Veterans' Advisory Committee on Education, Notice of Meeting, 48789 [2013-19343]

Download as PDF Federal Register / Vol. 78, No. 154 / Friday, August 9, 2013 / Notices Last name First name ZURMUHLE ........................................................ ZWAHLEN .......................................................... ROBERT .......................................................... ANNA Dated: July 25, 2013. Ann V. Gaudelli, Manager Team 103, Examinations Operations—Philadelphia Compliance Services. [FR Doc. 2013–19224 Filed 8–8–13; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF VETERANS AFFAIRS Loan Guaranty: Percentage to Determine Net Value AGENCY: Department of Veterans Affairs (VA). ACTION: Notice. This notice provides information to lenders and mortgage holders in the Department of Veterans Affairs (VA) loan guaranty program concerning the percentage to be used in calculating the purchase price of a property that secured a terminated loan. The new percentage is 14.95 percent. DATES: The new percentage is effective October 8, 2013. FOR FURTHER INFORMATION CONTACT: Mr. Andrew Trevayne, Assistant Director for Loan and Property Management (261), Loan Guaranty Service, Department of Veterans Affairs, Washington, DC 20420, (202) 632–8795. (This is not a toll-free number.) SUPPLEMENTARY INFORMATION: The VA home loan program authorized by Title 38, United States Code (U.S.C.), Chapter 37, offers a partial guaranty against loss to lenders who make home loans to veterans. VA regulations concerning the payment of loan guaranty claims are set forth at 38 CFR 36.4300, et seq. Conveyance of properties to VA is addressed in 38 CFR 36.4323, which refers to the formulas in 38 U.S.C. 3732(c) for determining whether a loan holder has the option to convey a property to VA following termination. A key component of this is the ‘‘net value’’ of the property to the Government, as defined in 38 CFR 36.4301. Essentially ‘‘net value’’ is the fair market value of the property, minus the total costs the Secretary estimates would be incurred by VA resulting from the acquisition and disposition of the property for property operating expenses, selling expenses, and administrative cost. Each year, for all properties VA acquired under 38 CFR 36.3423, VA reviews the pmangrum on DSK3VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 14:54 Aug 08, 2013 Jkt 229001 48789 Middle name/initials average operating expenses incurred for managing those properties which were sold during the preceding year, as well as the average administrative cost to VA associated with the property management activity. VA also includes in the calculation an amount equal to the gain or loss experienced by VA on the resale of acquired properties sold during the previous fiscal year. VA annually analyzes its property management results and, when appropriate, publishes a new net value percentage in the Federal Register. For the past 12 years, the percentage has been 11.87 percent; during that period, VA elected not to change the figure for a multitude of extenuating circumstances. Initially, VA experienced data difficulties arising from implementation of a new computer system, followed by: a transition to the private sector of the property management function; issues arising from that privatization; and the beginning of a serious and prolonged recession which greatly impacted the housing market and led VA to avoid significant changes which could adversely affect the ability of veterans to obtain housing loans. At this time, VA believes that the market is showing signs of stability that can sustain a change in the net value to less than the historical high of 15.11 percent, without being a detriment to veterans. Therefore, in order to more accurately reflect the costs of acquiring, managing, and reselling properties in the home loan program, based on the recent fiscal year’s data, VA is revising the net value percentage to 14.95 percent. Accordingly, the loan holder (or its authorized servicing agent) will use 14.95 percent to calculate the subtraction from the fair market value to arrive at the ‘‘net value’’ of the property under the provisions of 38 CFR 36.4322(c). This revised percentage will be used in ‘‘net value’’ calculations made by holders and servicers on and after October 8, 2013. Approved: July 31, 2013. Jose D. Riojas, Interim Chief of Staff, Department of Veterans Affairs. WALTEER DEPARTMENT OF VETERANS AFFAIRS Veterans’ Advisory Committee on Education, Notice of Meeting The Department of Veterans Affairs (VA) gives notice under the Federal Advisory Committee Act, 5 U.S.C. App. 2, that the Veterans’ Advisory Committee on Education will meet on August 13–14, 2013, in the First Floor Conference Room at 1307 New York Avenue NW., Washington, DC, from 8 a.m. to 4:30 p.m. on both days. The meeting is open to the public. The purpose of the Committee is to advise the Secretary of Veterans Affairs on the administration of education and training programs for Veterans, Servicepersons, Reservists, and dependents of Veterans under Chapters 30, 32, 33, 35, and 36 of title 38, and Chapter 1606 of title 10, United States Code. On August 13, the Committee will receive opening remarks and an overview by the Committee’s Chair; updates on the Post 9/11 GI Bill; VA’s implementation of Executive Order 13607 and Public Law 112, 249; VA’s partnership with Student Veterans of America and the National Student Clearing House; and the redesign of the Transition Assistance Program. On August 14, the Committee will review and summarize issues raised throughout the meeting and discuss Committee work groups and next steps. Oral statements will be heard at 3 p.m. The public may submit written statements for the Committee’s review to Barrett Y. Bogue Designated Federal Officer, Department of Veterans Affairs, Veterans Benefits Administration (225D), 810 Vermont Avenue NW., Washington, DC 20420 or email at barrett.bogue@va.gov. Any member of the public wishing to attend the meeting or seeking additional information should contact Mr. Bogue at (202) 461– 9800. [FR Doc. 2013–19315 Filed 8–8–13; 8:45 am] Dated: August 6, 2013. By Direction of the Secretary. Vivian Drake, Committee Management Officer. BILLING CODE 8320–01–P [FR Doc. 2013–19343 Filed 8–8–13; 8:45 am] PO 00000 BILLING CODE 8320–01–P Frm 00148 Fmt 4703 Sfmt 9990 E:\FR\FM\09AUN1.SGM 09AUN1

