Loan guaranty: Housing loans in default; servicing, liquidating, and claims procedures,
[Federal Register: November 27, 2006 (Volume 71, Number 227)]
[Proposed Rules]
[Page 68498-68517]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr27no06-18]
DEPARTMENT OF VETERANS AFFAIRS
38 CFR Part 36
RIN 2900-AL65
Loan Guaranty: Loan Servicing and Claims Procedures Modifications
AGENCY: Department of Veterans Affairs.
ACTION: Supplemental notice of proposed rulemaking; reopening of comment period.
SUMMARY: This document provides supplemental notice regarding a proposal to amend the Department of Veterans Affairs (VA) Loan Guaranty regulations related to several aspects of the servicing and liquidating of guaranteed housing loans in default, and submission of guaranty claims by loan holders. It provides specific information regarding the computer-based system that VA proposes to implement as part of the loan servicing and claims procedure modifications in this rulemaking. VA is reopening the comment period for the limited purpose of accepting public comments concerning the supplemental information provided in this notice.
DATES: Comments must be received on or before December 11, 2006. All comments previously received following publication of the proposed rule referenced above are being considered and do not need to be resubmitted.
ADDRESSES: Written comments may be submitted through http://www.regulations.gov; by mail or hand-delivery to the Director,
Regulations Management (00REG), Department of Veterans Affairs, 810 Vermont Ave., NW, Room 1068, Washington, DC 20420; or by fax to (202) 273-9026. Comments should indicate that they are submitted in response to ``RIN 2900-AL65.''; Copies of comments received will be available for public inspection in the Office of Regulation Policy and Management, Room 1063B, between the hours of 8 a.m. and 4:30 p.m., Monday through Friday (except holidays). Please call (202) 273-9515 for an appointment. In addition, during the comment period, comments may be viewed online through the Federal Document Management System (FDMS). Comments previously received regarding the notice of proposed rulemaking for RIN 2900-AL65, published February 18, 2005 (70 FR 8472), will still be considered in the rulemaking process and do not need to be resubmitted.
FOR FURTHER INFORMATION CONTACT: Mike Frueh, Assistant Director for Loan Management (261), Veterans Benefits Administration, Department of Veterans Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, at 202- 273-7325. (This is not a toll-free telephone number.)
SUPPLEMENTARY INFORMATION: VA published a notice of proposed rulemaking in the Federal Register on February 18, 2005 (70 FR 8472), to amend regulations concerning the servicing and claims submission requirements on VA-guaranteed home loans. Included in that proposed rule were requirements for reporting information to VA under new 38 CFR 36.4315a. Under the Revised Reporting Requirements preamble heading, 70 FR 8474- 8475, VA stated that proposed Sec. 36.4315a would require all loan holders to electronically report information to the Department by use of a computer system, and that VA would be providing more specific information on this system prior to implementation. As VA has progressed in developing the VA Loan Electronic Reporting Interface (VALERI) necessary to receive reports from loan servicers, it has more clearly defined the system events and data elements that would be reported under Sec. 36.4315a and is now ready to submit for public comment this more detailed information on VALERI. VA identifies these events and data elements in the supplementary information that follows.
Event Definitions
(1) Loan paid in full--when the loan obligation has been fully satisfied by receipt of funds and not a servicing transfer.
(2) Transfer of ownership--when the title holder of the property changes.
(3) Release of liability--when an obligor has been released from liability.
(4) Unauthorized transfer of ownership--when the servicer discovers
[[Page 68499]]
that the loan has been assumed without prior approval (only on loans originated on or after March 1, 1988).
(5) SCRA relief filed--when any obligor on the loan requests or is deemed to be entitled to relief with regard to the loan under the Servicemembers Civil Relief Act (SCRA).
(6) Partial release of security--when pursuant to 38 CFR 36.4324, the holder has released the lien on a part of the security for the loan.
(7) Insurable loss occurred--when an insurable loss has occurred on the loan.
