Part 36 RIN 2900–AL65 Loan Guaranty: Loan Servicing and Claims Procedures Modifications Department of Veterans Affairs. Supplemental notice of proposed rulemaking; reopening of comment period. AGENCY: ACTION: SUMMARY: This document provides supplemental notice regarding a proposal to amend the Department of Veterans Affairs (VA) Loan Guaranty regulations related to several aspects of the servicing and liquidating of guaranteed housing loans in default, and submission of guaranty claims by loan holders. It provides specific information regarding the computerbased system that VA proposes to implement as part of the loan servicing and claims procedure modifications in this rulemaking. VA is reopening the comment period for the limited purpose of accepting public comments concerning the supplemental information provided in this notice. DATES: Comments must be received on or before December 11, 2006. All comments previously received following publication of the proposed rule referenced above are being considered and do not need to be resubmitted. Written comments may be submitted through www.regulations.gov; by mail or hand-delivery to the Director, Regulations Management (00REG), Department of Veterans Affairs, 810 Vermont Ave., NW, Room 1068, Washington, DC 20420; or by fax to (202) 273–9026. Comments should indicate that they are submitted in response to ‘‘RIN 2900–AL65.’’; Copies ADDRESSES: PO 00000 Frm 00004 Fmt 4702 Sfmt 4702 of comments received will be available for public inspection in the Office of Regulation Policy and Management, Room 1063B, between the hours of 8 a.m. and 4:30 p.m., Monday through Friday (except holidays). Please call (202) 273–9515 for an appointment. In addition, during the comment period, comments may be viewed online through the Federal Document Management System (FDMS). Comments previously received regarding the notice of proposed rulemaking for RIN 2900–AL65, published February 18, 2005 (70 FR 8472), will still be considered in the rulemaking process and do not need to be resubmitted. FOR FURTHER INFORMATION CONTACT: Mike Frueh, Assistant Director for Loan Management (261), Veterans Benefits Administration, Department of Veterans Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, at 202–273– 7325. (This is not a toll-free telephone number.) SUPPLEMENTARY INFORMATION: VA published a notice of proposed rulemaking in the Federal Register on February 18, 2005 (70 FR 8472), to amend regulations concerning the servicing and claims submission requirements on VA-guaranteed home loans. Included in that proposed rule were requirements for reporting information to VA under new 38 CFR 36.4315a. Under the Revised Reporting Requirements preamble heading, 70 FR 8474–8475, VA stated that proposed § 36.4315a would require all loan holders to electronically report information to the Department by use of a computer system, and that VA would be providing more specific information on this system prior to implementation. As VA has progressed in developing the VA Loan Electronic Reporting Interface (VALERI) necessary to receive reports from loan servicers, it has more clearly defined the system events and data elements that would be reported under § 36.4315a and is now ready to submit for public comment this more detailed information on VALERI. VA identifies these events and data elements in the supplementary information that follows. Event Definitions (1) Loan paid in full—when the loan obligation has been fully satisfied by receipt of funds and not a servicing transfer. (2) Transfer of ownership—when the title holder of the property changes. (3) Release of liability—when an obligor has been released from liability. (4) Unauthorized transfer of ownership—when the servicer discovers E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules that the loan has been assumed without prior approval (only on loans originated on or after March 1, 1988). (5) SCRA relief filed—when any obligor on the loan requests or is deemed to be entitled to relief with regard to the loan under the Servicemembers Civil Relief Act (SCRA). (6) Partial release of security—when pursuant to 38 CFR 36.4324, the holder has released the lien on a part of the security for the loan. (7) Insurable loss occurred—when an insurable loss has occurred on the loan. (8) Servicing transfer (transferring servicer)—when a servicer of a loan transfers servicing to a new servicer. (9) Servicing transfer (receiving servicer)—when the new servicer boards the loan. (10) Electronic Default Notification (EDN)—when the loan becomes at least 61 days delinquent. (11) Delinquency status—when the holder notifies VA of any updates to the delinquency information on loans for which an EDN has been submitted. (12) Contact information change— when there is a change to the contact information for current owners or a property or mailing address change. (13) Occupancy status change—when there is a change in property occupancy status. (14) Bankruptcy filed—when any owner files a petition under the Bankruptcy Code. (15) Bankruptcy update—when a significant event related to the bankruptcy has occurred. (16) Loss mitigation letter sent—when the holder sends the loss mitigation letter to the borrower as required by 38 CFR 36.4346(g)(1)(iv). (17) Partial payment returned—when the holder returns a partial payment to the borrower. (18) Default cured/loan reinstated— when a previously reported default (i.e., an EDN was filed) has been cured and the loan reinstated. (19) Cure/reinstatement reversal— when a defaulted loan was reported ‘‘default cured/loan reinstated’’ and it must later be reversed. (20) Default reported to credit bureau—when the holder notifies any of the credit bureaus of a defaulted loan or loan termination. (21) Extenuating property circumstances—when extenuating property circumstances occur. (22) Repayment plan approved— when the holder approves a repayment plan. (23) Repayment plan infeasible— when the holder determines that a repayment plan is not feasible. (24) Special forbearance approved— when the holder approves a special forbearance agreement. (25) Special forbearance infeasible— when the holder determines that a special forbearance agreement is not feasible. (26) Loan modification approved— when the holder approves a loan modification. (27) Loan modification complete— when both the holder and the owner(s) have executed the modification agreement. (28) Loan modification infeasible— when the holder determines the loan modification option infeasible. (29) Compromise sale approved— when the holder approves a compromise sale. (30) Compromise sale complete— when a compromise sale closes. (31) Compromise sale infeasible— when the holder determines the compromise sale option infeasible. 68499 (32) Deed-in-lieu of foreclosure approved—when the holder approves a deed-in-lieu of foreclosure. (33) Deed-in-lieu of foreclosure complete—when the holder records the deed-in-lieu of foreclosure. (34) Deed-in-lieu of foreclosure infeasible—when the holder determines the deed-in-lieu of foreclosure option infeasible. (35) Foreclosure referral—when the loan is referred to legal counsel for foreclosure. (36) Foreclosure sale scheduled— when the foreclosure sale is scheduled. (37) Substantial equity case—when the holder determines that equity of at least 25 percent exists per 38 CFR 36.4319a(e). (38) Foreclosure sale postponed or cancelled—when the foreclosure sale is postponed or cancelled. (39) Results of sale—when the foreclosure sale is complete, the holder reports the results of the foreclosure sale. (40) Transfer of custody—when the holder notifies VA of the holder’s intent to convey the property. (41) Improper transfer of custody— when the holder discovers that the conveyance of the property to VA was improper. (42) Invalid sale results—when the foreclosure sale is invalid. (43) Changed sale results—when the foreclosure sale results were changed. (44) Confirmed sale date with no transfer of custody—when the loan is terminated, the property is not conveyed, and the property is located in a confirmation/ratification of sale state. (45) Basic claim information—when the holder files a claim under guaranty. (46) Refunding Settlement—when VA refunds a loan and the holder reports the tax and insurance information. DATA ELEMENT DEFINITIONS Data elements Business definition of data element Header information for all event reporting. VA loan number ............................. Header information .......................... Header information .......................... hsrobinson on PROD1PC61 with PROPOSALS Event name Date of the loan ............................. Original loan amount ..................... Header information .......................... Header information .......................... Property state abbreviation ........... Current servicer identification number. 12 position unique identifier for each loan guaranteed by VA. The VA Loan Number consists of a two-position numeric code for the regional office which has jurisdiction over the loan (OJ), a two-position numeric code for the regional office which originated the loan (OO), a one-position code for the type of loan (T), and a seven-position serial number or loan number (NNNNNNN). The format is OJOOTNNNNNNN. VALERI uses the twelve-digit VA loan number as the primary means of identifying loan data. Month, day, and year that the loan originated. Total amount of principal owed on the mortgage at loan origination before any payments are made on the loan. The state abbreviation of the expanded property address. Unique VA-issued number for the servicer location that is responsible for billing, collecting and disbursing payments, and filing reports on the VA loan. VALERI also uses this as secondary loan identification data, as needed, to identify records. VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00005 Fmt 4702 Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68500 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Header information .......................... Servicer loan number .................... Header information .......................... Monthly loan status update ............. Unique event ID ............................. Unpaid principal balance ............... Monthly loan status update ............. Payment due date (a.k.a. date of first uncured default). Date loan was paid in full .............. Date of transfer of ownership ........ Unique servicer-issued number given to the VA loan for record keeping on the servicer system. VALERI also uses this as secondary loan identification data, as needed, to identify records. Unique event identification number for event the servicer is reporting. Present portion of the loan not yet repaid, exclusive of interest or other charges. Month, day, and year of the earliest payment not fully satisfied by the proper application of available credits or deposits. Month, day, and year of full satisfaction of a guaranteed loan. Month, day, and year that loan is assumed by another party (date of settlement). Last name of individual assuming the loan; reported if an individual and not an entity is assuming the loan. First name of individual assuming the loan; reported if an individual and not an entity is assuming the loan Middle initial of individual assuming the loan; reported if an individual and not an entity is assuming the loan. Suffix (Jr., Sr., III, etc.), if any, of individual assuming loan; reported if an individual and not an entity is assuming the loan. Social security number of individual assuming loan; reported if an individual and not an entity is assuming the loan. Name of entity assuming loan, if applicable; reported if an entity and not an individual is assuming the loan. Taxpayer identification number of entity assuming the loan; reported if an entity and not an individual is assuming the loan. Last name of second individual assuming the loan; reported if there is a co-transferee. First name of second individual assuming the loan; reported if there is a co-transferee. Middle initial of second individual assuming the loan; reported if there is a co-transferee. Suffix (Jr., Sr., III, etc.), if any, of second individual assuming loan; reported if there is a co-transferee. Social security number of second individual assuming loan; reported if there is a co-transferee. Month, day, and year on which the former obligor is no longer responsible for the loan. Month, day, and year servicer discovers that a transfer of ownership occurred without prior approval by VA and/or servicer. Month, day, and year assistance under the SCRA was requested (explicit request or discovery of eligibility during servicing). Month, day, and year that the veteran became eligible for assistance under the SCRA. Month, day, and year the relief is expected to end pursuant to the requirements of the Act. Month, day, and year that the security document releasing a portion of the secured property is executed. Amount that is applied to the outstanding loan balance from the partial release of security; if the loan to value ratio is greater than or equal to 80 percent, the servicer must apply sufficient proceeds from the release to the outstanding loan balance to bring LTV to less than 80 percent. Amount offered for the portion of the security being released. Loan paid in full ............................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Transfer of ownership ..................... Release of liability ........................... Unauthorized transfer of ownership SCRA relief filed .............................. SCRA relief filed .............................. SCRA relief filed .............................. Partial release of security ............... Partial release of security ............... Partial release of security ............... Partial release of security ............... Social security number of transferee, if applicable. Name of entity assuming loan, if applicable. Taxpayer identification number, if applicable. Last name of co-transferee, if applicable. First name of co-transferee, if applicable. Middle initial of co-transferee, if applicable. Suffix of co-transferee, if applicable. Social security number of co-transferee, if applicable. Date of release .............................. Date servicer discovers unauthorized transfer. Date SCRA relief requested .......... Effective date of SCRA relief (can be prior to request date). Expected SCRA relief end date .... Date partial release of security document was executed. Amount of the proceeds from the partial release of security that are applied to the outstanding loan balance. Amount of consideration offered for the property. Date applied to principal ................ Partial release of security ............... Unpaid principal balance after application of proceeds. Value of remaining security ........... Insurable loss occurred ................... Type of damage ............................ Insurable loss occurred ................... hsrobinson on PROD1PC61 with PROPOSALS Partial release of security ............... Last name of transferee, if applicable. First name of transferee, if applicable. Middle initial of transferee, if applicable. Suffix of transferee, if applicable ... Fire Damage .................................. Insurable loss occurred ................... Neglect ........................................... Insurable loss occurred ................... Vandalized ..................................... Insurable loss occurred ................... Freeze ............................................ Insurable loss occurred ................... Storm ............................................. VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00006 Fmt 4702 Month, day, and year that proceeds from the partial release of security are applied to the loan balance. Loan balance that is outstanding after application of proceeds from the partial release of security. Appraised value of the remaining security after the release is completed. Type of property damage that resulted in an insurance claim being filed. Type of property damage that resulted in an insurance claim being filed is fire damage. Type of property damage that resulted in an insurance claim being filed is neglect. Type of property damage that resulted in an insurance claim being filed is property vandalism. Type of property damage that resulted in an insurance claim being filed is the result of a freeze. Type of property damage that resulted in an insurance claim being filed is caused by a storm. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68501 DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Insurable loss occurred ................... Flood .............................................. Insurable loss occurred ................... Unknown ........................................ Insurable loss occurred ................... Hurricane ....................................... Insurable loss occurred ................... Hail ................................................. Insurable loss occurred ................... Tornado ......................................... Insurable loss occurred ................... Wind ............................................... Insurable loss occurred ................... Mud/Landslide ............................... Insurable loss occurred ................... Earthquake .................................... Insurable loss occurred ................... Boiler Explosion ............................. Insurable loss occurred ................... Untypical Damage ......................... Insurable loss occurred ................... Insurable loss occurred ................... Date damage discovered .............. Date insurance claim filed ............. Insurable loss occurred ................... Total loss (Y/N) .............................. Servicing transfer (transferring servicer). Servicing transfer (transferring servicer). Servicing transfer (receiving servicer). Servicing transfer (receiving servicer). Electronic default notification .......... Servicing release date ................... Type of property damage that resulted in an insurance claim being filed is flood damage. Type of property damage that resulted in an insurance claim being filed is unknown. Type of property damage that resulted in an insurance claim being filed is caused by a hurricane. Type of property damage that resulted in an insurance claim being filed is hail damage. Type of property damage that resulted in an insurance claim being filed is tornado damage. Type of property damage that resulted in an insurance claim being filed is wind damage. Type of property damage that resulted in an insurance claim being filed is mud or landslide damage. Type of property damage that resulted in an insurance claim being filed is earthquake damage. Type of property damage that resulted in an insurance claim being filed was caused by a boiler explosion. Type of property damage that resulted in an insurance claim being filed is other than the typical specified reasons. Month, day, and year the damage is discovered by the servicer. Month, day, and year that the insurance claim for damage is filed, either by the borrower or the servicer. Decision made by the insurance company as to whether or not the property can be repaired. Month, day, and year that a servicer transfers responsibility for servicing a guaranteed loan to another servicer. Name of servicer receiving responsibility for servicing a guaranteed loan. Month, day, and year on which a servicer became responsible for servicing a guaranteed loan. Loan number associated with the loan on the previous servicer’s system. Month, day, and year of the first scheduled payment on the loan (per the loan instruments). Month, day, and year of the earliest payment not fully satisfied by the proper application of available credits or deposits. The first line of the expanded property address. The second line of the expanded property address. The unit number of the expanded property address. The city name of the expanded property address. A group of fields containing the zip code. The zip code suffix of the expanded property address. The state abbreviation of the expanded property address. Electronic default notification .......... Electronic Electronic Electronic Electronic Electronic Electronic Electronic default default default default default default default notification notification notification notification notification notification notification .......... .......... .......... .......... .......... .......... .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... hsrobinson on PROD1PC61 with PROPOSALS Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... VerDate Aug<31>2005 16:05 Nov 24, 2006 Name of new servicer ................... Date loan acquired ........................ Previous servicer loan number ...... Date of first payment on the original loan. Payment due date ......................... Property address line 1 ................. Property address line 2 ................. Property address unit number ....... Property address city ..................... Property address zip code ............ Property address suffix .................. Property address state abbreviation. Last name of current owner, if applicable. First name of current owner, if applicable. Middle initial of current owner, if applicable. Suffix of current owner, if applicable. Social security number of current owner; if current owner is an individual. Last name of current co-owner, if applicable. First name of current co-owner, if applicable. Middle initial of current co-owner, if applicable. Suffix of current co-owner, if applicable. Social security number of current co-owner; if applicable. Name of entity that is current owner, if applicable. Taxpayer identification number, if current owner is an entity. Mailing address line 1 (if different from property address). Jkt 211001 PO 00000 Frm 00007 Fmt 4702 Surname of the individual who currently owns the property; if owner is an individual and not an entity. First name of the individual who currently owns the property. First letter of the middle name, if any, of the individual who currently owns the property; if owner is an individual and not an entity. Suffix (Jr., Sr., III, etc.), if any, of the individual who currently owns the property; if owner is an individual and not an entity. Unique SSA-issued number assigned to the individual who currently owns the property; if owner is an individual and not an entity. Surname of the individual who currently co-owns the property, if applicable. First name of the individual who currently co-owns the property, if applicable. First letter of the middle name, if any, of the individual who currently co-owns the property, if applicable. Suffix (Jr., Sr., III, etc.), if any, of the individual who currently co-owns the property, if applicable. Unique SSA-issued number assigned to the individual who currently co-owns the property, if applicable. Name of entity that currently owns the property, if owner is an entity and not an individual. Unique IRS-issued number assigned to the entity who currently owns the property, if owner is an entity and not an individual. First line of the mailing address of current owners. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68502 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Event name Data elements Electronic default notification .......... Electronic default notification .......... Mailing address line 2 (if different from property address). Mailing address suffix (if different from property address). Mailing address unit number (if different from property address). Mailing address city (if different from property address). Mailing address zip code (if different from property address). Mailing address state abbreviation (if different from property address). Interest rate on loan ...................... Electronic default notification .......... Unpaid principal balance ............... Electronic default notification .......... Electronic default notification .......... Principal and interest (P&I) portion of monthly installment. Taxes and insurance (T&I) portion of monthly installment. Electronic default notification .......... Other portion of monthly installment. Electronic default notification .......... Late charges due ........................... Electronic default notification .......... Occupant of property ..................... Electronic default notification .......... Electronic default notification .......... Original veteran ............................. Tenant ............................................ Electronic default notification .......... Transferee ..................................... Electronic default notification .......... Vacant ............................................ Electronic default notification .......... Abandoned .................................... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... First phone number (obligor 1) ...... Phone number type for first phone number (obligor 1). Home ............................................. Work .............................................. Cell ................................................. Second phone number (obligor 1) Phone number type for second phone number (obligor 1). Home ............................................. Work .............................................. Cell ................................................. Phone number (obligor 2) ............. Phone number type (obligor 2) ..... Home ............................................. Work .............................................. Cell ................................................. Phone number 1 (other authorized party). Primary reason for default (servicer may report only one). Business failure ............................. Electronic default notification .......... Casualty loss ................................. Electronic default notification .......... Curtailment of income ................... Electronic default notification .......... Electronic default notification .......... Death of borrower .......................... Death of borrower’s family member. Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic default notification .......... Electronic Electronic Electronic Electronic Electronic default default default default default notification notification notification notification notification .......... .......... .......... .......... .......... Electronic Electronic Electronic Electronic Electronic Electronic Electronic Electronic Electronic default default default default default default default default default notification notification notification notification notification notification notification notification notification .......... .......... .......... .......... .......... .......... .......... .......... .......... hsrobinson on PROD1PC61 with PROPOSALS Electronic default notification .......... VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00008 Business definition of data element Fmt 4702 Second line of the mailing address of current owners. The zip code suffix of the mailing address. The unit number of the expanded mailing address. The city name of the expanded mailing address. A group of fields containing the zip code +4 of the expanded mailing address. The state abbreviation of the expanded mailing address. Rate of interest charged on the loan, expressed as a percentage, per the loan instruments. Present portion of the loan not yet repaid, exclusive of interest or other charges. Amount of principal and interest due monthly under the terms of the loan agreement. Amount of the tax and insurance deposit due monthly under the terms of the loan agreement and determined by the servicer in accordance with Real Estate Settlement Procedures Act (RESPA). Amount due monthly that does not pertain to principal and interest, taxes and insurance or late charges due under the terms of the obligation as of notice date (e.g., Homeowner Association (HOA) fees). Amount due as a result of penalties imposed by the servicer that a borrower must pay when a payment is missed or made after the due date under the terms of the obligation as of notice date. Status of who currently resides in the property securing the loan obligation, or reason why no one resides there. Individual who signed the loan documents and originated the loan. Individual who rents or leases the property securing the loan obligation. Individual who purchased the property and may have assumed the loan. Property is not occupied by anyone but appears to be maintained and is secure. Property is vacant, is not being maintained, is not offered for sale or rent, and there has been no contact with the current owner. First phone number (obligor 1). Phone number type for first phone number (obligor 1). Home. Work. Cell. Second phone number (obligor 1). Phone number type for second phone number (obligor 1). Home. Work. Cell. Phone number (obligor 2). Phone number type (obligor 2). Home. Work. Cell. Phone number 1 (other authorized party). Reason obligor is unable to or did not remit monthly payments. Reason for default is the occupation, work, or trade in which obligor is engaged did not generate enough funds for obligor to meet his financial obligations. Reason for default is the damage to the property as a result of a fire, storm, accident, flood, earthquake, or other catastrophic event. Reason for default is a reduction or the curtailment of obligor’s income from employment, investment, or other sources. Reason for default is that the obligor died. Reason for default is the death of obligor’s relative who was contributing towards the loan (directly or indirectly) and/or that obligor has incurred extraordinary expenses as a result of such death. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68503 DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Electronic default notification .......... Distant employment transfer ......... Electronic default notification .......... Energy/environmental cost ............ Electronic default notification .......... Excessive obligations .................... Electronic default notification .......... Fraud ............................................. Electronic default notification .......... Illness of borrower ......................... Electronic default notification .......... Illness of borrower’s family ............ Electronic default notification .......... Inability to rent property ................. Electronic default notification .......... Inability to sell property ................. Electronic default notification .......... Incarceration .................................. Electronic default notification .......... Marital difficulties ........................... Electronic default notification .......... Military service ............................... Electronic default notification .......... Payment adjustment ...................... Electronic default notification .......... Payment dispute ............................ Electronic default notification .......... Property problems ......................... Electronic default notification .......... Servicing problems ........................ Electronic default notification .......... Electronic default notification .......... Tenant not paying .......................... Transfer of ownership .................... Electronic default notification .......... Unemployment notification ............ Electronic default notification .......... Delinquency status .......................... Borrower never responded to outreach. Unpaid principal balance (UPB) .... Delinquency status .......................... Payment due date ......................... Delinquency status .......................... Principal and interest (P&I) portion of monthly installment, if changed. Taxes and insurance (T&I) portion of monthly installment, if changed. Other portion of monthly installment, if changed. Reason for default is the result of the borrower being transferred or relocated to a distant job location. Reason for default is the result of the borrower incurring excessive energy related costs or costs associated with removal of an environmental hazard in or near the property. Reason for default is obligor(s) incurred excessive debt in addition to the mortgage obligation or the mortgage payment has increased significantly. Reason for default is a legal dispute arising out of a fraudulent or illegal action that occurred in connection with the origination of the mortgage or at a later date. Reason for default is a serious illness that keeps the borrower from working and generating income, and/or the borrower has incurred extraordinary expenses as a result of the illness. Reason for default is the result of obligor(s) incurring extraordinary expenses as the result of the illness of a family member. Reason for default is obligor has insufficient income and/or assets to make the monthly mortgage payment and the rental property is vacant. Reason for default is obligor has insufficient income and/or assets to make the monthly mortgage payment and is unable to sell the property. Reason for default is the result of obligor being jailed or imprisoned, regardless of whether obligor is still incarcerated. Reason for default is problems associated with separation or divorce including dispute over payments during divorce settlement, reduction in income available to pay the mortgage debt, etc. Reason for default is the result of obligor being called into active duty status and the military pay is insufficient to make the monthly mortgage payment. Reason for default is the result of the borrower being unable to make new payments that resulted from an increase in the monthly payment. Reason for default is the result of a disagreement between obligor and the mortgage servicer about the amount of the mortgage payment, the acceptance of a partial payment, the application of previous payments, etc., that result in obligor refusing to make payments until the dispute is resolved. Reason for default is the result of the condition of the property such as substandard construction, expensive and extensive repairs required, etc. Reason for default is the result of obligor being dissatisfied with the servicer of the loan or with the fact that servicing has been transferred to a new servicer. Reason for default is the result of the obligor’s tenant not paying rent. Reason for default is the result of the obligor not making payments while sale of the property is pending. Reason for default is the result of a reduction in obligor’s income due to loss of job. Reason for default is unknown (unable to get contact or unable to determine the reason). Amount of principal due under the terms of the obligation as of payment due date. Month, day, and year of the earliest payment not fully satisfied by the proper application of available credits or deposits. Amount of principal and interest due monthly under the terms of the loan agreement, if changed from last report. Delinquency status .......................... hsrobinson on PROD1PC61 with PROPOSALS Delinquency status .......................... Delinquency status .......................... Late charges due ........................... Delinquency status .......................... Expenses incurred to date ............ Contact information change ............ Updated mailing address line 1 (if different from property address). VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00009 Fmt 4702 Amount of taxes and insurance due monthly under the terms of the loan agreement, if changed from last report. Amount due that does not pertain to principal and interest and/or taxes and insurance, due under the terms of the obligation (example is HOA fees), if changed from last report. Amount due as a result of penalties imposed by the servicer that a borrower must pay when a payment is missed or made after the due date under the terms of the obligation as of notice date. Any costs that have been paid by the servicer and can be charged to the loan. First line of the mailing address of current owners, if changed from last report. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68504 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Contact information change ............ Second line of the mailing address of current owners, if changed from last report. The unit number of the expanded mailing address, if changed from last report. Occupancy status change ............... Updated mailing address line 2 (if different from property address). Updated mailing address unit number (if different from property address). Updated mailing address city (if different from property address). Updated mailing address zip code (if different from property address). Updated mailing address suffix (if different from property address). Updated mailing address state abbreviation (if different from property address). Updated first phone number (obligor 1). Updated phone number type for first phone number (obligor 1). Home ............................................. Work .............................................. Cell ................................................. Updated second phone number (obligor 1). Updated phone number type for second phone number (obligor 1). Home ............................................. Work .............................................. Cell ................................................. Updated phone number (obligor 2) Updated phone number type (obligor 2). Home ............................................. Work .............................................. Cell ................................................. Updated phone number 1 (other authorized party). Date the change in occupancy status is discovered by servicer. Occupancy status .......................... Occupancy status change ............... Original veteran ............................. Occupancy status change ............... Occupancy status change ............... Tenant ............................................ Transferee ..................................... Occupancy status change ............... Vacant ............................................ Occupancy status change ............... Abandoned .................................... Bankruptcy filed ............................... Date bankruptcy filed ..................... Bankruptcy filed ............................... Type of bankruptcy ........................ Bankruptcy filed ............................... Chapter 7 ....................................... Bankruptcy filed ............................... Chapter 11 ..................................... Bankruptcy filed ............................... Chapter 12 ..................................... Bankruptcy filed ............................... Chapter 13 ..................................... Bankruptcy filed ............................... Bankruptcy filed ............................... Bankruptcy case number ............... Bankruptcy code ............................ Bankruptcy filed ............................... Bankruptcy filed ............................... Bankruptcy filed ............................... Only the obligor has filed .............. Only the co-obligor has filed ......... Both the obligor and co-obligor have filed. Contact information change ............ Contact information change ............ Contact information change ............ Contact information change ............ Contact information change ............ Contact information change ............ Contact information change ............ Contact Contact Contact Contact information information information information change change change change ............ ............ ............ ............ Contact information change ............ Contact Contact Contact Contact Contact information information information information information change change change change change ............ ............ ............ ............ ............ Contact Contact Contact Contact information information information information change change change change ............ ............ ............ ............ hsrobinson on PROD1PC61 with PROPOSALS Occupancy status change ............... VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00010 Fmt 4702 The city name of the expanded mailing address, if changed from last report. A group of fields containing the zip code of the expanded mailing address, if changed from last report. The zip code suffix of the mailing address, if changed from last report. The state abbreviation of the expanded mailing address, if changed from last report. First phone number (obligor 1). Phone number type for first phone number (obligor 1). Home. Work. Cell. Second phone number (obligor 1). Phone number type for second phone number (obligor 1). Home. Work. Cell. Phone number (obligor 2). Phone number type (obligor 2). Home. Work. Cell. Phone number 1 (other authorized party). Month, day, and year that occupancy status change was discovered by the servicer. Status of who currently resides in the property securing the loan obligation, or reason why no one resides there. Original veteran currently resides in the property securing the loan obligation. Individual rents or leases the property securing the loan obligation. A conveyance was made and an individual/entity currently resides in the property securing the loan obligation. Property is not occupied by anyone but appears to be maintained and is secure. Property is vacant, is not being maintained, and is not offered for sale or rent. Month, day, and year that obligor filed for protection under U.S. bankruptcy codes. Type of bankruptcy (chapter number) under which the obligor filed for protection. Chapter of the U.S. bankruptcy code providing for the sale of an obligor’s nonexempt property and assets and the distribution of the proceeds to creditors. Chapter of the U.S. bankruptcy code providing obligor or obligor’s failing firm protection against all creditors while being reorganized to pay off debts. Chapter of the U.S. bankruptcy code designed to give special relief to obligor if obligor is a family farmer with seasonal income. Chapter of the U.S. bankruptcy code allowing obligor to begin debt repayment without forfeiting property. Case number assigned by the bankruptcy court. Indicates whether the mortgagor, co-mortgagor, or both are filing bankruptcy. Indicates that only the obligor has filed for bankruptcy. Indicates that only the co-obligor has filed for bankruptcy. Indicates that both obligor and co-obligor have filed for bankruptcy Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68505 DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Bankruptcy filed ............................... Name(s) of debtor(s)–report all applicable. Alternate debtor ............................. Social security number (SSN)(s) of debtor(s). Name of obligor(s) that filed petition for relief under the U.S. bankruptcy code–report all applicable. This field indicates the second alternate debtor (if any) for the loan. Unique SSA-issued number or unique IRS-issued number (TIN) of the obligor(s) that filed a petition for relief under the U.S. bankruptcy code. This field indicates the second alternate debtor social security number (if any) for the loan. Any significant action taken during the bankruptcy process as defined in the eight following items. Date a petition was