Loan Guaranty: Maximum Allowable Foreclosure Timeframes, 75899-75900 [2015-30592]

Download as PDF Federal Register / Vol. 80, No. 233 / Friday, December 4, 2015 / Notices 2. RUPRAH, Sanjivan Singh (a.k.a. ‘‘NASR, Samir M.’’); DOB 09 Aug 1966; POB Kisumu, Kenya; nationality Kenya; Passport D–001829–00 (Liberia); alt. Passport 790015037 (United Kingdom) issued 10 Jul 1998 expires 10 Jul 2008; Businessman; Former Deputy Commissioner, Bureau of Maritime Affairs of Liberia (individual) [DRCONGO]. Dated: December 1, 2015. John E. Smith, Acting Director, Office of Foreign Assets Control. [FR Doc. 2015–30687 Filed 12–3–15; 8:45 am] BILLING CODE 4810–AL–P E.O. 13224, ‘‘Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism’’: 1. NUR, Mohammed (a.k.a. NUR, Mammam; a.k.a. NUR, Mohammad; a.k.a. NURA, Mohammed; a.k.a. NURU, Mallam Ahmed; a.k.a. ‘‘MUHAMMAD, Muhammad’’); DOB 01 Jan 1972; POB Maiduguri, Nigeria; nationality Nigeria (individual) [SDGT] (Linked To: BOKO HARAM). 2. CHAD, Mustapha (a.k.a. TCHAD, Mustapha); DOB 01 Jan 1978; nationality Chad (individual) [SDGT] (Linked To: BOKO HARAM). Dated: December 1, 2015. John E. Smith, Acting Director, Office of Foreign Assets Control. DEPARTMENT OF THE TREASURY Office of Foreign Assets Control [FR Doc. 2015–30646 Filed 12–3–15; 8:45 am] Sanctions Actions Pursuant to Executive Orders 13224 BILLING CODE 4810–AL–P Office of Foreign Assets Control, Treasury. ACTION: Notice. DEPARTMENT OF VETERANS AFFAIRS AGENCY: The Treasury Department’s Office of Foreign Assets Control (OFAC) is publishing the names of two individuals whose property and interests in property are blocked pursuant to Executive Order 13224 of September 23, 2001, ‘‘Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism.’’ DATES: OFAC’s actions described in this notice are effective on December 1, 2015. FOR FURTHER INFORMATION CONTACT: Associate Director for Global Targeting, tel.: 202/622–2420, Assistant Director for Sanctions Compliance & Evaluation, tel.: 202/622–2490, Assistant Director for Licensing, tel.: 202/622–2480, Office of Foreign Assets Control, or Chief Counsel (Foreign Assets Control), tel.: 202/622–2410, Office of the General Counsel, Department of the Treasury (not toll free numbers). SUPPLEMENTARY INFORMATION: asabaliauskas on DSK5VPTVN1PROD with NOTICES SUMMARY: Electronic and Facsimile Availability The SDN List and additional information concerning OFAC sanctions programs are available from OFAC’s Web site (www.treasury.gov/ofac). Certain general information pertaining to OFAC’s sanctions programs is also available via facsimile through a 24hour fax-on-demand service, tel.: 202– 622–0077. Notice of OFAC Actions On December 1, 2015, OFAC blocked the property and interests in property of the following individuals pursuant to VerDate Sep<11>2014 18:41 Dec 03, 2015 Jkt 238001 Loan Guaranty: Maximum Allowable Foreclosure Timeframes AGENCY: Department of Veterans Affairs (VA). ACTION: Notice. This notice provides information to participants in the U.S. Department of Veterans Affairs (VA) home loan guaranty program concerning the state foreclosure timeframes allowable in the calculation of the maximum interest payable on a foreclosure of a VA-guaranteed loan. The table in this notice contains the timeframes the Secretary has determined to be reasonable and customary for all states, following an annual review of amounts allowed by other government-related home loan programs. SUMMARY: The new foreclosure timeframes will be effective for all loan terminations completed on or after January 4, 2016. FOR FURTHER INFORMATION CONTACT: Andrew Trevayne, Assistant Director for Loan and Property Management, Department of Veterans Affairs, 810 Vermont Ave. NW., Washington, DC 20420, (202) 632–8795 (not a toll-free number). DATES: In accordance with 38 U.S.C. Chapter 37, the VA home loan guaranty program 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. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 75899 Computation of guaranty claims is addressed in 38 CFR 36.4324, which states that one part of the indebtedness upon which the guaranty percentage is applied is the allowable expenses/ advances as described in 38 CFR 36.4314 (re-designated from § 36.4814). The Secretary annually reviews timeframes in connection with the termination of single-family housing loans including foreclosure, deed-inlieu of foreclosure, and bankruptcyrelated services, issued by the Department of Housing and Urban Development (HUD), Fannie Mae, and Freddie Mac. See 38 CFR 36.4322(a). Based on increases announced over the past year by these entities, the Secretary has deemed it necessary to publish in the Federal Register revised timeframes the Secretary now determines reasonable and customary. The following table represents the Secretary’s determination of the reasonable foreclosure timeframes for the preferred method of terminating VAguaranteed loans and mirrors the timeframes allowed by Fannie Mae. This table will be available throughout the year at: http://www.benefits.va.gov/ homeloans/. Pursuant to 38 CFR 36.4314(f)(2) and 36.4324(a)(3)(ii), a guaranty claim can include unpaid interest for a period of up to 210 calendar days from the due date of the last paid installment, in addition to the State calendar day timeframe for foreclosure.1 These timeframes will be allowed for all loan terminations completed on or after January 4, 2016. Jurisdiction Alabama ................................ Alaska ................................... Arizona .................................. Arkansas ............................... California ............................... Colorado ............................... Connecticut ........................... Delaware ............................... District of Columbia .............. Florida ................................... Georgia ................................. Guam .................................... Hawaii ................................... Idaho ..................................... Illinois .................................... Indiana .................................. Timeframe (calendar days) 360 450 330 450 510 420 750 780 300 810 330 500 840 540 630 570 1 VA will extend the timeframes above, and increase the amount of resultant interest payable under a claim, if VA determines that an acceptable cause prevented the holder from foreclosing timely. For an in-depth explanation of the allowable causes and the procedures for requesting increases, see 38 CFR 36.4314(f)(2), 36.4324(a)(3)(ii), VA Loan Electronic Reporting Interface (VALERI) Servicer guide, and VA’s Web site at http:// www.benefits.va.gov/homeloans/servicers_ valeri.asp. E:\FR\FM\04DEN1.SGM 04DEN1 75900 Federal Register / Vol. 80, No. 233 / Friday, December 4, 2015 / Notices Jurisdiction Timeframe (calendar days) asabaliauskas on DSK5VPTVN1PROD with NOTICES Iowa ...................................... Kansas .................................. Kentucky ............................... Louisiana .............................. Maine .................................... Maryland ............................... Massachusetts ...................... Michigan ............................... Minnesota ............................. Mississippi ............................ Missouri ................................ Montana ................................ Nebraska .............................. Nevada ................................. New Hampshire .................... New Jersey ........................... New Mexico .......................... New York—Western Counties 2 .................................. New York—Eastern Counties North Carolina ...................... North Dakota ........................ Ohio ...................................... Oklahoma ............................. VerDate Sep<11>2014 18:41 Dec 03, 2015 630 420 540 510 690 660 440 300 390 360 330 450 420 690 420 750 720 820 990 450 630 570 570 Jkt 238001 Timeframe (calendar days) Jurisdiction Oregon .................................. Pennsylvania ........................ Puerto Rico ........................... Rhode Island ........................ South Carolina ...................... South Dakota ........................ Tennessee ............................ Texas .................................... Utah ...................................... Vermont ................................ Virgin Islands ........................ Virginia .................................. Washington ........................... West Virginia ........................ Wisconsin ............................. Wyoming ............................... 600 750 720 660 600 570 300 390 540 810 510 390 660 300 510 330 authorized the undersigned to sign and submit the document to the Office of the Federal Register for publication electronically as an official document of the Department of Veterans Affairs. Robert L. Nabors II, Chief of Staff, Department of Veterans Affairs, approved this document on November 20, 2015, for publication. Dated: November 30, 2015. Michael Shores, Chief Impact Analyst, Office of Regulation Policy & Management, Office of the General Counsel, Department of Veterans Affairs. [FR Doc. 2015–30592 Filed 12–3–15; 8:45 am] BILLING CODE 8320–01–P Signing Authority The Secretary of Veterans Affairs, or designee, approved this document and 2 Western Counties of New York for VA are: Allegany, Cattaraugus, Chautauqua, Erie, Genesee, PO 00000 Frm 00052 Fmt 4703 Sfmt 9990 Livingston, Monroe, Niagara, Ontario, Orleans, Steuben, Wayne, Wyoming, and Yates. The remaining counties are in Eastern New York. E:\FR\FM\04DEN1.SGM 04DEN1