(8) Servicing transfer (transferring servicer)--when a servicer of a loan transfers servicing to a new servicer.
(9) Servicing transfer (receiving servicer)--when the new servicer boards the loan.
(10) Electronic Default Notification (EDN)--when the loan becomes at least 61 days delinquent.
(11) Delinquency status--when the holder notifies VA of any updates to the delinquency information on loans for which an EDN has been submitted.
(12) Contact information change--when there is a change to the contact information for current owners or a property or mailing address change.
(13) Occupancy status change--when there is a change in property occupancy status.
(14) Bankruptcy filed--when any owner files a petition under the Bankruptcy Code.
(15) Bankruptcy update--when a significant event related to the bankruptcy has occurred.
(16) Loss mitigation letter sent--when the holder sends the loss mitigation letter to the borrower as required by 38 CFR 36.4346(g)(1)(iv).
(17) Partial payment returned--when the holder returns a partial payment to the borrower.
(18) Default cured/loan reinstated--when a previously reported default (i.e., an EDN was filed) has been cured and the loan reinstated.
(19) Cure/reinstatement reversal--when a defaulted loan was reported ``default cured/loan reinstated'' and it must later be reversed.
(20) Default reported to credit bureau--when the holder notifies any of the credit bureaus of a defaulted loan or loan termination.
(21) Extenuating property circumstances--when extenuating property circumstances occur.
(22) Repayment plan approved--when the holder approves a repayment plan.
(23) Repayment plan infeasible--when the holder determines that a repayment plan is not feasible.
(24) Special forbearance approved--when the holder approves a special forbearance agreement.
(25) Special forbearance infeasible--when the holder determines that a special forbearance agreement is not feasible.
(26) Loan modification approved--when the holder approves a loan modification.
(27) Loan modification complete--when both the holder and the owner(s) have executed the modification agreement.
(28) Loan modification infeasible--when the holder determines the loan modification option infeasible.
(29) Compromise sale approved--when the holder approves a compromise sale.
(30) Compromise sale complete--when a compromise sale closes.
(31) Compromise sale infeasible--when the holder determines the compromise sale option infeasible.
(32) Deed-in-lieu of foreclosure approved--when the holder approves a deed-in-lieu of foreclosure.
(33) Deed-in-lieu of foreclosure complete--when the holder records the deed-in-lieu of foreclosure.
(34) Deed-in-lieu of foreclosure infeasible--when the holder determines the deed-in-lieu of foreclosure option infeasible.
(35) Foreclosure referral--when the loan is referred to legal counsel for foreclosure.
(36) Foreclosure sale scheduled--when the foreclosure sale is scheduled.
(37) Substantial equity case--when the holder determines that equity of at least 25 percent exists per 38 CFR 36.4319a(e).
(38) Foreclosure sale postponed or cancelled--when the foreclosure sale is postponed or cancelled.
(39) Results of sale--when the foreclosure sale is complete, the holder reports the results of the foreclosure sale.
(40) Transfer of custody--when the holder notifies VA of the holder's intent to convey the property.
(41) Improper transfer of custody--when the holder discovers that the conveyance of the property to VA was improper.
(42) Invalid sale results--when the foreclosure sale is invalid.
(43) Changed sale results--when the foreclosure sale results were changed.
(44) Confirmed sale date with no transfer of custody--when the loan is terminated, the property is not conveyed, and the property is located in a confirmation/ratification of sale state.
(45) Basic claim information--when the holder files a claim under guaranty.
(46) Refunding Settlement--when VA refunds a loan and the holder reports the tax and insurance information.