filed by servicer requesting relief from the stay so that servicer may proceed to terminate the loan. Date of the court order terminating bankruptcy proceedings, usually relieving the obligor of his/her obligation. Date of the court order terminating the case without either the entry of a discharge or a denial of discharge. Date of the court order permitting collection/termination actions against the obligor and/or the property that secures the loan. Month, day, and year loss mitigation (foreclosure avoidance) notice sent by the servicer. VA-authorized reason for the return of a payment of any amount less than the full amount due under the loan terms. Property is completely or partially tenant-occupied and rental payments are not being paid to servicer for application to the loan account. Payment is less than 50 percent of the total amount then due, and the amount has not been agreed to in a documented repayment plan. Amount tendered is in the form of a personal check and the borrower has been previously notified in writing that only cash or certified payments are acceptable. Foreclosure has been started with the first action required for foreclosure under local law. Payment is less than one full monthly installment, including escrow and late charges, and the amount has not been agreed to in a documented repayment plan. Payment is less than the amount agreed to in a documented repayment plan. Delinquency of any amount has continued for at least 6 months since the account first became delinquent and no documented repayment plan has been arranged. Holder’s lien position would be jeopardized by acceptance of partial payment. Month, day, and year that servicer returned the partial payment. Amount of partial payment that servicer returned. Bankruptcy filed ............................... Bankruptcy filed ............................... Bankruptcy filed ............................... Bankruptcy update .......................... Alternate debtor social security number (SSN). Bankruptcy event ........................... Bankruptcy update .......................... Date relief of stay filed .................. Bankruptcy update .......................... Date of discharge .......................... Bankruptcy update .......................... Date of dismissal ........................... Bankruptcy update .......................... Date stay lifted ............................... Loss mitigation letter sent ............... Date that the letter was sent ......... Partial payment returned ................. Reason why the partial payment was returned. Tenant payments not being forwarded. Partial payment returned ................. Partial payment returned ................. Partial payment returned ................. Less than 50 percent of total due and no repayment plan is in place. Personal checks not accepted ...... Partial payment returned ................. Foreclosure process started .......... Partial payment returned ................. Less than one monthly installment and no repayment plan in place. Partial payment returned ................. Less than repayment plan agreed amount. Unpaid delinquency over six months and no repayment plan in place. Servicer lien would be jeopardized Partial payment returned ................. Partial payment returned ................. Partial payment returned ................. Partial payment returned ................. Default cured/loan reinstated .......... Date partial payment returned ....... Amount of partial payment returned. Date loan reinstated ...................... Cure/reinstatement reversal ............ Date of reversal ............................. Cure/reinstatement reversal ............ Payment due date ......................... Cure/reinstatement reversal ............ Reason for reversal ....................... Cure/reinstatement reversal ............ NSF check ..................................... Cure/reinstatement reversal ............ Misapplication of funds .................. Cure/reinstatement reversal ............ Reporting error (includes erroneously reported servicing transferred). Date reported ................................. hsrobinson on PROD1PC61 with PROPOSALS Default reported to credit bureau .... Extenuating property circumstances Extenuating property circumstances Extenuating property circumstances VerDate Aug<31>2005 16:05 Nov 24, 2006 Date the extenuating property circumstance was discovered. Type of unusual property circumstance. Hazardous conditions or materials Jkt 211001 PO 00000 Frm 00011 Fmt 4702 Month, day, and year all delinquent amounts were fully repaid; a loan is current if the payment due date is the first day of the next month (as of the last day of the previous month). Month, day, and year the servicer discovered that a previously reported cure was in error. Month, day, and year the last full monthly obligation was applied; as of the date of the cure reversal. Basis for determination that all delinquent amounts thought to be fully repaid were not. Reason for reversal of cured default is that obligor’s bank account has insufficient funds available to pay the check. Reason for reversal of cured default is that funds were applied to the loan in error. Reason for reversal of cured default is that the servicer reported the cure in error. Month, day, and year that servicer reports to the credit bureau that obligor has failed to comply with the terms of the loan agreement. The date the property damage was discovered. Basis for determination that foreclosure process should be sped up or delayed due to the condition of obligor’s property. Reason for extenuating property circumstances is the presence of conditions or materials on the property which create an immediate or potential danger to the public health or safety or to the environment. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68506 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Data elements Business definition of data element Extenuating property circumstances Significant property deterioration ... Extenuating property circumstances Condemned ................................... Extenuating property circumstances Natural disaster ............................. Extenuating property circumstances Property seizure ............................ Extenuating property circumstances Demolished .................................... Extenuating property circumstances Other .............................................. Repayment plan approved .............. Date repayment plan approved ..... Repayment plan approved .............. Repayment plan approved .............. Plan start date (month and year) .. Estimated cure date ...................... Repayment plan infeasible .............. Date of determination .................... Repayment plan infeasible .............. Reason for infeasibility .................. Repayment plan infeasible .............. Unwilling borrower(s) ..................... Repayment plan infeasible .............. Unable to contact .......................... Repayment plan infeasible .............. Current owner not liable ................ Repayment plan infeasible .............. Property abandoned ...................... Repayment plan infeasible .............. Insufficient income ......................... Special forbearance approved ........ Estimated cure date ...................... Special forbearance infeasible ........ Date of determination .................... Special forbearance infeasible ........ Reason for infeasibility .................. Special forbearance infeasible ........ Unwilling borrower ......................... Special forbearance infeasible ........ Unable to contact .......................... Special forbearance infeasible ........ Insufficient income ......................... Special forbearance infeasible ........ Current owner not liable ................ Special forbearance infeasible ........ Property abandoned ...................... Special forbearance infeasible ........ hsrobinson on PROD1PC61 with PROPOSALS Event name No means to reinstate ................... Loan modification approved ............ Date modification of loan approved Loan modification complete ............ Date loan modification fully executed. Reason for extenuating property circumstances is property has deteriorated significantly. Reason for extenuating property circumstances is property is deemed legally unfit for occupancy or continued existence due to its physical defects or for other causes or the property is being acquired by a governmental body for public uses as per receipt of official notice from the appropriate local government office. Reason for extenuating property circumstances is the result of a natural disaster, such as fire, storm, accident, flood, earthquake, or other catastrophic event. Law enforcement officials have taken a property that has been used (a) in connection with or acquired by illegal activities or (b) in satisfaction of an unpaid judgment. Reason for extenuating property circumstances is property has been razed. Reason for extenuating property circumstances is other than one of the reasons listed. Month, day, and year servicer approved written agreement with the obligor for reinstatement of the loan through a schedule of increased payments. Month and year that repayment plan is documented to begin. Estimated month, day, and year the delinquency will be fully satisfied by the proper application of available credits or deposits resulting from the repay plan. Month, day, and year that servicer determines that a repay plan with the obligor is not a home retention option. Basis for determination that repay plan with the obligor is not a home retention option. Reason for infeasibility of the repay plan is that obligor does not agree to a repay plan. Reason for infeasibility of the repay plan is that servicer is not able to contact obligor to negotiate. Reason for infeasibility of the repay plan is current owner of the property is not the obligor on the loan. Reason for infeasibility of the repay plan is the property is vacant, is not being maintained, is not offered for sale or rent, and no contact with the borrower has been established. Reason for infeasibility of the repay plan is that obligor does not have enough income to meet the obligations under a repay plan. Estimated month, day, and year the delinquency will be fully satisfied by the proper application of available credits or deposits resulting from the proposed special forbearance. Month, day, and year that servicer determines that neither suspension nor reduction of obligor’s payments for one or more months is a home retention option. Basis for determination that special forbearance with the obligor is not a home retention option. Reason for infeasibility of the special forbearance is that obligor does not agree to special forbearance. Reason for infeasibility of the special forbearance is that servicer is not able to contact obligor to negotiate. Reason for infeasibility of the special forbearance is that obligor does not have enough income to meet the obligations under a special forbearance. Reason for infeasibility of the special forbearance is current owner of the property is not the obligor on the loan. Reason for infeasibility of the special forbearance is the property is vacant, is not being maintained, is not offered for sale or rent, and no contact with the homeowner has been established. Reason for infeasibility of the special forbearance is that reducing payments and/or forbearing payments will have no impact on the obligor’s inability to cure the delinquency and reinstate the loan. Month, day, and year that servicer approves a permanent change in one or more of the terms of the loan and usually includes re-amortization of the balance due. Month, day, and year that servicer and borrower execute the modification agreement thereby completing a permanent change in one or more of the terms of the loan that results in loan reinstatement. VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00012 Fmt 4702 Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68507 DATA ELEMENT DEFINITIONS—Continued Data elements Business definition of data element Loan modification complete ............ Modified loan amount .................... Loan modification complete ............ Term .............................................. Loan modification complete ............ Loan modification complete ............ Modified loan maturity date ........... Interest rate ................................... Loan modification complete ............ Loan modification complete ............ Date of first payment ..................... New principal and interest (P&I) payment. Date of determination .................... Total amount of principal owed on the mortgage after the loan modification and before any payments are made; only unpaid principal, accrued interest, deficits in the taxes and insurance impound accounts, and advances required to preserve the lien position, such as HOA fees, special assessments, water and sewer liens, etc., may be included in the modified indebtedness; late fees and other charges may not be capitalized. Number of months over which the unpaid balance of the modified loan will be repaid. Month, day, and year that modified loan will be paid in full. Rate of interest charged on the loan, expressed as a percentage, per the modified loan instruments. Month, day, and year that first installment on modified loan is due. Monthly amount due (for principal and interest) on the modified loan. Loan modification infeasible ............ Loan modification infeasible ............ Reason for infeasibility .................. Loan modification infeasible ............ Unwilling borrower ......................... Loan modification infeasible ............ Unable to contact .......................... Loan modification infeasible ............ Insufficient income ......................... Loan modification infeasible ............ Insufficient borrower contribution .. Loan modification infeasible ............ Junior lien issues ........................... Loan modification infeasible ............ Ineligible–prior approval denied .... Loan modification infeasible ............ Loan modification infeasible ............ Ineligible–not submitted for prior approval. Current owner not liable ................ Loan modification infeasible ............ Ginnie Mae pooling issues ............ Loan modification infeasible ............ Property abandoned ...................... Loan modification infeasible ............ Not owner occupied ....................... Compromise sale approved ............ Date purchase offer submitted by borrower for consideration. Compromise sale approved ............ Date compromise sale approved .. Compromise sale approved ............ Estimated settlement date ............. Compromise sale complete ............ Actual settlement date ................... Compromise sale complete ............ Payoff of first mortgage loan (line 504 from HUD–1). Compromise sale infeasible ............ Date of determination .................... Compromise sale infeasible ............ Reason for infeasibility .................. Compromise sale infeasible ............ hsrobinson on PROD1PC61 with PROPOSALS Event name No buyers ...................................... Compromise sale infeasible ............ Closing not consummated ............. Compromise sale infeasible ............ Unwilling borrower(s) ..................... Compromise sale infeasible ............ Property abandoned ...................... VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00013 Fmt 4702 Month, day, and year that servicer determines that loan modification is not a home retention option. Basis for determination that loan modification with the obligor is not a home retention option. Reason for infeasibility of the loan modification is that obligor does not agree to a loan modification. Reason for infeasibility of the loan modification is that servicer is not able to contact obligor to negotiate. Reason for infeasibility of the loan modification is that obligor does not have enough income to meet the obligations under a loan modification. Reason for infeasibility of the loan modification is that obligor has insufficient cash to satisfy all delinquent amounts not included in the new loan amount. Reason for infeasibility of the loan modification is that junior lien holder refuses to subordinate. Reason for infeasibility of the loan modification is that VA denied a prior approval of a non-conforming loan modification. Reason for infeasibility of the loan modification is that the servicer did not submit a non-conforming loan modification for prior approval. Reason for infeasibility of the loan modification is that the current owner is not legally liable on the loan. Reason for infeasibility of the loan modification is that the servicer is unwilling to bear the cost of repurchasing the loan from the pool and/or repooling. Reason for infeasibility of the loan modification is the property is vacant, is not being maintained, and is not offered for sale or rent. Reason for infeasibility of the loan modification is that the owner does not currently reside in the property. Month, day, and year that obligor submits a purchase offer to the servicer for consideration where the proceeds of the private sale will be less than the amount required to pay the mortgage in full. Month, day, and year that servicer approves obligor’s request to complete a private sale where the proceeds will be less than the amount required to pay the mortgage in full. Estimated month, day, and year that obligor’s property is scheduled to close by private sale and the proceeds will be less than the amount required to pay the mortgage in full. Actual month, day, and year that obligor’s property was sold to a third party in a private sale and the proceeds were less than the amount required to pay the mortgage in full. Net proceeds from the sale, listed in line 504 from HUD–1 form (also known as the ‘‘closing statement’’ or ‘‘settlement sheet’’), which will be applied toward the payoff of the first mortgage loan. Month, day, and year that servicer determines that the compromise sale is not an alternative to foreclosure. Basis for determination that compromise sale is not an alternative to foreclosure. Reason for infeasibility of the compromise sale is that there are no buyers interested in the obligor’s property. Reason for infeasibility of the compromise sale is that a potential sale did not legally close. Reason for infeasibility of the compromise sale is that obligor does not agree to a compromise sale. Reason for infeasibility of the compromise sale is the property is vacant, is not being maintained, is not offered for sale or rent, and no contact with the homeowner has been established. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68508 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Data elements Business definition of data element Compromise sale infeasible ............ Unable to contact .......................... Compromise sale infeasible ............ Junior lien issues ........................... Compromise sale infeasible ............ Title problems ................................ Deed-in-lieu approved ..................... Date DIL was requested ................ Deed-in-lieu approved ..................... Date of approval ............................ Deed-in-lieu complete ..................... Date that deed was recorded ........ Deed-in-lieu complete ..................... Net value ....................................... Deed-in-lieu complete ..................... Total eligible indebtedness ............ Deed-in-lieu infeasible ..................... Date of determination .................... Deed-in-lieu infeasible ..................... Reason for infeasibility .................. Deed-in-lieu infeasible ..................... Junior lien(s) .................................. Deed-in-lieu infeasible ..................... Title problems ................................ Deed-in-lieu infeasible ..................... Unwilling borrower(s) ..................... Deed-in-lieu infeasible ..................... Property abandoned ...................... Deed-in-lieu infeasible ..................... Unable to contact .......................... Foreclosure referral ......................... Date of referral to attorney ............ Foreclosure referral ......................... Foreclosure referral ......................... Date of most recent property inspection. Date 30 day delinquency letter sent (if no successful phone contact). Foreclosure referral ......................... Date phone contact successful ..... Foreclosure referral ......................... Updated reason for default at time of foreclosure. Business failure ............................. Reason for infeasibility of the compromise sale is that servicer is not able to contact obligor to negotiate. Reason for infeasibility of the compromise sale is that junior lien holder is unwilling to participate in the compromise sale. Reason for infeasibility of the compromise sale is that the owner is unable to provide clear title to the prospective purchaser. Month, day, and year that the obligor requests a voluntary transfer of the property to the holder in exchange for a release of all obligations under the mortgage. Month, day, and year that a deed in lieu of foreclosure is approved by the servicer. Month, day, and year that the deed in lieu of foreclosure was recorded with the local government office. The fair market value of the property minus the VA cost factor (net value = fair market value of the property * (1-the net value factor)). The unpaid principal balance, accrued unpaid interest, allowable advances, liquidation expenses, and property preservation expenses (if incurred prior to the actual foreclosure sale date or the end of the foreclosure timeframe, whichever is earlier), less any credits. Month, day, and year that servicer determines that the deed in lieu of foreclosure is not an alternative to foreclosure. Basis for determination that deed in lieu of foreclosure is not an alternative to foreclosure. Reason for infeasibility of the deed in lieu of foreclosure is that there is a junior lien on the property. Reason for infeasibility of the deed in lieu of foreclosure is that the owner is unable to transfer clear title. Reason for infeasibility of the deed in lieu of foreclosure is that one or more of the owners do not agree to a deed in lieu of foreclosure. Reason for infeasibility of the deed in lieu of foreclosure is the property is vacant, is not being maintained, is not offered for sale or rent, and contact with the homeowner has not been established. Reason for infeasibility of the deed in lieu of foreclosure is that servicer is not able to contact obligor to negotiate. Month, day, and year servicer refers obligor’s loan to legal counsel to initiate the foreclosure process. Month, day, and year of the most recently performed property inspection for the current default. Month, day, and year that servicer sent 30 day delinquency letter (letter to the borrower if payment has not been received within 30 days after it was due and telephone contact could not be made— 38CFR 36.4346(g)). Month, day, and year that servicer successfully contacted obligor via telephone for the current default (‘‘right party’’ contact). Basis for determination that foreclosure process should be initiated. Foreclosure referral ......................... Foreclosure referral ......................... Casualty loss ................................. Foreclosure referral ......................... Curtailment of income ................... Foreclosure referral ......................... Foreclosure referral ......................... Death of borrower .......................... Death of borrower’s family member. Foreclosure referral ......................... Distant employment transfer ......... Foreclosure referral ......................... Energy/environmental cost ............ Foreclosure referral ......................... hsrobinson on PROD1PC61 with PROPOSALS Event name Excessive obligations .................... Foreclosure referral ......................... Fraud ............................................. Foreclosure referral ......................... Illness of borrower ......................... VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00014 Fmt 4702 Reason for default is the occupation, work, or trade in which obligor is engaged did not generate enough funds to meet his financial obligations. Reason for default is the damage to the property as a result of a fire, storm, accident, flood, earthquake, or other catastrophic event. Reason for default is a reduction or the curtailment of obligor’s income from employment, investment, or other sources. Reason for default is that the obligor died. Reason for default is the death of obligor’s relative who is contributing towards the loan (directly or indirectly) and/or that obligor has incurred extraordinary expenses as a result of such death. Reason for default is the result of the borrower being transferred or relocated to a distant job location. Reason for default is the result of the borrower incurring excessive energy related costs or costs associated with removal of an environmental hazard in or near the property. Reason for default is obligor incurred excessive debt in addition to the mortgage obligation or the mortgage payment has increased significantly. Reason for default is a legal dispute arising out of a fraudulent or illegal action that occurred in connection with the origination of the mortgage or at a later date. Reason for default is a serious illness that keeps the borrower from working and generating income, and/or the borrower has incurred extraordinary expenses as a result of the illness. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68509 DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Foreclosure referral ......................... Illness of borrower’s family ............ Foreclosure referral ......................... Inability to rent property ................. Foreclosure referral ......................... Inability to sell property ................. Foreclosure referral ......................... Incarceration .................................. Foreclosure referral ......................... Marital difficulties ........................... Foreclosure referral ......................... Military service ............................... Foreclosure referral ......................... Payment adjustment ...................... Foreclosure referral ......................... Payment dispute ............................ Foreclosure referral ......................... Property problems ......................... Foreclosure referral ......................... Servicing problems ........................ Foreclosure referral ......................... Foreclosure referral ......................... Tenant not paying .......................... Transfer of ownership .................... Foreclosure referral ......................... Unemployment notification ............ Foreclosure referral ......................... Foreclosure sale scheduled ............ Borrower never responded to outreach. Date of scheduled foreclosure sale Foreclosure sale scheduled ............ Foreclosure type ............................ Foreclosure sale scheduled ............ Foreclosure sale scheduled ............ Substantial equity case ................... Judicial ........................................... Non-judicial .................................... Total eligible indebtedness ............ Substantial equity case ................... sale postponed or can- Estimated unpaid principal balance of all other liens. Calculated equity amount (fair market value less all liens). Date postponed or cancelled ........ Reason for default is the result of obligor incurring extraordinary expenses as the result of the illness of a family member. Reason for default is obligor has insufficient income and/or assets to make the monthly mortgage payment and the rental property is vacant. Reason for default is obligor has insufficient income and/or assets to make the monthly mortgage payment and is unable to sell the property. Reason for default is the result of obligor being jailed or imprisoned, regardless of whether obligor is still incarcerated. Reason for default is problems associated with separation or divorce including dispute over payments during divorce settlement, reduction in income available to pay the mortgage debt, etc. Reason for default is the result of obligor being called into active duty status and the military pay is insufficient to make the monthly mortgage payment. Reason for default is the result of the borrower being unable to make new payments that resulted from an increase in the monthly payment. Reason for default is that a disagreement between obligor and the mortgage servicer about the amount of the mortgage payment, the acceptance of a partial payment, the application of previous payments, etc. resulted in obligor refusing to make payments until the dispute is resolved. Reason for default is the result of the condition of the property such as substandard construction, expensive and extensive repairs required, etc. Reason for default is the result of obligor being dissatisfied with the servicer of the loan or with the fact that servicing has been transferred to a new servicer. Reason for default is the result of the obligor’s tenant not paying rent. Reason for default is the result of the obligor not making payments while sale of the property is pending. Reason for default is the result of a reduction in obligor’s income due to loss of job. Reason for default is unknown (unable to get contact or unable to determine the reason). Month, day, and year the property will be sold to satisfy the loan obligation (or month, day, and year it is anticipated the property will be sold to satisfy the loan obligation for states such as South Dakota). Type of legal process by which the property is sold to satisfy the loan obligation. Type of foreclosure process done through court action. Type of foreclosure process done through the power of sale. The unpaid principal balance, accrued unpaid interest, allowable advances, liquidation expenses, and property preservation expenses (if incurred prior to the actual foreclosure sale date or the end of the foreclosure timeframe, whichever is earlier), less any credits. The unpaid balance of any outstanding liens against the property. sale postponed or can- Postponed or cancelled indicator .. sale postponed or can- Reason .......................................... sale postponed or can- Reinstatement ................................ sale postponed or can- Bankruptcy ..................................... Foreclosure sale postponed or cancelled. Repayment plan ............................ Foreclosure sale postponed or cancelled. Special forbearance ....................... Foreclosure sale postponed or cancelled. Loan modification .......................... Substantial equity case ................... hsrobinson on PROD1PC61 with PROPOSALS Foreclosure celled. Foreclosure celled. Foreclosure celled. Foreclosure celled. Foreclosure celled. VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00015 Fmt 4702 The fair market value of the property minus all monies owed on other liens. Month, day, and year that foreclosure sale is postponed or cancelled. Indicator denoting whether the foreclosure sale was postponed or whether it was cancelled. Basis for postponement or cancellation of foreclosure sale. Reason for postponement or cancellation of foreclosure sale is to allow additional time for obligor to reinstate the loan. Reason for postponement or cancellation of foreclosure sale is petition for relief was filed under U.S. bankruptcy codes by or on behalf of the obligor. Reason for postponement or cancellation of foreclosure sale is servicer has an agreement with the obligor for reinstatement of the loan through a schedule of increased payments. Reason for postponement or cancellation of foreclosure sale is servicer has an agreement with the obligor to suspend foreclosure for a specified period of time to allow for loan reinstatement. Reason for postponement or cancellation of foreclosure sale is servicer has modified or is considering modification of the loan that will result in loan reinstatement. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68510 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Foreclosure sale postponed or cancelled. Private sale .................................... Foreclosure sale postponed or cancelled. Compromise sale ........................... Foreclosure sale postponed or cancelled. Title problems ................................ Foreclosure sale postponed or cancelled. Foreclosure sale postponed or cancelled. VA requested (includes refund consideration). Procedural errors (failure to give notice, legal issues, failure to comply with foreclosure laws, incorrect publication, trustee appointments, recording issues). Late appraisal ................................ Reason for postponement or cancellation of foreclosure sale is to allow additional time for obligor to complete a sale of the property, in which there is equity. Reason for postponement or cancellation of foreclosure sale is to allow additional time to complete a sale of the property, even though the sale proceeds will be less than the total indebtedness. Reason for postponement or cancellation of foreclosure sale is that title search disclosed problems which must be resolved prior to foreclosure. Reason for postponement or cancellation of foreclosure sale is VA requested. Reason for postponement or cancellation of foreclosure sale is procedural error, such as failure to give notice, legal issues, failure to comply with foreclosure laws, incorrect publication, trustee appointments, recording issues, etc. Foreclosure sale postponed or cancelled. Foreclosure sale postponed or cancelled. Contested foreclosure ................... Foreclosure sale postponed or cancelled. Property damage ........................... Foreclosure sale postponed or cancelled. Hazardous conditions or materials (when a municipality requires property clean-up prior to foreclosure). Foreclosure sale postponed or cancelled. Condemned (with need to demolish or eminent domain) or demolished. Foreclosure sale postponed or cancelled. Natural disaster ............................. Foreclosure sale postponed or cancelled. Property seizure ............................ Foreclosure sale postponed or cancelled. SCRA ............................................. Foreclosure sale postponed or cancelled. Results of sale ................................ Results of sale ................................ Other .............................................. Results Results Results Results ................................ ................................ ................................ ................................ Holder ............................................ Third party ..................................... Amount of successful bid .............. Net value ....................................... Results of sale ................................ Total eligible indebtedness ............ Transfer of custody ......................... hsrobinson on PROD1PC61 with PROPOSALS Results of sale ................................ Date of sale ................................... Sherriff’s appraised value (if applicable, Kentucky, Ohio. Louisiana, and Oklahoma only). Successful bidder .......................... Insurance type (flood, earthquake, forced place, homeowner’s, wind, fire)–report all applicable. Flood .............................................. Earthquake .................................... Forced place .................................. Homeowner’s ................................. Wind ............................................... Fire ................................................. of of of of Transfer Transfer Transfer Transfer Transfer Transfer sale sale sale sale of of of of of of custody custody custody custody custody custody VerDate Aug<31>2005 ......................... ......................... ......................... ......................... ......................... ......................... 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00016 Fmt 4702 Reason for postponement or cancellation of foreclosure sale is that appraisal was not performed in time to proceed to foreclosure sale. Reason for postponement or cancellation of foreclosure sale is the obligor or other party contests the validity or priority of the mortgage or lien being foreclosed or creates an issue with respect to mortgage holder’s right to foreclose it. Reason for postponement or cancellation of foreclosure sale is damage to the property occurred subsequent to completion of liquidation appraisal which could change or invalidate the bid amount. Reason for postponement or cancellation of foreclosure sale is municipality requires property clean-up of hazardous conditions and/or materials prior to foreclosure sale, or servicer discovers hazardous conditions and/or materials that will have an impact on final value determination. Reason for postponement or cancellation of foreclosure sale is property is (a) deemed legally unfit for occupancy or continued existence due to its physical defects or for other causes, (b) property is being acquired by a governmental body for public uses, or (c) property has already been torn down as a result of being condemned. Reason for postponement or cancellation of foreclosure sale is result of a natural disaster, such as fire, storm, accident, flood, earthquake, or other catastrophic event. Reason for postponement or cancellation of foreclosure sale is the result of law enforcement officials taking the property that has been used in connection with or acquired by illegal activities or to satisfy an unpaid judgment. Reason for postponement or cancellation of foreclosure sale is obligor has filed for relief under or is deemed to be entitled to the (SCRA). Reason for postponement or cancellation of foreclosure sale is other than one of the reasons listed. Month, day, and year the foreclosure sale was held. Value of the property as determined by the court-ordered sheriff’s appraisal. Designates whether the successful bidder was the holder or a third party. The property was acquired by the holder of the loan. The property was acquired by a third party. The amount of money bid to acquire the property. The fair market value of the property minus the VA cost factor (net value = fair market value of the property * (1-the net value factor)). The unpaid principal balance, accrued unpaid interest, allowable advances, liquidation expenses, and property preservation expenses (if incurred prior to the actual foreclosure sale date or the end of the foreclosure timeframe, whichever is earlier), less any credits. Information about insurance policy(ies) in force at the time of transfer of custody to VA. Reported Reported Reported Reported Reported Reported Sfmt 4702 insurance insurance insurance insurance insurance insurance type type type type type type is is is is is is flood insurance. earthquake insurance. forced place insurance. homeowner’s insurance. wind insurance. fire insurance. E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68511 DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Transfer of custody ......................... Policy number ................................ Transfer of custody ......................... Transfer of custody ......................... Transfer of custody ......................... Invalid sale results .......................... Invalid sale results .......................... Name of carrier .............................. Expiration date ............................... Tax parcel/identification number(s)–report as many as are applicable. Redemption expiration date (if applicable). Date of confirmation/ratification of sale. Mortgage holder’s payee vendor ID (per internal VA financial system). Payee loan number (if payee differs from servicer). Reason for the improper transfer of custody. Holder wanted to keep the property. Third party was the successful bidder. Reason sale invalidated ................ Bankruptcy ..................................... Unique insurance company issued number identifying the specific insurance coverage plan. Name of the company that provides the insurance coverage. Month, day, and year that the insurance coverage terminates. Unique number assigned by the local taxing authority to identify the property. Invalid sale results .......................... Contested foreclosure ................... Invalid sale results .......................... Invalid sale results .......................... Third party fails to consummate sale. Procedural errors ........................... Invalid sale results .......................... SCRA ............................................. Changed sale results ...................... Date third party failed to consummate the sale. Confirmed sale date with no transfer of custody. Confirmation or ratification date (when no transfer of custody). Basic Claim Information .................. Claim type (for the claim submission—initial, supplemental, appeal). Payee vendor ID (per FMS) .......... Transfer of custody ......................... Transfer of custody ......................... Transfer of custody ......................... Transfer of custody ......................... Improper transfer of custody ........... Improper transfer of custody ........... Improper transfer of custody ........... Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. Payee loan number (if payee differs from servicer). Borrower prepayment amount ....... Date of prepayment ....................... Interest Rate Changes .................. Effective date of change for SCRA (change date), if applicable. Interest rate for SCRA change, if applicable. ARM Loans (report all changes) ... Effective date of change for ARM loans (change date). Margin (for ARM interest rate changes). Date loan termination reported to credit bureaus. Credits ........................................... Refunds of insurance premiums ... Tenant rents .................................. Insurance loss information ............ Date insurance claim payment received by servicer. Date denied (if applicable) ............ Basic Claim Information .................. Proceeds from insurance claim ..... Basic Basic Basic Basic Claim Claim Claim Claim Information Information Information Information .................. .................. .................. .................. Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. hsrobinson on PROD1PC61 with PROPOSALS Basic Claim Information .................. Basic Basic Basic Basic Basic Claim Claim Claim Claim Claim Information Information Information Information Information VerDate Aug<31>2005 .................. .................. .................. .................. .................. 