Agencies

[Federal Register Volume 80, Number 233 (Friday, December 4, 2015)]
[Notices]
[Pages 75899-75900]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30592]


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DEPARTMENT OF VETERANS AFFAIRS


Loan Guaranty: Maximum Allowable Foreclosure Timeframes

AGENCY: Department of Veterans Affairs (VA).

ACTION: Notice.

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SUMMARY: This notice provides information to participants in the U.S. 
Department of Veterans Affairs (VA) home loan guaranty program 
concerning the state foreclosure timeframes allowable in the 
calculation of the maximum interest payable on a foreclosure of a VA-
guaranteed loan. The table in this notice contains the timeframes the 
Secretary has determined to be reasonable and customary for all states, 
following an annual review of amounts allowed by other government-
related home loan programs.

DATES: The new foreclosure timeframes will be effective for all loan 
terminations completed on or after January 4, 2016.

FOR FURTHER INFORMATION CONTACT: Andrew Trevayne, Assistant Director 
for Loan and Property Management, Department of Veterans Affairs, 810 
Vermont Ave. NW., Washington, DC 20420, (202) 632-8795 (not a toll-free 
number).

SUPPLEMENTARY INFORMATION: In accordance with 38 U.S.C. Chapter 37, the 
VA home loan guaranty program 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. Computation of guaranty claims is addressed in 38 CFR 36.4324, 
which states that one part of the indebtedness upon which the guaranty 
percentage is applied is the allowable expenses/advances as described 
in 38 CFR 36.4314 (re-designated from Sec.  36.4814).
    The Secretary annually reviews timeframes in connection with the 
termination of single-family housing loans including foreclosure, deed-
in-lieu of foreclosure, and bankruptcy-related services, issued by the 
Department of Housing and Urban Development (HUD), Fannie Mae, and 
Freddie Mac. See 38 CFR 36.4322(a). Based on increases announced over 
the past year by these entities, the Secretary has deemed it necessary 
to publish in the Federal Register revised timeframes the Secretary now 
determines reasonable and customary.
    The following table represents the Secretary's determination of the 
reasonable foreclosure timeframes for the preferred method of 
terminating VA-guaranteed loans and mirrors the timeframes allowed by 
Fannie Mae. This table will be available throughout the year at: http://www.benefits.va.gov/homeloans/. Pursuant to 38 CFR 36.4314(f)(2) and 
36.4324(a)(3)(ii), a guaranty claim can include unpaid interest for a 
period of up to 210 calendar days from the due date of the last paid 
installment, in addition to the State calendar day timeframe for 
foreclosure.\1\ These timeframes will be allowed for all loan 
terminations completed on or after January 4, 2016.
---------------------------------------------------------------------------

    \1\ VA will extend the timeframes above, and increase the amount 
of resultant interest payable under a claim, if VA determines that 
an acceptable cause prevented the holder from foreclosing timely. 
For an in-depth explanation of the allowable causes and the 
procedures for requesting increases, see 38 CFR 36.4314(f)(2), 
36.4324(a)(3)(ii), VA Loan Electronic Reporting Interface (VALERI) 
Servicer guide, and VA's Web site at http://www.benefits.va.gov/homeloans/servicers_valeri.asp.

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                                                             Timeframe
                      Jurisdiction                           (calendar
                                                               days)
------------------------------------------------------------------------
Alabama.................................................             360
Alaska..................................................             450
Arizona.................................................             330
Arkansas................................................             450
California..............................................             510
Colorado................................................             420
Connecticut.............................................             750
Delaware................................................             780
District of Columbia....................................             300
Florida.................................................             810
Georgia.................................................             330
Guam....................................................             500
Hawaii..................................................             840
Idaho...................................................             540
Illinois................................................             630
Indiana.................................................             570

[[Page 75900]]

 
Iowa....................................................             630
Kansas..................................................             420
Kentucky................................................             540
Louisiana...............................................             510
Maine...................................................             690
Maryland................................................             660
Massachusetts...........................................             440
Michigan................................................             300
Minnesota...............................................             390
Mississippi.............................................             360
Missouri................................................             330
Montana.................................................             450
Nebraska................................................             420
Nevada..................................................             690
New Hampshire...........................................             420
New Jersey..............................................             750
New Mexico..............................................             720
New York--Western Counties \2\..........................             820
New York--Eastern Counties..............................             990
North Carolina..........................................             450
North Dakota............................................             630
Ohio....................................................             570
Oklahoma................................................             570
Oregon..................................................             600
Pennsylvania............................................             750
Puerto Rico.............................................             720
Rhode Island............................................             660
South Carolina..........................................             600
South Dakota............................................             570
Tennessee...............................................             300
Texas...................................................             390
Utah....................................................             540
Vermont.................................................             810
Virgin Islands..........................................             510
Virginia................................................             390
Washington..............................................             660
West Virginia...........................................             300
Wisconsin...............................................             510
Wyoming.................................................             330
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Signing Authority

    The Secretary of Veterans Affairs, or designee, approved this 
document and authorized the undersigned to sign and submit the document 
to the Office of the Federal Register for publication electronically as 
an official document of the Department of Veterans Affairs. Robert L. 
Nabors II, Chief of Staff, Department of Veterans Affairs, approved 
this document on November 20, 2015, for publication.
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    \2\ Western Counties of New York for VA are: Allegany, 
Cattaraugus, Chautauqua, Erie, Genesee, Livingston, Monroe, Niagara, 
Ontario, Orleans, Steuben, Wayne, Wyoming, and Yates. The remaining 
counties are in Eastern New York.

    Dated: November 30, 2015.
Michael Shores,
Chief Impact Analyst, Office of Regulation Policy & Management, Office 
of the General Counsel, Department of Veterans Affairs.
[FR Doc. 2015-30592 Filed 12-3-15; 8:45 am]
 BILLING CODE 8320-01-P