Data Element Definitions
Business definition Event name
Data elements of data element
Header information for all VA loan number... 12 position unique event reporting.
identifier for each loan guaranteed by VA. The VA Loan Number consists of a two-position numeric code for the regional office which has jurisdiction over the loan (OJ), a two- position numeric code for the regional office which originated the loan (OO), a one- position code for the type of loan (T), and a seven- position serial number or loan number (NNNNNNN). The format is OJOOTNNNNNNN. VALERI uses the twelve- digit VA loan number as the primary means of identifying loan data. Header information........... Date of the loan. Month, day, and year that the loan originated. Header information........... Original loan Total amount of amount.
principal owed on the mortgage at loan origination before any payments are made on the loan. Header information........... Property state The state abbreviation. abbreviation of the expanded property address. Header information........... Current servicer Unique VA-issued identification number for the number.
servicer location that is responsible for billing, collecting and disbursing payments, and filing reports on the VA loan. VALERI also uses this as secondary loan identification data, as needed, to identify records.
[[Page 68500]]
Header information........... Servicer loan Unique servicer- number.
issued number given to the VA loan for record keeping on the servicer system. VALERI also uses this as secondary loan identification data, as needed, to identify records. Header information........... Unique event ID.. Unique event identification number for event the servicer is reporting. Monthly loan status update... Unpaid principal Present portion of balance.
the loan not yet repaid, exclusive of interest or other charges. Monthly loan status update... Payment due date Month, day, and year (a.k.a. date of of the earliest first uncured payment not fully default).
satisfied by the proper application of available credits or deposits. Loan paid in full............ Date loan was Month, day, and year paid in full. of full satisfaction of a guaranteed loan. Transfer of ownership........ Date of transfer Month, day, and year of ownership. that loan is assumed by another party (date of settlement). Transfer of ownership........ Last name of Last name of transferee, if individual assuming applicable.
the loan; reported if an individual and not an entity is assuming the loan. Transfer of ownership........ First name of First name of transferee, if individual assuming applicable.
the loan; reported if an individual and not an entity is assuming the loan Transfer of ownership........ Middle initial of Middle initial of transferee, if individual assuming applicable.
the loan; reported if an individual and not an entity is assuming the loan. Transfer of ownership........ Suffix of
Suffix (Jr., Sr., transferee, if III, etc.), if any, applicable.
of individual assuming loan; reported if an individual and not an entity is assuming the loan. Transfer of ownership........ Social security Social security number of
number of individual transferee, if assuming loan; applicable.
reported if an individual and not an entity is assuming the loan. Transfer of ownership........ Name of entity Name of entity assuming loan, assuming loan, if if applicable. applicable; reported if an entity and not an individual is assuming the loan. Transfer of ownership........ Taxpayer
Taxpayer identification identification number, if
number of entity applicable.
assuming the loan; reported if an entity and not an individual is assuming the loan. Transfer of ownership........ Last name of co- Last name of second transferee, if individual assuming applicable.
the loan; reported if there is a co- transferee. Transfer of ownership........ First name of co- First name of second transferee, if individual assuming applicable.
the loan; reported if there is a co- transferee. Transfer of ownership........ Middle initial Middle initial of of co-
second individual transferee, if assuming the loan; applicable.
reported if there is a co-transferee. Transfer of ownership........ Suffix of co- Suffix (Jr., Sr., transferee, if III, etc.), if any, applicable.
of second individual assuming loan; reported if there is a co-transferee. Transfer of ownership........ Social security Social security number of co- number of second transferee, if individual assuming applicable.
loan; reported if there is a co- transferee. Release of liability......... Date of release.. Month, day, and year on which the former obligor is no longer responsible for the loan. Unauthorized transfer of Date servicer Month, day, and year ownership.
discovers
servicer discovers unauthorized that a transfer of transfer.
ownership occurred without prior approval by VA and/ or servicer. SCRA relief filed............ Date SCRA relief Month, day, and year requested.
assistance under the SCRA was requested (explicit request or discovery of eligibility during servicing). SCRA relief filed............ Effective date of Month, day, and year SCRA relief (can that the veteran be prior to
became eligible for request date). assistance under the SCRA. SCRA relief filed............ Expected SCRA Month, day, and year relief end date. the relief is expected to end pursuant to the requirements of the Act. Partial release of security.. Date partial Month, day, and year release of
that the security security
document releasing a document was portion of the executed.