Agencies

[Federal Register Volume 78, Number 154 (Friday, August 9, 2013)]
[Notices]
[Page 48789]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-19343]


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DEPARTMENT OF VETERANS AFFAIRS


Veterans' Advisory Committee on Education, Notice of Meeting

    The Department of Veterans Affairs (VA) gives notice under the 
Federal Advisory Committee Act, 5 U.S.C. App. 2, that the Veterans' 
Advisory Committee on Education will meet on August 13-14, 2013, in the 
First Floor Conference Room at 1307 New York Avenue NW., Washington, 
DC, from 8 a.m. to 4:30 p.m. on both days. The meeting is open to the 
public.
    The purpose of the Committee is to advise the Secretary of Veterans 
Affairs on the administration of education and training programs for 
Veterans, Servicepersons, Reservists, and dependents of Veterans under 
Chapters 30, 32, 33, 35, and 36 of title 38, and Chapter 1606 of title 
10, United States Code.
    On August 13, the Committee will receive opening remarks and an 
overview by the Committee's Chair; updates on the Post 9/11 GI Bill; 
VA's implementation of Executive Order 13607 and Public Law 112, 249; 
VA's partnership with Student Veterans of America and the National 
Student Clearing House; and the redesign of the Transition Assistance 
Program. On August 14, the Committee will review and summarize issues 
raised throughout the meeting and discuss Committee work groups and 
next steps. Oral statements will be heard at 3 p.m.
    The public may submit written statements for the Committee's review 
to Barrett Y. Bogue Designated Federal Officer, Department of Veterans 
Affairs, Veterans Benefits Administration (225D), 810 Vermont Avenue 
NW., Washington, DC 20420 or email at barrett.bogue@va.gov. Any member 
of the public wishing to attend the meeting or seeking additional 
information should contact Mr. Bogue at (202) 461-9800.

    Dated: August 6, 2013.

    By Direction of the Secretary.
Vivian Drake,
Committee Management Officer.
[FR Doc. 2013-19343 Filed 8-8-13; 8:45 am]
BILLING CODE 8320-01-P