Department of Veterans Affairs October 26, 2016 – Federal Register Recent Federal Regulation Documents

Loan Guaranty Vendee Loan Fees
Document Number: 2016-25738
Type: Proposed Rule
Date: 2016-10-26
Agency: Department of Veterans Affairs
This document proposes to amend the Department of Veterans Affairs (VA) Loan Guaranty Service (LGY) regulations to establish reasonable fees that VA may charge in connection with the origination and servicing of vendee loans made by VA. Fees proposed in this rulemaking are consistent with those charged in the private mortgage industry, and such fees would help VA to ensure the sustainability of this vendee loan program. The loans that would be subject to the fees are not veterans' benefits. This rule would also ensure that all direct and vendee loans made by the Secretary are safe harbor qualified mortgages.