secured property is executed. Partial release of security.. Amount of the Amount that is proceeds from applied to the the partial
outstanding loan release of
balance from the security that partial release of are applied to security; if the the outstanding loan to value ratio loan balance. is greater than or equal to 80 percent, the servicer must apply sufficient proceeds from the release to the outstanding loan balance to bring LTV to less than 80 percent. Partial release of security.. Amount of
Amount offered for consideration the portion of the offered for the security being property.
released. Partial release of security.. Date applied to Month, day, and year principal.
that proceeds from the partial release of security are applied to the loan balance. Partial release of security.. Unpaid principal Loan balance that is balance after outstanding after application of application of proceeds.
proceeds from the partial release of security. Partial release of security.. Value of
Appraised value of remaining
the remaining security.
security after the release is completed. Insurable loss occurred...... Type of damage... Type of property damage that resulted in an insurance claim being filed. Insurable loss occurred...... Fire Damage...... Type of property damage that resulted in an insurance claim being filed is fire damage. Insurable loss occurred...... Neglect.......... Type of property damage that resulted in an insurance claim being filed is neglect. Insurable loss occurred...... Vandalized....... Type of property damage that resulted in an insurance claim being filed is property vandalism. Insurable loss occurred...... Freeze........... Type of property damage that resulted in an insurance claim being filed is the result of a freeze. Insurable loss occurred...... Storm............ Type of property damage that resulted in an insurance claim being filed is caused by a storm.
[[Page 68501]]
Insurable loss occurred...... Flood............ Type of property damage that resulted in an insurance claim being filed is flood damage. Insurable loss occurred...... Unknown.......... Type of property damage that resulted in an insurance claim being filed is unknown. Insurable loss occurred...... Hurricane........ Type of property damage that resulted in an insurance claim being filed is caused by a hurricane. Insurable loss occurred...... Hail............. Type of property damage that resulted in an insurance claim being filed is hail damage. Insurable loss occurred...... Tornado.......... Type of property damage that resulted in an insurance claim being filed is tornado damage. Insurable loss occurred...... Wind............. Type of property damage that resulted in an insurance claim being filed is wind damage. Insurable loss occurred...... Mud/Landslide.... Type of property damage that resulted in an insurance claim being filed is mud or landslide damage. Insurable loss occurred...... Earthquake....... Type of property damage that resulted in an insurance claim being filed is earthquake damage. Insurable loss occurred...... Boiler Explosion. Type of property damage that resulted in an insurance claim being filed was caused by a boiler explosion. Insurable loss occurred...... Untypical Damage. Type of property damage that resulted in an insurance claim being filed is other than the typical specified reasons. Insurable loss occurred...... Date damage
Month, day, and year discovered.
the damage is discovered by the servicer. Insurable loss occurred...... Date insurance Month, day, and year claim filed. that the insurance claim for damage is filed, either by the borrower or the servicer. Insurable loss occurred...... Total loss (Y/N). Decision made by the insurance company as to whether or not the property can be repaired. Servicing transfer
Servicing release Month, day, and year (transferring servicer).
date.
that a servicer transfers responsibility for servicing a guaranteed loan to another servicer. Servicing transfer
Name of new
Name of servicer (transferring servicer).
servicer.
receiving responsibility for servicing a guaranteed loan. Servicing transfer (receiving Date loan
Month, day, and year servicer).
acquired.
on which a servicer became responsible for servicing a guaranteed loan. Servicing transfer (receiving Previous servicer Loan number servicer).
loan number. associated with the loan on the previous servicer's system. Electronic default
Date of first Month, day, and year notification.
payment on the of the first original loan. scheduled payment on the loan (per the loan instruments). Electronic default
Payment due date. Month, day, and year notification.
of the earliest payment not fully satisfied by the proper application of available credits or deposits. Electronic default
Property address The first line of the notification.
line 1.
expanded property address. Electronic default
Property address The second line of notification.
