VA Proposes to Give Servicers More Authority to Implement Alternatives to Foreclosure

摘要

The Department of Veterans Affairs (VA) is proposing changes to its loan servicing regulations that would give servicers greater authority and incentives to implement loss-mitigation alternatives to foreclosure on guaranteed loans in default. The proposed regulations were published in the February 18 Federal Register, and comments are due April 19. The rules would also establish a performance-based tier-ranking system for servicers, permit qualified loan holders to review liquidation appraisals and establish the fair market value of properties, and require holders to calculate the net value of properties prior to foreclosure.