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00017 Fmt 4702 Month, day, and year on which the redemption period terminates. Month, day, and year the foreclosure sale was confirmed or ratified (as required by State law). Unique VA-assigned number used to identify the payee for VA purposes; servicer reports own vendor ID if servicer is payee. Unique payee-assigned custody number used to identify the account. Reason servicer erroneously transferred custody of a property to VA. Holder intended to retain property but conveyed to VA in error. Third party was successful bidder so holder did not have the option to convey to VA. Basis for determining that results changed or sale was invalid. Reason sale was determined to be invalid is that petition for relief was filed under U.S. bankruptcy codes by or on behalf of the obligor. Reason sale was determined to be invalid is that the foreclosure was contested. Reason sale was determined to be invalid is that third party purchaser did not complete the purchase requirements. Reason sale was determined to be invalid is procedural error, such as failure to give notice, legal issues, failure to comply with foreclosure laws, incorrect publication, trustee appointments, recording issues, etc. Reason sale was determined to be invalid is that obligor has filed for relief under or is deemed to be entitled to the SCRA. Month, day, and year the third party failed to consummate the sale as per consummation requirements in the applicable state (i.e. the timeframe for consummation expired). Month, day, and year of sale confirmation or ratification when the servicer chooses to retain the property and the property is located in a confirmation or ratification of sale state. Type of claim servicer is submitting, either initial, supplemental, or appeal. Unique FMS-assigned number used to identify the payee for VA purposes. Unique payee-assigned number, used to identify the account. Any unscheduled payment to principal by the borrower. Month, day, and year each prepayment was applied. Interest Rate Changes. Effective date of change for SCRA (change date). Interest rate for SCRA change. ARM Loans (report all changes). Effective date of change for ARM loans (change date). Margin (for ARM interest rate changes). Month, day, and year that servicer reports to the credit bureau that the loan has been terminated. Any monies being held to be applied to the account indebtedness. Any monies received from refunds of insurance premiums. Any monies received from collection of rents from tenants. The following elements detail the allocation of insurance proceeds. Month, day, and year monies were paid to servicer as a result of insurable loss. Month, day, and year that the insurance claim for damages was denied. Amount of insurance loss proceeds received. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68512 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Basic Claim Information .................. Disposition of insurance proceeds Basic Basic Basic Basic Basic Claim Information .................. Applied to UPB .............................. Used to restore security ................ Held in suspense ........................... Amount applied to principal (if applicable). Date applied to UPB (if applicable) Basic Claim Information .................. Escrow credit balance ................... Basic Claim Information .................. Suspended credits (partial payments in suspense). Buydown credits from origination (seller buydowns). Buydown credits from foreclosure (only for pre-VALERI claims). Whether the insurance monies received were (a) applied to the unpaid principal balance, (b) used to restore the security, or (c) held in suspense. Whether the monies were (a) above. Whether the monies were (b) above. Whether the monies were (c) above. Amount of monies from the insurance loss proceeds that were applied to the unpaid principal balance. Month, day, and year that the insurance loss proceeds were applied to the unpaid principal balance. Amount of monies, if any, remaining in tax and insurance escrow account. Any other monies being held in suspense. Claim Claim Claim Claim Information Information Information Information .................. .................. .................. .................. Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. Date of buydown or buydowns ...... Interest on escrow ......................... Basic Claim Information .................. Itemized Advances (payment date and amount must be provided for each). Insurance ....................................... Basic Claim Information .................. Forced place (annual), must also provide effective date. Basic Claim Information .................. Forced place (monthly binder) ...... Basic Claim Information .................. Flood .............................................. Basic Claim Information .................. Homeowner’s/Fire/Hazard ............. Basic Claim Information .................. Wind ............................................... Basic Claim Information .................. Earthquake .................................... Basic Claim Information .................. Taxes ............................................. Basic Basic Basic Basic Basic Basic Basic Basic .................. .................. .................. .................. .................. .................. .................. .................. City ................................................. County/Parish ................................ School ............................................ Levee ............................................. Township ....................................... Municipal Utility District (MUD) ...... Public Utility District (PUD) ............ Special assessments ..................... Basic Claim Information .................. Ground rent ................................... Basic Claim Information .................. Association fees ............................ Basic Claim Information .................. Property preservation .................... Basic Claim Information .................. Yard maintenance ......................... Basic Claim Information .................. Initial cut up to 5,000 s.f. ............... Basic Claim Information .................. hsrobinson on PROD1PC61 with PROPOSALS Basic Claim Information .................. Initial cut 5,001–10,000 s.f. ........... Basic Claim Information .................. Initial cut 10,000 s.f. or larger ....... Basic Claim Information .................. Recut cut up to 5,000 s.f. .............. Basic Claim Information .................. Recut cut 5,001–10,000 s.f. .......... Basic Claim Information .................. Recut cut 10,000 s.f. or larger ...... Claim Claim Claim Claim Claim Claim Claim Claim Information Information Information Information Information Information Information Information VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00018 Fmt 4702 Any unapplied seller buydown credits from loan origination. Amounts applied to (1) principal balance, (2) interest, or (3) escrow to obtain specified bid (pre-VALERI terminations). Buydown funds should have been applied, not held in suspense. Date or dates of foreclosure buydowns (pre-VALERI terminations). Amount of monies earned from obligor’s escrow account as a result of interest payments. Amounts required to be advanced by the servicer to preserve and protect the property and/or the lien position. Need date and amount for every advance). Amounts advanced by the servicer to obtain and/or continue insurance coverage. Amounts advanced by the servicer to obtain and/or continue yearly forced place insurance coverage; including month, day, and year that coverage became effective. Amounts advanced by the servicer to obtain and/or continue monthly forced place insurance coverage. Amounts advanced by the servicer to obtain and/or continue flood insurance coverage. Amounts advanced by the servicer to obtain and/or continue homeowner’s, fire, and/or hazard insurance coverage. Amounts advanced by the servicer to obtain and/or continue wind insurance coverage. Amounts advanced by the servicer to obtain and/or continue earthquake insurance coverage. Amounts advanced by the servicer to pay amounts which were levied by a government authority upon the property. Amounts advanced by the servicer to pay city taxes. Amounts advanced by the servicer to pay county/parish taxes. Amounts advanced by the servicer to pay school taxes. Amounts advanced by the servicer to pay levee taxes. Amounts advanced by the servicer to pay township taxes. Amounts advanced by the servicer to pay MUD taxes. Amounts advanced by the servicer to pay PUD taxes. Amounts advanced by the servicer to pay special assessments against the property. Amounts advanced by the servicer to pay ground rent due on the property. Amounts advanced by the servicer to pay HOA, CIA, PUD, and/or condo association fees. Amounts advanced by the servicer to protect and preserve the property. Amounts advanced by the servicer for required yard maintenance services performed on the property. Amounts advanced by the servicer for initial mowing services of up to 5,000 square feet. Amounts advanced by the servicer for initial mowing services of between 5,001 and 10,000 square feet. Amounts advanced by the servicer for initial mowing services of greater than 10,000 square feet. Amounts advanced by the servicer for additional mowing services of up to 5,000 square feet. Amounts advanced by the servicer for additional mowing services of between 5,001 and 10,000 square feet. Amounts advanced by the servicer for additional mowing services of greater than 10,000 square feet. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68513 DATA ELEMENT DEFINITIONS—Continued Data elements Business definition of data element Basic Claim Information .................. Trim shrubs .................................... Basic Claim Information .................. Snow removal ................................ Basic Claim Information .................. Winterization .................................. Basic Claim Information .................. Dry heat–1 unit .............................. Basic Claim Information .................. Dry heat–addl. units ...................... Basic Claim Information .................. Wet heat–1unit .............................. Basic Claim Information .................. Wet heat–addl. unit ....................... Basic Claim Information .................. Radiant heat–1 unit ....................... Basic Claim Information .................. Radiant heat–addl. unit ................. Basic Claim Information .................. Reduced pressure zone (RPZ) valve. Basic Claim Information .................. Basic Claim Information .................. Pools, spas, and hot tubs winterization. Utilities ........................................... Basic Basic Basic Basic Basic .................. .................. .................. .................. .................. Electricity ....................................... Gas ................................................ Oil .................................................. Propane ......................................... Water and sewer ........................... Basic Claim Information .................. Equipment repair or replacement .. Basic Claim Information .................. Sump pump repair ......................... Basic Claim Information .................. Sump pump installation ................. Basic Claim Information .................. Pumping water from basement ..... Basic Claim Information .................. Water well (pump, tank, and lines) Basic Claim Information .................. Securing ......................................... Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. Securing of the property ................ Resecure property ......................... Temporary roof repairs .................. Basic Claim Information .................. Pools, spas, and hot tubs securing Basic Claim Information .................. In-ground pools .............................. Basic Claim Information .................. Above ground ................................ Basic Claim Information .................. Hot tubs or spas ............................ Basic Claim Information .................. Basic Claim Information .................. Pools, spas, and hot tubs maintenance. Boarding ........................................ Basic Claim Information .................. Boarding–1⁄2″ plywood ................... Basic Claim Information .................. hsrobinson on PROD1PC61 with PROPOSALS Event name Boarding–5⁄8″ plywood ................... Basic Claim Information .................. Boarding–3⁄4″plywood .................... Basic Claim Information .................. Hazard Abatement ......................... Basic Claim Information .................. Debris removal .............................. Basic Claim Information .................. Cubic yards removed .................... Amounts advanced by the servicer for shrub trimming services performed on the property. Amounts advanced by the servicer for snow removal services performed on the property. Amounts advanced by the servicer to prepare the property to withstand cold winter conditions. Amounts advanced by the servicer to winterize one property unit with dry heat. Amounts advanced by the servicer to winterize any additional property units with dry heat. Amounts advanced by the servicer to winterize one property unit with wet heat. Amounts advanced by the servicer to winterize any additional property units with wet heat. Amounts advanced by the servicer to winterize one property unit with radiant heat. Amounts advanced by the servicer to winterize any additional property units with radiant heat. Amounts advanced by the servicer to repair, replace, or install (as necessary to comply with state health department requirements) a reduced pressure zone (RPZ) valve. Amounts advanced by the servicer to winterize pools, spas, and hot tubs. Amounts advanced by the servicer to pay for necessary utility services. Amounts advanced by the servicer to pay for electricity. Amounts advanced by the servicer to pay for gas. Amounts advanced by the servicer to pay for oil. Amounts advanced by the servicer to pay for propane. Amounts advanced by the servicer to pay for water and sewer services. Amounts advanced by the servicer for necessary equipment repair or replacement. Amounts advanced by the servicer to pay for repair of a required sump pump. Amounts advanced by the servicer to pay for installation of a required sump pump. Amounts advanced by the servicer to pay for services related to removing water from the basement of the property. Amounts advanced by the servicer to pay for necessary water well equipment repair or replacement. Amounts advanced by the servicer to properly secure, protect, and preserve vacant and abandoned properties. Amounts advanced by the servicer to initially secure the property. Amounts advanced by the servicer to resecure the property. Amounts advanced by the servicer to make required temporary roof repairs. Amounts advanced by the servicer to properly secure pools, spas, and hot tubs. Amounts advanced by the servicer to properly secure in-ground pools. Amounts advanced by the servicer to properly secure above ground pools. Amounts advanced by the servicer to properly secure hot tubs or spas. Amounts advanced by the servicer to pay for necessary maintenance to pools, spas, and hot tubs. Amounts advanced by the servicer to properly board any openings in the property (windows and doors) with plywood. Amounts advanced by the servicer to pay for boarding with 1⁄2″ plywood. Amounts advanced by the servicer to pay for boarding with 5⁄8″ plywood. Amounts advanced by the servicer to pay for boarding with 3⁄4″ plywood. Amounts advanced by the servicer to take necessary actions in compliance with federal, state and local regulations with regards to environmental hazards (such as asbestos and radon). Amounts advanced by the servicer to remove debris from the property, in compliance with federal, state and local regulations. Total number of cubic yards of debris removed. Claim Claim Claim Claim Claim Information Information Information Information Information VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00019 Fmt 4702 Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68514 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Data elements Business definition of data element Basic Claim Information .................. Amount paid per cubic yard .......... Basic Claim Information .................. Basic Claim Information .................. Number of units (1, 2, 3, or 4) ...... Vehicle removal ............................. Basic Claim Information .................. Basic Claim Information .................. Liquidation expenses ..................... Attorney fees ................................. Basic Claim Information .................. Foreclosure attorney fees .............. Basic Claim Information .................. DIL attorney fees ........................... Basic Claim Information .................. Bankruptcy attorney fees—chapter 7. Basic Claim Information .................. Bankruptcy attorney fees—chapter 13/11. Basic Claim Information .................. Bankruptcy attorney fees—multiple Basic Claim Information .................. Ad litem/ curator fees/ warning order attorney fees. Basic Claim Information .................. Attorney service tax ....................... Basic Claim Information .................. Attorney fee for foreclosure restarts. Basic Claim Information .................. Appraisals ...................................... Basic Claim Information .................. Single unit ...................................... Basic Claim Information .................. Duplex ............................................ Basic Claim Information .................. Three units ..................................... Basic Claim Information .................. Four units ....................................... Basic Claim Information .................. Condominium ................................. Basic Claim Information .................. Appraisal service tax ..................... Basic Claim Information .................. Court appraisal .............................. Basic Claim Information .................. Mileage .......................................... Basic Claim Information .................. Appraisal update ............................ Basic Claim Information .................. Title ................................................ Basic Claim Information .................. Title search .................................... Basic Claim Information .................. Title examination ........................... Basic Claim Information .................. Title commitment ........................... Basic Claim Information .................. hsrobinson on PROD1PC61 with PROPOSALS Event name Trustee sale guaranty (TSG) ......... Basic Claim Information .................. Basic Claim Information .................. Title endorsement .......................... Title update .................................... Basic Claim Information .................. Basic Claim Information .................. Title policy ...................................... Title opinion/abstracting legal opinion. Amounts advanced by the servicer to remove debris from the property, per cubic yard. Amounts advanced by the servicer for debris removal from one unit. Amounts advanced by the servicer to remove abandoned vehicle(s) from the property in compliance with state and local requirements. Expenses incurred by the servicer necessary to terminate the loan. Expenses incurred by the servicer for legal representation necessary to terminate the loan. Expenses incurred by the servicer for necessary legal representation related to terminating the loan by foreclosure. Expenses incurred by the servicer for necessary legal representation related to terminating the loan by deed in lieu of foreclosure. Expenses incurred by the servicer for necessary legal representation related to filing for a relief of stay in a Chapter 7 bankruptcy proceeding. Expenses incurred by the servicer for necessary legal representation related to filing for a relief of stay in a Chapter 13 or 11 bankruptcy proceeding. Expenses incurred by the attorney fees–servicer for necessary legal multiple representation related to filing for a relief of stay in multiple bankruptcy proceedings. Expenses incurred by the servicer for legal representation appointed by a court to act on behalf of another party, which is necessary to terminate the loan. Expenses incurred by the servicer for payment of taxes imposed on attorney service fees. Expenses incurred by the servicer for necessary legal representation related to terminating the loan in the event that the initial foreclosure was cancelled (not postponed) due to events outside the servicer’s control and must be restarted. Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the property. Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the single unit property. Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the two unit property. Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the three unit property. Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the four unit property. Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the condominium property. Expenses incurred by the servicer for payment of taxes imposed on services of appraiser. Expenses incurred by the servicer to have a court ordered appraisal completed to determine the market value of the property. Expenses incurred by the servicer to have a VA-assigned appraiser travel to the property to perform an appraisal. Expenses incurred by the servicer to have a VA-assigned appraiser update the original appraisal of the property. Expenses incurred by the servicer for title related costs necessary to terminate the loan. Expenses incurred by the servicer for search of records (performed by title company or attorney) prior to a foreclosure sale (to insure a valid foreclosure). Expenses incurred by the servicer for a close examination of all public records that affect the title to the property, including reviewing past deeds, wills, and trusts to make sure the title has passed correctly to each owner and to verify that all prior mortgages have been extinguished. Expenses incurred by the servicer for a written commitment from the title company stating the conditions under which the title company will insure title to the property. Expenses incurred by the servicer for a written commitment from the title company stating the conditions under which it will insure title to the property following a proper foreclosure. Expenses incurred by the servicer to pay required endorsement fees. Expenses incurred by the servicer to pay for required updates to the title commitment. Expenses incurred by the servicer to pay for the title policy. Expenses incurred by the servicer for a statement issued by an attorney as to the quality of title after examining an abstract of title. VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00020 Fmt 4702 Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules 68515 DATA ELEMENT DEFINITIONS—Continued Data elements Business definition of data element Basic Claim Information .................. Abstracting update ......................... Basic Claim Information .................. Title service tax ............................. Basic Claim Information .................. Certificate of regularity .................. Basic Claim Information .................. Filing fees ...................................... Basic Claim Information .................. Judgment ....................................... Basic Claim Information .................. Bankruptcy ..................................... Basic Claim Information .................. Lis pendens ................................... Basic Claim Information .................. Summons ....................................... Basic Claim Information .................. Complaint ....................................... Basic Claim Information .................. Petition ........................................... Basic Claim Information .................. Order confirming sale .................... Basic Claim Information .................. Posting notice of sale .................... Basic Claim Information .................. Notice affidavit ............................... Basic Claim Information .................. Military affidavit .............................. Basic Claim Information .................. Notice of publication affidavit ........ Basic Claim Information .................. Index number ................................. Basic Claim Information .................. Request for judicial intervention .... Basic Claim Information .................. Recording fees—foreclosure ......... Basic Claim Information .................. Foreclosure deed (sheriff’s, trustee’s, referee’s, or commissioner’s deed). Assignment of sheriff’s deed ......... Expenses incurred by the servicer to pay for required updates to the abstract. Expenses incurred by the servicer to pay taxes imposed on title services. Expenses incurred by the servicer to establish sufficiency of probate (wills) proceedings, or other proceedings held outside the county in which the property is situated. Expenses incurred by the servicer as charged by public officials in the property’s area for recording or filing documents related to the loan obligation. Expenses incurred by the servicer as charged by public officials for the recording or filing of a judgment. Expenses incurred by the servicer as charged by public officials for the recording or filing of bankruptcy-related motions. Expenses incurred by the servicer as charged by public officials for the recording or filing of notice of the filing of a suit. Expenses incurred by the servicer as charged by public officials for the recording or filing of a summons. Expenses incurred by the servicer as charged by public officials for the recording or filing of a complaint. Expenses incurred by the servicer as charged by public officials for the recording or filing of a petition. Expenses incurred by the servicer as charged by public officials for the recording or filing of an order confirming sale. Expenses incurred by the servicer as charged by public officials for the posting of the notice of sale. Expenses incurred by the servicer as charged by public officials for the recording or filing of the affidavit stating that proper notice of sale was posted. Expenses incurred by the servicer for a sworn, written statement, affirming that the property owner is not entitled to any rights under the SCRA. Expenses incurred by the servicer as charged by public officials for the recording or filing of the affidavit stating that proper notice of sale was published. Expenses incurred by the servicer as charged by public officials for the recording or filing of the index number. Expenses incurred by the servicer as charged by public officials for the recording or filing of a request for judicial intervention. Expenses incurred by the servicer as charged by public officials for recording or filing foreclosure documents. Expenses incurred by the servicer as charged by public officials for recording or filing of the deed following foreclosure. Basic Claim Information .................. Basic Claim Information .................. Sheriff’s certificate of sale ............. Basic Claim Information .................. Basic Claim Information .................. Assignment of sheriff’s certificate of sale. Deed to VA .................................... Basic Claim Information .................. Notice of foreclosure ..................... Basic Claim Information .................. Basic Claim Information .................. Substitution of trustee (appointment, agreement, or document). Notice of default/foreclosure notice Basic Claim Information .................. Judgment ....................................... Basic Claim Information .................. Summons ....................................... Basic Claim Information .................. hsrobinson on PROD1PC61 with PROPOSALS Event name Certificate of non-redemption ........ Basic Claim Information .................. Recording Fees—DIL .................... Basic Claim Information .................. Basic Claim Information .................. Warranty deed from owner to holder. Estoppel affidavit ........................... Basic Claim Information .................. Deed to VA .................................... VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 PO 00000 Frm 00021 Fmt 4702 Expenses incurred by the servicer as charged by public officials for recording or filing the assignment of the deed following foreclosure. Expenses incurred by the servicer as charged by public officials for recording or filing the Sheriff’s certificate of sale. Expenses incurred by the servicer as charged by public officials for recording or filing the assignment of the Sheriff’s certificate of sale. Expenses incurred by the servicer as charged by public officials for recording or filing the deed to VA. Expenses incurred by the servicer as charged by public officials for recording or filing the notice of foreclosure. Expenses incurred by the servicer as charged by public officials for recording or filing the substitution of trustee. Expenses incurred by the servicer as charged by public officials for recording or filing the notice of default/foreclosure notice. Expenses incurred by the servicer as charged by public officials for the recording or filing of a judgment. Expenses incurred by the servicer as charged by public officials for the recording or filing of a summons. Expenses incurred by the servicer as charged by public officials for the recording or filing of a certificate of non-redemption. Expenses incurred by the servicer as charged by public officials for recording or filing deed in lieu of foreclosure documents. Expenses incurred by the servicer as charged by public officials for recording or filing the deed from owner to holder. Expenses incurred by the servicer as charged by public officials for recording or filing the estoppel affidavit. Expenses incurred by the servicer as charged by public officials for recording or filing the deed to VA. Sfmt 4702 E:\FR\FM\27NOP1.SGM 27NOP1 68516 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules DATA ELEMENT DEFINITIONS—Continued Event name Data elements Business definition of data element Basic Claim Information .................. Satisfaction of mortgage ................ Basic Claim Information .................. Deed of reconveyance/full release Basic Claim Information .................. Foreclosure facilitation fees ........... Basic Claim Information .................. Basic Claim Information .................. Sheriff’s/administrator/commissioner fees and costs (includes court costs). Trustee/referee/master in equity fees. Auctioneer’s fee ............................. Expenses incurred by the servicer as charged by public officials for recording or filing the satisfaction of mortgage/release of mortgage. Expenses incurred by the servicer as charged by public officials for recording or filing the deed of reconveyance/full release. Expenses incurred by the servicer as charged by public officials to facilitate the foreclosure process. Expenses payable with respect to sheriff/administrator/commissioner fees and costs. Basic Claim Information .................. Court recorder fee ......................... Basic Claim Information .................. Prothonatory/clerk’s fee ................. Basic Claim Information .................. Other fees and costs ..................... Basic Claim Information .................. Basic Claim Information .................. Publication of sale/advertisement in newspaper or on the internet. Service of process ......................... Basic Claim Information .................. Personal (sheriff or private entity) Basic Claim Information .................. By publication ................................ Basic Claim Information .................. By certified Mail ............................. Basic Claim Information .................. Investigation fee ............................ Basic Claim Information .................. Non-extinguishable liens ............... Basic Claim Information .................. Committee fees and costs ............. Basic Claim Information .................. Transfer tax/documentary stamps Basic Claim Information .................. Basic Claim Information .................. Basic Claim Information .................. Property inspections ...................... Dates inspections completed ........ Property inspection fee .................. Basic Claim Information .................. Municipal lien certificate ................ Basic Claim Information .................. Title V septic (Massachusetts) ...... Basic Claim Information .................. Poundage ...................................... Basic Claim Information .................. Mennonite notices ......................... Basic Claim Information .................. hsrobinson on PROD1PC61 with PROPOSALS Paperwork Reduction Act of 1995 While the proposed rule sets forth collections of information pertaining to proposed § 36.4315a, this supplemental notice contains no new or proposed revised collections of information outside of those referenced in the proposed rule. Executive Order 12866 Executive Order 12866 directs agencies to assess all costs and benefits of available regulatory alternatives and, when regulation is necessary, to select regulatory approaches that maximize net benefits (including potential economic, environmental, public health VerDate Aug<31>2005 16:05 Nov 24, 2006 Jkt 211001 Expenses incurred by the servicer to pay the trustee/referee/master in equity for fees charged. Expenses incurred by the servicer to pay the auctioneer to conduct the foreclosure sale. Expenses incurred by the servicer to pay the court recorder for recording services. Expenses incurred by the servicer to pay the prothonotary/clerk for fees charged. Expenses incurred by the servicer to pay for any liquidation Expenses not previously listed. Expenses incurred by the servicer to pay for publication/advertisement of the notice of sale in an appropriate newspaper. Expenses incurred by the servicer to serve papers on any necessary party of interest. Expenses incurred by the servicer to pay for fees charged to personally serve papers on any necessary party of interest. Expenses incurred by the servicer to pay for fees charged to serve legal notice on any necessary party of interest by publication. Expenses incurred by the servicer to send required notices by certified mail to all parties of interest. Expenses incurred by the servicer to pay the investigator for fees charged. Expenses incurred by the servicer to pay for any liens that are not extinguished by the foreclosure action. Fees and costs incurred by the servicer to convene the committee to confirm the sale when there is equity and/or IRS liens. Expenses incurred by the servicer for the state or local tax payable upon the transfer of a title. Expenses incurred by the servicer for required property inspections. Months, days, years, property inspections were completed. Expenses incurred by the servicer to pay fees charged for required property inspections. Expenses incurred by the servicer to obtain a municipal lien certificate. Expenses incurred by the servicer to inspect for and certify compliance with Title V septic requirements. Fee charged by the court for handling the funds received from the sale of the property for third party bids. Expenses incurred by the servicer to notify every party holding a legally protected property interest whose name and address can reasonably be determined by diligent efforts. and safety, and other advantages; distributive impacts; and equity). The Executive Order classifies a ‘‘significant regulatory action,’’ requiring review by the Office of Management and Budget (OMB) unless OMB waives such review, as any regulatory action that is likely to result in a rule that may: (1) Have an annual effect on the economy of $100 million or more or adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities; (2) Create a serious inconsistency or otherwise interfere with an action taken or PO 00000 Frm 00022 Fmt 4702 Sfmt 4702 planned by another agency; (3) Materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; or (4) Raise novel legal or policy issues arising out of legal mandates, the President’s priorities, or the principles set forth in the Executive Order. The economic, interagency, budgetary, legal, and policy implications of this supplemental notice of proposed rulemaking has been examined, and it has been determined not to be a significant regulatory action under Executive Order 12866. E:\FR\FM\27NOP1.SGM 27NOP1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Proposed Rules Unfunded Mandates The Unfunded Mandates Reform Act requires, at 2 U.S.C. 1532, that agencies prepare an assessment of anticipated costs and benefits before developing any rule that may result in an expenditure by State, local, or tribal governments, in the aggregate, or by the private sector, of $100 million or more in any given year. This supplemental notice of proposed rulemaking would have no such effect on State, local, or tribal governments, or the private sector. Regulatory Flexibility Act The Secretary hereby certifies that this supplemental notice of proposed rulemaking would not have a significant economic impact on a substantial number of small entities as they are defined in the Regulatory Flexibility Act, 5 U.S.C. 601–612. This notice provides additional information concerning the computer-based system that VA proposed to implement in its prior rulemaking notice. The additional information does not alone have any economic impact on small entities. Therefore, pursuant to 5 U.S.C. 605(b), the supplemental notice of proposed rulemaking is exempt from the initial and final regulatory flexibility analysis requirements of sections 603 and 604. Catalog of Federal Domestic Assistance The Catalog of Federal Domestic Assistance Program number is 64.114, Veterans Housing Guaranteed and Insured Loans. BILLING CODE 8320–01–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 52 [EPA–R06–OAR–2006–0016; FRL–8248–2] Approval and Promulgation of Air Quality Implementation Plans; Texas; Revisions to Reid Vapor Pressure Requirements for Gasoline Environmental Protection Agency (EPA). ACTION: Proposed rule. hsrobinson on PROD1PC61 with PROPOSALS AGENCY: SUMMARY: EPA is proposing to approve a State Implementation Plan (SIP) revision submitted by Texas on October 4, 2001. The revisions pertain to Reid Vapor Pressure (RVP) requirements for gasoline. The revisions add exemptions to RVP requirements for research 16:05 Nov 24, 2006 Jkt 211001 Written comments should be received on or before December 27, 2006. DATES: Comments may be mailed to Mr. Thomas Diggs, Chief, Air Planning Section (6PD–L), Environmental Protection Agency, 1445 Ross Avenue, Suite 1200, Dallas, Texas 75202–2733. Comments may also be submitted electronically or through hand delivery/ courier by following the detailed instructions in the ADDRESSES section of the direct final rule located in the rules section of this Federal Register. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Alima Patterson, State/Oversight Section (6PD–O), Environmental Protection Agency, Region 6, 1445 Ross Avenue, Suite 700, Dallas, Texas 75202– 2733, telephone (214) 665–7247; fax number 214–665–7263; e-mail address patterson.alima@epa.gov. In the final section of this Federal Register, EPA is approving the State’s SIP submittal as a direct rule without prior proposal because the Agency views this as noncontroversial submittal and anticipates no adverse comments. A detailed rationale for the approval is set forth in the direct final rule. If no adverse comments are received in response to this action no further activity is contemplated. If EPA receives adverse comments, the direct final rule will be withdrawn and all public comments received will be addressed in a subsequent final rule based on this proposed rule. EPA will not institute a second comment period. Any parties interested in commenting on this action should do so at this time. For additional information, see the direct final rule which is located in the rules section of this Federal Register. SUPPLEMENTARY INFORMATION: Approved: November 20, 2006. R. James Nicholson, Secretary of Veterans Affairs. [FR Doc. 06–9403 Filed 11–21–06; 12:29 pm] VerDate Aug<31>2005 laboratories and academic institutions, competition racing, and gasoline that is being stored or transferred that is not used in the affected counties. The revisions also reduce record keeping requirements for retail gasoline dispensing outlets in the affected counties, and correct a typographical error. We are proposing approval of the revisions pursuant to section 110 and part D of the Federal Clean Air Act. Dated: November 9, 2006. Lawrence E. Starfield, Acting Regional Administrator, Region 6. [FR Doc. E6–19992 Filed 11–24–06; 8:45 am] BILLING CODE 6560–50–P PO 00000 Frm 00023 Fmt 4702 Sfmt 4702 68517 ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 281 [EPA–R08–UST–2006–0295; FRL–8247–2] Colorado: Tentative Approval of State Underground Storage Tank Program Environmental Protection Agency (EPA). ACTION: Proposed rule; notice of tentative determination on application of state of Colorado for final approval, public hearing and public comment period. AGENCY: SUMMARY: The State of Colorado has applied for final approval of its Underground Storage Tank (UST) Program under Subtitle I of the Resource Conservation and Recovery Act (RCRA). EPA has reviewed Colorado’s application and made the tentative decision that the State’s UST program satisfies all requirements necessary to qualify for final approval. DATES: Any member of the public is invited to provide written comments and/or request a public hearing on this determination by December 27, 2006. A public hearing will be held if sufficient public interest is expressed and communicated to EPA in writing by December 27, 2006. EPA will determine by January 26, 2007, whether there is significant interest to hold a public hearing. The State of Colorado will participate in any public hearing held by EPA on this subject. Please see SUPPLEMENTARY INFORMATION, Item C, for details. ADDRESSES: Written comments and requests for a public hearing shall be addressed to: Robert E. Roberts, Regional Administrator, c/o Francisca Chambus (8P–W–GW), U.S. EPA, Region 8, 999 18th Street, Suite 200, Denver, CO 80202–2466. Comments, as well as requests to present oral testimony, must be received by the close of business on December 27, 2006. All documents relating to this determination are available for public inspection and copying at the following locations: (1) U.S. EPA, Library, Region 8, 999 18th Street, Suite 144, Denver, CO 80202–2466 from 9AM to 4PM, (2) Colorado Department of Labor & Employment, Division of Oil and Public Safety, Public Records Center, 633 17th Street, Suite 200, Denver, CO 80202 from 8AM to Noon, or (3) online at: https://www.regulations.gov, with reference to Docket ID No. EPA–R08– UST–2006–0295. However, based on sensitivity, certain materials are available in hardcopy only. Comments E:\FR\FM\27NOP1.SGM 27NOP1