line 2.
the expanded property address. Electronic default
Property address The unit number of notification.
unit number. the expanded property address. Electronic default
Property address The city name of the notification.
city.
expanded property address. Electronic default
Property address A group of fields notification.
zip code.
containing the zip code. Electronic default
Property address The zip code suffix notification.
suffix.
of the expanded property address. Electronic default
Property address The state notification.
state
abbreviation of the abbreviation. expanded property address. Electronic default
Last name of Surname of the notification.
current owner, individual who if applicable. currently owns the property; if owner is an individual and not an entity. Electronic default
First name of First name of the notification.
current owner, individual who if applicable. currently owns the property. Electronic default
Middle initial of First letter of the notification.
current owner, middle name, if any, if applicable. of the individual who currently owns the property; if owner is an individual and not an entity. Electronic default
Suffix of current Suffix (Jr., Sr., notification.
owner, if
III, etc.), if any, applicable.
of the individual who currently owns the property; if owner is an individual and not an entity. Electronic default
Social security Unique SSA-issued notification.
number of
number assigned to current owner; the individual who if current owner currently owns the is an individual. property; if owner is an individual and not an entity. Electronic default
Last name of Surname of the notification.
current co-
individual who owner, if
currently co-owns applicable.
the property, if applicable. Electronic default
First name of First name of the notification.
current co-
individual who owner, if
currently co-owns applicable.
the property, if applicable. Electronic default
Middle initial of First letter of the notification.
current co-
middle name, if any, owner, if
of the individual applicable.
who currently co- owns the property, if applicable. Electronic default
Suffix of current Suffix (Jr., Sr., notification.
co-owner, if III, etc.), if any, applicable.
of the individual who currently co- owns the property, if applicable. Electronic default
Social security Unique SSA-issued notification.
number of
number assigned to current co-
the individual who owner; if
currently co-owns applicable.
the property, if applicable. Electronic default
Name of entity Name of entity that notification.
that is current currently owns the owner, if
property, if owner applicable.
is an entity and not an individual. Electronic default
Taxpayer
Unique IRS-issued notification.
identification number assigned to number, if
the entity who current owner is currently owns the an entity.
property, if owner is an entity and not an individual. Electronic default
Mailing address First line of the notification.
line 1 (if
mailing address of different from current owners. property address).
[[Page 68502]]
Electronic default
Mailing address Second line of the notification.
line 2 (if
mailing address of different from current owners. property address). Electronic default
Mailing address The zip code suffix notification.
suffix (if
of the mailing different from address. property address). Electronic default
Mailing address The unit number of notification.
unit number (if the expanded mailing different from address. property address). Electronic default
Mailing address The city name of the notification.
city (if
expanded mailing different from address. property address). Electronic default
Mailing address A group of fields notification.
zip code (if containing the zip different from code +4 of the property
expanded mailing address).
address. Electronic default
Mailing address The state notification.
state
abbreviation of the abbreviation (if expanded mailing different from address. property address). Electronic default
Interest rate on Rate of interest notification.
loan.
charged on the loan, expressed as a percentage, per the loan instruments. Electronic default
Unpaid principal Present portion of notification.
balance.
the loan not yet repaid, exclusive of interest or other charges. Electronic default
Principal and Amount of principal notification.
interest (P&I) and interest due portion of
monthly under the monthly
terms of the loan installment. agreement. Electronic default
Taxes and
Amount of the tax and notification.
insurance (T&I) insurance deposit portion of
due monthly under monthly
the terms of the installment. loan agreement and determined by the servicer in accordance with Real Estate Settlement Procedures Act (RESPA). Electronic default
Other portion of Amount due monthly notification.
monthly
that does not installment. pertain to principal and interest, taxes and insurance or late charges due under the terms of the obligation as of notice date (e.g., Homeowner Association (HOA) fees). Electronic default
Late charges due. Amount due as a notification.
result of penalties imposed by the servicer that a borrower must pay when a payment is missed or made after the due date under the terms of the obligation as of notice date. Electronic default
Occupant of
Status of who notification.
property.
currently resides in the property securing the loan obligation, or reason why no one resides there. Electronic default
Original veteran. Individual who signed notification.
the loan documents and originated the loan. Electronic default
Tenant........... Individual who rents notification.
or leases the property securing the loan obligation. Electronic default
Transferee....... Individual who notification.
purchased the property and may have assumed the loan. Electronic default
Vacant........... Property is not notification.
occupied by anyone but appears to be maintained and is secure. Electronic default
Abandoned........ Property is vacant, notification.
is not being maintained, is not offered for sale or rent, and there has been no contact with the current owner. Electronic default
First phone
First phone number notification.
number (obligor (obligor 1). 1). Electronic default
Phone number type Phone number type for notification.
for first phone first phone number number (obligor (obligor 1). 1). Electronic default
Home............. Home. notification. Electronic default
Work............. Work. notification. Electronic default
Cell............. Cell. notification. Electronic default
Second phone Second phone number notification.
number (obligor (obligor 1). 1). Electronic default
Phone number type Phone number type for notification.
for second phone second phone number number (obligor (obligor 1). 1). Electronic default
Home............. Home. notification. Electronic default
Work............. Work. notification. Electronic default
Cell............. Cell. notification. Electronic default
Phone number Phone number (obligor notification.
(obligor 2). 2). Electronic default
Phone number type Phone number type notification.
(obligor 2). (obligor 2). Electronic default
Home............. Home. notification. Electronic default
Work............. Work. notification. Electronic default
Cell............. Cell. notification. Electronic default
Phone number 1 Phone number 1 (other notification.
(other
authorized party). authorized party). Electronic default
Primary reason Reason obligor is notification.
for default
unable to or did not (servicer may remit monthly report only one). payments. Electronic default
Business failure. Reason for default is notification.
the occupation, work, or trade in which obligor is engaged did not generate enough funds for obligor to meet his financial obligations. Electronic default
Casualty loss.... Reason for default is notification.
the damage to the property as a result of a fire, storm, accident, flood, earthquake, or other catastrophic event. Electronic default
Curtailment of Reason for default is notification.
income.
a reduction or the curtailment of obligor's income from employment, investment, or other sources. Electronic default
Death of borrower Reason for default is notification.
that the obligor died. Electronic default
Death of
Reason for default is notification.
borrower's
the death of family member. obligor's relative who was contributing towards the loan (directly or indirectly) and/or that obligor has incurred extraordinary expenses as a result of such death.
[[Page 68503]]
Electronic default
Distant
Reason for default is notification.
employment
the result of the transfer.
borrower being transferred or relocated to a distant job location. Electronic default
Energy/
Reason for default is notification.
environmental the result of the cost.
borrower incurring excessive energy related costs or costs associated with removal of an environmental hazard in or near the property. Electronic default
Excessive
Reason for default is notification.
obligations. obligor(s) incurred excessive debt in addition to the mortgage obligation or the mortgage payment has increased significantly. Electronic default
Fraud............ Reason for default is notification.
a legal dispute arising out of a fraudulent or illegal action that occurred in connection with the origination of the mortgage or at a later date. Electronic default
Illness of
Reason for default is notification.
borrower.
a serious illness that keeps the borrower from working and generating income, and/or the borrower has incurred extraordinary expenses as a result of the illness. Electronic default
Illness of
Reason for default is notification.
borrower's
the result of family.
obligor(s) incurring extraordinary expenses as the result of the illness of a family member. Electronic default
Inability to rent Reason for default is notification.
property.
obligor has insufficient income and/or assets to make the monthly mortgage payment and the rental property is vacant. Electronic default
Inability to sell Reason for default is notification.
property.
obligor has insufficient income and/or assets to make the monthly mortgage payment and is unable to sell the property. Electronic default
Incarceration.... Reason for default is notification.
the result of obligor being jailed or imprisoned, regardless of whether obligor is still incarcerated. Electronic default
Marital
Reason for default is notification.
difficulties. problems associated with separation or divorce including dispute over payments during divorce settlement, reduction in income available to pay the mortgage debt, etc. Electronic default
Military service. Reason for default is notification.
the result of obligor being called into active duty status and the military pay is insufficient to make the monthly mortgage payment. Electronic default
Payment
Reason for default is notification.
adjustment.
the result of the borrower being unable to make new payments that resulted from an increase in the monthly payment. Electronic default
Payment dispute.. Reason for default is notification.
the result of a disagreement between obligor and the mortgage servicer about the amount of the mortgage payment, the acceptance of a partial payment, the application of previous payments, etc., that result in obligor refusing to make payments until the dispute is resolved. Electronic default
Property problems Reason for default is notification.
the result of the condition of the property such as substandard construction, expensive and extensive repairs required, etc. Electronic default
Servicing
Reason for default is notification.
problems.
the result of obligor being dissatisfied with the servicer of the loan or with the fact that servicing has been transferred to a new servicer. Electronic default
Tenant not paying Reason for default is notification.
the result of the obligor's tenant not paying rent. Electronic default
Transfer of
Reason for default is notification.
ownership.
the result of the obligor not making payments while sale of the property is pending. Electronic default
Unemployment Reason for default is notification.
notification. the result of a reduction in obligor's income due to loss of job. Electronic default
Borrower never Reason for default is notification.
responded to unknown (unable to outreach.
get contact or unable to determine the reason). Delinquency status........... Unpaid principal Amount of principal balance (UPB). due under the terms of the obligation as of payment due date. Delinquency status........... Payment due date. Month, day, and year of the earliest payment not fully satisfied by the proper application of available credits or deposits. Delinquency status........... Principal and Amount of principal interest (P&I) and interest due portion of
monthly under the monthly
terms of the loan installment, if agreement, if changed.
changed from last report. Delinquency status........... Taxes and
Amount of taxes and insurance (T&I) insurance due portion of
monthly under the monthly
terms of the loan installment, if agreement, if changed.
changed from last report. Delinquency status........... Other portion of Amount due that does monthly
not pertain to installment, if principal and changed.
interest and/or taxes and insurance, due under the terms of the obligation (example is HOA fees), if changed from last report. Delinquency status........... Late charges due. Amount due as a result of penalties imposed by the servicer that a borrower must pay when a payment is missed or made after the due date under the terms of the obligation as of notice date. Delinquency status........... Expenses incurred Any costs that have to date.
been paid by the servicer and can be charged to the loan. Contact information change... Updated mailing First line of the address line 1 mailing address of (if different current owners, if from property changed from last address).
report.
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Contact information change... Updated mailing Second line of the address line 2 mailing address of (if different current owners, if from property changed from last address).
report. Contact information change... Updated mailing The unit number of address unit the expanded mailing number (if
address, if changed different from from last report. property address). Contact information change... Updated mailing The city name of the address city (if expanded mailing different from address, if changed property
from last report. address). Contact information change... Updated mailing A group of fields address zip code containing the zip (if different code of the expanded from property mailing address, if address).
changed from last report. Contact information change... Updated mailing The zip code suffix address suffix of the mailing (if different address, if changed from property from last report. address). Contact information change... Updated mailing The state address state abbreviation of the abbreviation (if expanded mailing different from address, if changed property
from last report. address). Contact information change... Updated first First phone number phone number (obligor 1). (obligor 1). Contact information change... Updated phone Phone number type for number type for first phone number first phone
(obligor 1). number (obligor 1). Contact information change... Home............. Home. Contact information change... Work............. Work. Contact information change... Cell............. Cell. Contact information change... Updated second Second phone number phone number (obligor 1). (obligor 1). Contact information change... Updated phone Phone number type for number type for second phone number second phone (obligor 1). number (obligor 1). Contact information change... Home............. Home. Contact information change... Work............. Work. