Department of Veterans Affairs May 9, 2014 – Federal Register Recent Federal Regulation Documents

Loan Guaranty: Ability-To-Repay Standards and Qualified Mortgage Definition Under the Truth in Lending Act
Document Number: 2014-10600
Type: Rule
Date: 2014-05-09
Agency: Department of Veterans Affairs
This document amends the Department of Veterans Affairs (VA) Loan Guaranty regulations to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, requiring that VA define the types of VA loans that are ``qualified mortgages'' for the purposes of the new Ability to Repay provisions of the Truth in Lending Act. This rule establishes which VA-guaranteed loans are to be considered ``qualified mortgages'' and have either safe harbor protection or the presumption that the borrower is able to repay a loan, in accordance with the new Ability to Repay provisions. The rule does not change VA's regulations or policies with respect to how lenders are to originate mortgages, except to the extent lenders want to make qualified mortgages.
Supportive Services for Veteran Families Program
Document Number: 2014-10251
Type: Proposed Rule
Date: 2014-05-09
Agency: Department of Veterans Affairs
The Department of Veterans Affairs (VA) proposes to amend its regulations concerning the Supportive Services for Veteran Families Program (SSVF). The proposed changes would clarify, consistent with existing regulations, that grantees must focus on providing permanent housing to eligible veteran families who, without SSVF assistance, would likely become homeless. The proposed clarifications are intended to emphasize the intended goals of SSVF. The proposed rule would expand grantees' authority to provide certain services to all very low-income veteran families, and specifically to those veteran families with significantly lower economic resources, which we would identify as extremely low-income veteran families. The purpose of this expanded authority is to address identified needs based on the administration of SSVF since its inception, and to provide greater incentive to grantees to assist these particularly vulnerable veteran families. Finally, the proposed rule would clarify that certain services are not permissible uses of SSVF funds.
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