Agencies

DEPARTMENT OF VETERANS AFFAIRS

[Federal Register Volume 71, Number 227 (Monday, November 27, 2006)]
[Proposed Rules]
[Pages 68498-68517]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-9403]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF VETERANS AFFAIRS

38 CFR Part 36

RIN 2900-AL65


Loan Guaranty: Loan Servicing and Claims Procedures Modifications

AGENCY: Department of Veterans Affairs.

ACTION: Supplemental notice of proposed rulemaking; reopening of 
comment period.

-----------------------------------------------------------------------

SUMMARY: This document provides supplemental notice regarding a 
proposal to amend the Department of Veterans Affairs (VA) Loan Guaranty 
regulations related to several aspects of the servicing and liquidating 
of guaranteed housing loans in default, and submission of guaranty 
claims by loan holders. It provides specific information regarding the 
computer-based system that VA proposes to implement as part of the loan 
servicing and claims procedure modifications in this rulemaking. VA is 
reopening the comment period for the limited purpose of accepting 
public comments concerning the supplemental information provided in 
this notice.

DATES: Comments must be received on or before December 11, 2006. All 
comments previously received following publication of the proposed rule 
referenced above are being considered and do not need to be 
resubmitted.

ADDRESSES: Written comments may be submitted through 
www.regulations.gov; by mail or hand-delivery to the Director, 
Regulations Management (00REG), Department of Veterans Affairs, 810 
Vermont Ave., NW, Room 1068, Washington, DC 20420; or by fax to (202) 
273-9026. Comments should indicate that they are submitted in response 
to ``RIN 2900-AL65.''; Copies of comments received will be available 
for public inspection in the Office of Regulation Policy and 
Management, Room 1063B, between the hours of 8 a.m. and 4:30 p.m., 
Monday through Friday (except holidays). Please call (202) 273-9515 for 
an appointment. In addition, during the comment period, comments may be 
viewed online through the Federal Document Management System (FDMS). 
Comments previously received regarding the notice of proposed 
rulemaking for RIN 2900-AL65, published February 18, 2005 (70 FR 8472), 
will still be considered in the rulemaking process and do not need to 
be resubmitted.

FOR FURTHER INFORMATION CONTACT: Mike Frueh, Assistant Director for 
Loan Management (261), Veterans Benefits Administration, Department of 
Veterans Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, at 202-
273-7325. (This is not a toll-free telephone number.)

SUPPLEMENTARY INFORMATION: VA published a notice of proposed rulemaking 
in the Federal Register on February 18, 2005 (70 FR 8472), to amend 
regulations concerning the servicing and claims submission requirements 
on VA-guaranteed home loans. Included in that proposed rule were 
requirements for reporting information to VA under new 38 CFR 36.4315a. 
Under the Revised Reporting Requirements preamble heading, 70 FR 8474-
8475, VA stated that proposed Sec.  36.4315a would require all loan 
holders to electronically report information to the Department by use 
of a computer system, and that VA would be providing more specific 
information on this system prior to implementation. As VA has 
progressed in developing the VA Loan Electronic Reporting Interface 
(VALERI) necessary to receive reports from loan servicers, it has more 
clearly defined the system events and data elements that would be 
reported under Sec.  36.4315a and is now ready to submit for public 
comment this more detailed information on VALERI. VA identifies these 
events and data elements in the supplementary information that follows.

Event Definitions

    (1) Loan paid in full--when the loan obligation has been fully 
satisfied by receipt of funds and not a servicing transfer.
    (2) Transfer of ownership--when the title holder of the property 
changes.
    (3) Release of liability--when an obligor has been released from 
liability.
    (4) Unauthorized transfer of ownership--when the servicer discovers

[[Page 68499]]

that the loan has been assumed without prior approval (only on loans 
originated on or after March 1, 1988).
    (5) SCRA relief filed--when any obligor on the loan requests or is 
deemed to be entitled to relief with regard to the loan under the 
Servicemembers Civil Relief Act (SCRA).
    (6) Partial release of security--when pursuant to 38 CFR 36.4324, 
the holder has released the lien on a part of the security for the 
loan.
    (7) Insurable loss occurred--when an insurable loss has occurred on 
the loan.
    (8) Servicing transfer (transferring servicer)--when a servicer of 
a loan transfers servicing to a new servicer.
    (9) Servicing transfer (receiving servicer)--when the new servicer 
boards the loan.
    (10) Electronic Default Notification (EDN)--when the loan becomes 
at least 61 days delinquent.
    (11) Delinquency status--when the holder notifies VA of any updates 
to the delinquency information on loans for which an EDN has been 
submitted.
    (12) Contact information change--when there is a change to the 
contact information for current owners or a property or mailing address 
change.
    (13) Occupancy status change--when there is a change in property 
occupancy status.
    (14) Bankruptcy filed--when any owner files a petition under the 
Bankruptcy Code.
    (15) Bankruptcy update--when a significant event related to the 
bankruptcy has occurred.
    (16) Loss mitigation letter sent--when the holder sends the loss 
mitigation letter to the borrower as required by 38 CFR 
36.4346(g)(1)(iv).
    (17) Partial payment returned--when the holder returns a partial 
payment to the borrower.
    (18) Default cured/loan reinstated--when a previously reported 
default (i.e., an EDN was filed) has been cured and the loan 
reinstated.
    (19) Cure/reinstatement reversal--when a defaulted loan was 
reported ``default cured/loan reinstated'' and it must later be 
reversed.
    (20) Default reported to credit bureau--when the holder notifies 
any of the credit bureaus of a defaulted loan or loan termination.
    (21) Extenuating property circumstances--when extenuating property 
circumstances occur.
    (22) Repayment plan approved--when the holder approves a repayment 
plan.
    (23) Repayment plan infeasible--when the holder determines that a 
repayment plan is not feasible.
    (24) Special forbearance approved--when the holder approves a 
special forbearance agreement.
    (25) Special forbearance infeasible--when the holder determines 
that a special forbearance agreement is not feasible.
    (26) Loan modification approved--when the holder approves a loan 
modification.
    (27) Loan modification complete--when both the holder and the 
owner(s) have executed the modification agreement.
    (28) Loan modification infeasible--when the holder determines the 
loan modification option infeasible.
    (29) Compromise sale approved--when the holder approves a 
compromise sale.
    (30) Compromise sale complete--when a compromise sale closes.
    (31) Compromise sale infeasible--when the holder determines the 
compromise sale option infeasible.
    (32) Deed-in-lieu of foreclosure approved--when the holder approves 
a deed-in-lieu of foreclosure.
    (33) Deed-in-lieu of foreclosure complete--when the holder records 
the deed-in-lieu of foreclosure.
    (34) Deed-in-lieu of foreclosure infeasible--when the holder 
determines the deed-in-lieu of foreclosure option infeasible.
    (35) Foreclosure referral--when the loan is referred to legal 
counsel for foreclosure.
    (36) Foreclosure sale scheduled--when the foreclosure sale is 
scheduled.
    (37) Substantial equity case--when the holder determines that 
equity of at least 25 percent exists per 38 CFR 36.4319a(e).
    (38) Foreclosure sale postponed or cancelled--when the foreclosure 
sale is postponed or cancelled.
    (39) Results of sale--when the foreclosure sale is complete, the 
holder reports the results of the foreclosure sale.
    (40) Transfer of custody--when the holder notifies VA of the 
holder's intent to convey the property.
    (41) Improper transfer of custody--when the holder discovers that 
the conveyance of the property to VA was improper.
    (42) Invalid sale results--when the foreclosure sale is invalid.
    (43) Changed sale results--when the foreclosure sale results were 
changed.
    (44) Confirmed sale date with no transfer of custody--when the loan 
is terminated, the property is not conveyed, and the property is 
located in a confirmation/ratification of sale state.
    (45) Basic claim information--when the holder files a claim under 
guaranty.
    (46) Refunding Settlement--when VA refunds a loan and the holder 
reports the tax and insurance information.

                        Data Element Definitions
------------------------------------------------------------------------
                                                    Business definition
          Event name              Data elements       of data element
------------------------------------------------------------------------
 Header information for all     VA loan number...  12 position unique
 event reporting.                                   identifier for each
                                                    loan guaranteed by
                                                    VA. The VA Loan
                                                    Number consists of a
                                                    two-position numeric
                                                    code for the
                                                    regional office
                                                    which has
                                                    jurisdiction over
                                                    the loan (OJ), a two-
                                                    position numeric
                                                    code for the
                                                    regional office
                                                    which originated the
                                                    loan (OO), a one-
                                                    position code for
                                                    the type of loan
                                                    (T), and a seven-
                                                    position serial
                                                    number or loan
                                                    number (NNNNNNN).
                                                    The format is
                                                    OJOOTNNNNNNN. VALERI
                                                    uses the twelve-
                                                    digit VA loan number
                                                    as the primary means
                                                    of identifying loan
                                                    data.
 Header information...........  Date of the loan.  Month, day, and year
                                                    that the loan
                                                    originated.
 Header information...........  Original loan       Total amount of
                                 amount.            principal owed on
                                                    the mortgage at loan
                                                    origination before
                                                    any payments are
                                                    made on the loan.
 Header information...........  Property state     The state
                                 abbreviation.      abbreviation of the
                                                    expanded property
                                                    address.
 Header information...........  Current servicer   Unique VA-issued
                                 identification     number for the
                                 number.            servicer location
                                                    that is responsible
                                                    for billing,
                                                    collecting and
                                                    disbursing payments,
                                                    and filing reports
                                                    on the VA loan.
                                                    VALERI also uses
                                                    this as secondary
                                                    loan identification
                                                    data, as needed, to
                                                    identify records.

[[Page 68500]]

 
 Header information...........  Servicer loan      Unique servicer-
                                 number.            issued number given
                                                    to the VA loan for
                                                    record keeping on
                                                    the servicer system.
                                                    VALERI also uses
                                                    this as secondary
                                                    loan identification
                                                    data, as needed, to
                                                    identify records.
 Header information...........  Unique event ID..  Unique event
                                                    identification
                                                    number for event the
                                                    servicer is
                                                    reporting.
 Monthly loan status update...  Unpaid principal   Present portion of
                                 balance.           the loan not yet
                                                    repaid, exclusive of
                                                    interest or other
                                                    charges.
 Monthly loan status update...  Payment due date   Month, day, and year
                                 (a.k.a. date of    of the earliest
                                 first uncured      payment not fully
                                 default).          satisfied by the
                                                    proper application
                                                    of available credits
                                                    or deposits.
 Loan paid in full............  Date loan was      Month, day, and year
                                 paid in full.      of full satisfaction
                                                    of a guaranteed
                                                    loan.
 Transfer of ownership........  Date of transfer   Month, day, and year
                                 of ownership.      that loan is assumed
                                                    by another party
                                                    (date of
                                                    settlement).
 Transfer of ownership........   Last name of       Last name of
                                 transferee, if     individual assuming
                                 applicable.        the loan; reported
                                                    if an individual and
                                                    not an entity is
                                                    assuming the loan.
 Transfer of ownership........  First name of      First name of
                                 transferee, if     individual assuming
                                 applicable.        the loan; reported
                                                    if an individual and
                                                    not an entity is
                                                    assuming the loan
 Transfer of ownership........  Middle initial of  Middle initial of
                                 transferee, if     individual assuming
                                 applicable.        the loan; reported
                                                    if an individual and
                                                    not an entity is
                                                    assuming the loan.
 Transfer of ownership........  Suffix of          Suffix (Jr., Sr.,
                                 transferee, if     III, etc.), if any,
                                 applicable.        of individual
                                                    assuming loan;
                                                    reported if an
                                                    individual and not
                                                    an entity is
                                                    assuming the loan.
 Transfer of ownership........  Social security    Social security
                                 number of          number of individual
                                 transferee, if     assuming loan;
                                 applicable.        reported if an
                                                    individual and not
                                                    an entity is
                                                    assuming the loan.
 Transfer of ownership........  Name of entity     Name of entity
                                 assuming loan,     assuming loan, if
                                 if applicable.     applicable; reported
                                                    if an entity and not
                                                    an individual is
                                                    assuming the loan.
 Transfer of ownership........   Taxpayer           Taxpayer
                                 identification     identification
                                 number, if         number of entity
                                 applicable.        assuming the loan;
                                                    reported if an
                                                    entity and not an
                                                    individual is
                                                    assuming the loan.
 Transfer of ownership........   Last name of co-   Last name of second
                                 transferee, if     individual assuming
                                 applicable.        the loan; reported
                                                    if there is a co-
                                                    transferee.
 Transfer of ownership........   First name of co-  First name of second
                                 transferee, if     individual assuming
                                 applicable.        the loan; reported
                                                    if there is a co-
                                                    transferee.
 Transfer of ownership........   Middle initial     Middle initial of
                                 of co-             second individual
                                 transferee, if     assuming the loan;
                                 applicable.        reported if there is
                                                    a co-transferee.
 Transfer of ownership........  Suffix of co-       Suffix (Jr., Sr.,
                                 transferee, if     III, etc.), if any,
                                 applicable.        of second individual
                                                    assuming loan;
                                                    reported if there is
                                                    a co-transferee.
 Transfer of ownership........  Social security    Social security
                                 number of co-      number of second
                                 transferee, if     individual assuming
                                 applicable.        loan; reported if
                                                    there is a co-
                                                    transferee.
 Release of liability.........  Date of release..  Month, day, and year
                                                    on which the former
                                                    obligor is no longer
                                                    responsible for the
                                                    loan.
 Unauthorized transfer of       Date servicer      Month, day, and year
 ownership.                      discovers          servicer discovers
                                 unauthorized       that a transfer of
                                 transfer.          ownership occurred
                                                    without prior
                                                    approval by VA and/
                                                    or servicer.
 SCRA relief filed............  Date SCRA relief   Month, day, and year
                                 requested.         assistance under the
                                                    SCRA was requested
                                                    (explicit request or
                                                    discovery of
                                                    eligibility during
                                                    servicing).
 SCRA relief filed............  Effective date of  Month, day, and year
                                 SCRA relief (can   that the veteran
                                 be prior to        became eligible for
                                 request date).     assistance under the
                                                    SCRA.
 SCRA relief filed............  Expected SCRA      Month, day, and year
                                 relief end date.   the relief is
                                                    expected to end
                                                    pursuant to the
                                                    requirements of the
                                                    Act.
 Partial release of security..  Date partial       Month, day, and year
                                 release of         that the security
                                 security           document releasing a
                                 document was       portion of the
                                 executed.          secured property is
                                                    executed.
 Partial release of security..  Amount of the      Amount that is
                                 proceeds from      applied to the
                                 the partial        outstanding loan
                                 release of         balance from the
                                 security that      partial release of
                                 are applied to     security; if the
                                 the outstanding    loan to value ratio
                                 loan balance.      is greater than or
                                                    equal to 80 percent,
                                                    the servicer must
                                                    apply sufficient
                                                    proceeds from the
                                                    release to the
                                                    outstanding loan
                                                    balance to bring LTV
                                                    to less than 80
                                                    percent.
 Partial release of security..  Amount of          Amount offered for
                                 consideration      the portion of the
                                 offered for the    security being
                                 property.          released.
 Partial release of security..  Date applied to    Month, day, and year
                                 principal.         that proceeds from
                                                    the partial release
                                                    of security are
                                                    applied to the loan
                                                    balance.
 Partial release of security..  Unpaid principal   Loan balance that is
                                 balance after      outstanding after
                                 application of     application of
                                 proceeds.          proceeds from the
                                                    partial release of
                                                    security.
 Partial release of security..  Value of           Appraised value of
                                 remaining          the remaining
                                 security.          security after the
                                                    release is
                                                    completed.
 Insurable loss occurred......  Type of damage...  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed.
 Insurable loss occurred......  Fire Damage......  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    fire damage.
 Insurable loss occurred......  Neglect..........  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    neglect.
 Insurable loss occurred......  Vandalized.......  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    property vandalism.
 Insurable loss occurred......  Freeze...........  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    the result of a
                                                    freeze.
 Insurable loss occurred......  Storm............  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    caused by a storm.

[[Page 68501]]

 
 Insurable loss occurred......  Flood............  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    flood damage.
 Insurable loss occurred......  Unknown..........  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    unknown.
 Insurable loss occurred......  Hurricane........  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    caused by a
                                                    hurricane.
 Insurable loss occurred......  Hail.............  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    hail damage.
 Insurable loss occurred......  Tornado..........  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    tornado damage.
 Insurable loss occurred......  Wind.............  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    wind damage.
 Insurable loss occurred......  Mud/Landslide....  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    mud or landslide
                                                    damage.
 Insurable loss occurred......  Earthquake.......  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    earthquake damage.
 Insurable loss occurred......  Boiler Explosion.  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed
                                                    was caused by a
                                                    boiler explosion.
 Insurable loss occurred......  Untypical Damage.  Type of property
                                                    damage that resulted
                                                    in an insurance
                                                    claim being filed is
                                                    other than the
                                                    typical specified
                                                    reasons.
 Insurable loss occurred......  Date damage        Month, day, and year
                                 discovered.        the damage is
                                                    discovered by the
                                                    servicer.
 Insurable loss occurred......  Date insurance     Month, day, and year
                                 claim filed.       that the insurance
                                                    claim for damage is
                                                    filed, either by the
                                                    borrower or the
                                                    servicer.
 Insurable loss occurred......  Total loss (Y/N).  Decision made by the
                                                    insurance company as
                                                    to whether or not
                                                    the property can be
                                                    repaired.
 Servicing transfer             Servicing release  Month, day, and year
 (transferring servicer).        date.              that a servicer
                                                    transfers
                                                    responsibility for
                                                    servicing a
                                                    guaranteed loan to
                                                    another servicer.
 Servicing transfer             Name of new        Name of servicer
 (transferring servicer).        servicer.          receiving
                                                    responsibility for
                                                    servicing a
                                                    guaranteed loan.
 Servicing transfer (receiving  Date loan          Month, day, and year
 servicer).                      acquired.          on which a servicer
                                                    became responsible
                                                    for servicing a
                                                    guaranteed loan.
 Servicing transfer (receiving  Previous servicer  Loan number
 servicer).                      loan number.       associated with the
                                                    loan on the previous
                                                    servicer's system.
 Electronic default             Date of first      Month, day, and year
 notification.                   payment on the     of the first
                                 original loan.     scheduled payment on
                                                    the loan (per the
                                                    loan instruments).
 Electronic default             Payment due date.  Month, day, and year
 notification.                                      of the earliest
                                                    payment not fully
                                                    satisfied by the
                                                    proper application
                                                    of available credits
                                                    or deposits.
 Electronic default             Property address   The first line of the
 notification.                   line 1.            expanded property
                                                    address.
 Electronic default             Property address   The second line of
 notification.                   line 2.            the expanded
                                                    property address.
 Electronic default             Property address   The unit number of
 notification.                   unit number.       the expanded
                                                    property address.
 Electronic default             Property address   The city name of the
 notification.                   city.              expanded property
                                                    address.
 Electronic default             Property address   A group of fields
 notification.                   zip code.          containing the zip
                                                    code.
 Electronic default             Property address   The zip code suffix
 notification.                   suffix.            of the expanded
                                                    property address.
 Electronic default             Property address   The state
 notification.                   state              abbreviation of the
                                 abbreviation.      expanded property
                                                    address.
 Electronic default             Last name of       Surname of the
 notification.                   current owner,     individual who
                                 if applicable.     currently owns the
                                                    property; if owner
                                                    is an individual and
                                                    not an entity.
 Electronic default             First name of      First name of the
 notification.                   current owner,     individual who
                                 if applicable.     currently owns the
                                                    property.
 Electronic default             Middle initial of  First letter of the
 notification.                   current owner,     middle name, if any,
                                 if applicable.     of the individual
                                                    who currently owns
                                                    the property; if
                                                    owner is an
                                                    individual and not
                                                    an entity.
 Electronic default             Suffix of current  Suffix (Jr., Sr.,
 notification.                   owner, if          III, etc.), if any,
                                 applicable.        of the individual
                                                    who currently owns
                                                    the property; if
                                                    owner is an
                                                    individual and not
                                                    an entity.
 Electronic default             Social security    Unique SSA-issued
 notification.                   number of          number assigned to
                                 current owner;     the individual who
                                 if current owner   currently owns the
                                 is an individual.  property; if owner
                                                    is an individual and
                                                    not an entity.
 Electronic default             Last name of       Surname of the
 notification.                   current co-        individual who
                                 owner, if          currently co-owns
                                 applicable.        the property, if
                                                    applicable.
 Electronic default             First name of      First name of the
 notification.                   current co-        individual who
                                 owner, if          currently co-owns
                                 applicable.        the property, if
                                                    applicable.
 Electronic default             Middle initial of  First letter of the
 notification.                   current co-        middle name, if any,
                                 owner, if          of the individual
                                 applicable.        who currently co-
                                                    owns the property,
                                                    if applicable.
 Electronic default             Suffix of current  Suffix (Jr., Sr.,
 notification.                   co-owner, if       III, etc.), if any,
                                 applicable.        of the individual
                                                    who currently co-
                                                    owns the property,
                                                    if applicable.
 Electronic default             Social security    Unique SSA-issued
 notification.                   number of          number assigned to
                                 current co-        the individual who
                                 owner; if          currently co-owns
                                 applicable.        the property, if
                                                    applicable.
 Electronic default             Name of entity     Name of entity that
 notification.                   that is current    currently owns the
                                 owner, if          property, if owner
                                 applicable.        is an entity and not
                                                    an individual.
 Electronic default             Taxpayer           Unique IRS-issued
 notification.                   identification     number assigned to
                                 number, if         the entity who
                                 current owner is   currently owns the
                                 an entity.         property, if owner
                                                    is an entity and not
                                                    an individual.
 Electronic default             Mailing address    First line of the
 notification.                   line 1 (if         mailing address of
                                 different from     current owners.
                                 property
                                 address).

[[Page 68502]]

 
 Electronic default             Mailing address    Second line of the
 notification.                   line 2 (if         mailing address of
                                 different from     current owners.
                                 property
                                 address).
 Electronic default             Mailing address    The zip code suffix
 notification.                   suffix (if         of the mailing
                                 different from     address.
                                 property
                                 address).
 Electronic default             Mailing address    The unit number of
 notification.                   unit number (if    the expanded mailing
                                 different from     address.
                                 property
                                 address).
 Electronic default             Mailing address    The city name of the
 notification.                   city (if           expanded mailing
                                 different from     address.
                                 property
                                 address).
 Electronic default             Mailing address    A group of fields
 notification.                   zip code (if       containing the zip
                                 different from     code +4 of the
                                 property           expanded mailing
                                 address).          address.
 Electronic default             Mailing address    The state
 notification.                   state              abbreviation of the
                                 abbreviation (if   expanded mailing
                                 different from     address.
                                 property
                                 address).
 Electronic default             Interest rate on   Rate of interest
 notification.                   loan.              charged on the loan,
                                                    expressed as a
                                                    percentage, per the
                                                    loan instruments.
 Electronic default             Unpaid principal   Present portion of
 notification.                   balance.           the loan not yet
                                                    repaid, exclusive of
                                                    interest or other
                                                    charges.
 Electronic default             Principal and      Amount of principal
 notification.                   interest (P&I)     and interest due
                                 portion of         monthly under the
                                 monthly            terms of the loan
                                 installment.       agreement.
 Electronic default             Taxes and          Amount of the tax and
 notification.                   insurance (T&I)    insurance deposit
                                 portion of         due monthly under
                                 monthly            the terms of the
                                 installment.       loan agreement and
                                                    determined by the
                                                    servicer in
                                                    accordance with Real
                                                    Estate Settlement
                                                    Procedures Act
                                                    (RESPA).
 Electronic default             Other portion of   Amount due monthly
 notification.                   monthly            that does not
                                 installment.       pertain to principal
                                                    and interest, taxes
                                                    and insurance or
                                                    late charges due
                                                    under the terms of
                                                    the obligation as of
                                                    notice date (e.g.,
                                                    Homeowner
                                                    Association (HOA)
                                                    fees).
 Electronic default             Late charges due.  Amount due as a
 notification.                                      result of penalties
                                                    imposed by the
                                                    servicer that a
                                                    borrower must pay
                                                    when a payment is
                                                    missed or made after
                                                    the due date under
                                                    the terms of the
                                                    obligation as of
                                                    notice date.
 Electronic default             Occupant of        Status of who
 notification.                   property.          currently resides in
                                                    the property
                                                    securing the loan
                                                    obligation, or
                                                    reason why no one
                                                    resides there.
 Electronic default             Original veteran.  Individual who signed
 notification.                                      the loan documents
                                                    and originated the
                                                    loan.
 Electronic default             Tenant...........  Individual who rents
 notification.                                      or leases the
                                                    property securing
                                                    the loan obligation.
 Electronic default             Transferee.......  Individual who
 notification.                                      purchased the
                                                    property and may
                                                    have assumed the
                                                    loan.
 Electronic default             Vacant...........  Property is not
 notification.                                      occupied by anyone
                                                    but appears to be
                                                    maintained and is
                                                    secure.
 Electronic default             Abandoned........  Property is vacant,
 notification.                                      is not being
                                                    maintained, is not
                                                    offered for sale or
                                                    rent, and there has
                                                    been no contact with
                                                    the current owner.
 Electronic default             First phone        First phone number
 notification.                   number (obligor    (obligor 1).
                                 1).
 Electronic default             Phone number type  Phone number type for
 notification.                   for first phone    first phone number
                                 number (obligor    (obligor 1).
                                 1).
 Electronic default             Home.............  Home.
 notification.
 Electronic default             Work.............  Work.
 notification.
 Electronic default             Cell.............  Cell.
 notification.
 Electronic default             Second phone       Second phone number
 notification.                   number (obligor    (obligor 1).
                                 1).
 Electronic default             Phone number type  Phone number type for
 notification.                   for second phone   second phone number
                                 number (obligor    (obligor 1).
                                 1).
 Electronic default             Home.............  Home.
 notification.
 Electronic default             Work.............  Work.
 notification.
 Electronic default             Cell.............  Cell.
 notification.
 Electronic default             Phone number       Phone number (obligor
 notification.                   (obligor 2).       2).
 Electronic default             Phone number type  Phone number type
 notification.                   (obligor 2).       (obligor 2).
 Electronic default             Home.............  Home.
 notification.
 Electronic default             Work.............  Work.
 notification.
 Electronic default             Cell.............  Cell.
 notification.
 Electronic default             Phone number 1     Phone number 1 (other
 notification.                   (other             authorized party).
                                 authorized
                                 party).
 Electronic default             Primary reason     Reason obligor is
 notification.                   for default        unable to or did not
                                 (servicer may      remit monthly
                                 report only one).  payments.
 Electronic default             Business failure.  Reason for default is
 notification.                                      the occupation,
                                                    work, or trade in
                                                    which obligor is
                                                    engaged did not
                                                    generate enough
                                                    funds for obligor to
                                                    meet his financial
                                                    obligations.
 Electronic default             Casualty loss....  Reason for default is
 notification.                                      the damage to the
                                                    property as a result
                                                    of a fire, storm,
                                                    accident, flood,
                                                    earthquake, or other
                                                    catastrophic event.
 Electronic default             Curtailment of     Reason for default is
 notification.                   income.            a reduction or the
                                                    curtailment of
                                                    obligor's income
                                                    from employment,
                                                    investment, or other
                                                    sources.
 Electronic default             Death of borrower  Reason for default is
 notification.                                      that the obligor
                                                    died.
 Electronic default             Death of           Reason for default is
 notification.                   borrower's         the death of
                                 family member.     obligor's relative
                                                    who was contributing
                                                    towards the loan
                                                    (directly or
                                                    indirectly) and/or
                                                    that obligor has
                                                    incurred
                                                    extraordinary
                                                    expenses as a result
                                                    of such death.

[[Page 68503]]

 
 Electronic default             Distant            Reason for default is
 notification.                   employment         the result of the
                                 transfer.          borrower being
                                                    transferred or
                                                    relocated to a
                                                    distant job
                                                    location.
 Electronic default             Energy/            Reason for default is
 notification.                   environmental      the result of the
                                 cost.              borrower incurring
                                                    excessive energy
                                                    related costs or
                                                    costs associated
                                                    with removal of an
                                                    environmental hazard
                                                    in or near the
                                                    property.
 Electronic default             Excessive          Reason for default is
 notification.                   obligations.       obligor(s) incurred
                                                    excessive debt in
                                                    addition to the
                                                    mortgage obligation
                                                    or the mortgage
                                                    payment has
                                                    increased
                                                    significantly.
 Electronic default             Fraud............  Reason for default is
 notification.                                      a legal dispute
                                                    arising out of a
                                                    fraudulent or
                                                    illegal action that
                                                    occurred in
                                                    connection with the
                                                    origination of the
                                                    mortgage or at a
                                                    later date.
 Electronic default             Illness of         Reason for default is
 notification.                   borrower.          a serious illness
                                                    that keeps the
                                                    borrower from
                                                    working and
                                                    generating income,
                                                    and/or the borrower
                                                    has incurred
                                                    extraordinary
                                                    expenses as a result
                                                    of the illness.
 Electronic default             Illness of         Reason for default is
 notification.                   borrower's         the result of
                                 family.            obligor(s) incurring
                                                    extraordinary
                                                    expenses as the
                                                    result of the
                                                    illness of a family
                                                    member.
 Electronic default             Inability to rent  Reason for default is
 notification.                   property.          obligor has
                                                    insufficient income
                                                    and/or assets to
                                                    make the monthly
                                                    mortgage payment and
                                                    the rental property
                                                    is vacant.
 Electronic default             Inability to sell  Reason for default is
 notification.                   property.          obligor has
                                                    insufficient income
                                                    and/or assets to
                                                    make the monthly
                                                    mortgage payment and
                                                    is unable to sell
                                                    the property.
 Electronic default             Incarceration....  Reason for default is
 notification.                                      the result of
                                                    obligor being jailed
                                                    or imprisoned,
                                                    regardless of
                                                    whether obligor is
                                                    still incarcerated.
 Electronic default             Marital            Reason for default is
 notification.                   difficulties.      problems associated
                                                    with separation or
                                                    divorce including
                                                    dispute over
                                                    payments during
                                                    divorce settlement,
                                                    reduction in income
                                                    available to pay the
                                                    mortgage debt, etc.
 Electronic default             Military service.  Reason for default is
 notification.                                      the result of
                                                    obligor being called
                                                    into active duty
                                                    status and the
                                                    military pay is
                                                    insufficient to make
                                                    the monthly mortgage
                                                    payment.
 Electronic default             Payment            Reason for default is
 notification.                   adjustment.        the result of the
                                                    borrower being
                                                    unable to make new
                                                    payments that
                                                    resulted from an
                                                    increase in the
                                                    monthly payment.
 Electronic default             Payment dispute..  Reason for default is
 notification.                                      the result of a
                                                    disagreement between
                                                    obligor and the
                                                    mortgage servicer
                                                    about the amount of
                                                    the mortgage
                                                    payment, the
                                                    acceptance of a
                                                    partial payment, the
                                                    application of
                                                    previous payments,
                                                    etc., that result in
                                                    obligor refusing to
                                                    make payments until
                                                    the dispute is
                                                    resolved.
Electronic default              Property problems  Reason for default is
 notification.                                      the result of the
                                                    condition of the
                                                    property such as
                                                    substandard
                                                    construction,
                                                    expensive and
                                                    extensive repairs
                                                    required, etc.
 Electronic default             Servicing          Reason for default is
 notification.                   problems.          the result of
                                                    obligor being
                                                    dissatisfied with
                                                    the servicer of the
                                                    loan or with the
                                                    fact that servicing
                                                    has been transferred
                                                    to a new servicer.
 Electronic default             Tenant not paying  Reason for default is
 notification.                                      the result of the
                                                    obligor's tenant not
                                                    paying rent.
 Electronic default             Transfer of        Reason for default is
 notification.                   ownership.         the result of the
                                                    obligor not making
                                                    payments while sale
                                                    of the property is
                                                    pending.
 Electronic default             Unemployment       Reason for default is
 notification.                   notification.      the result of a
                                                    reduction in
                                                    obligor's income due
                                                    to loss of job.
 Electronic default             Borrower never     Reason for default is
 notification.                   responded to       unknown (unable to
                                 outreach.          get contact or

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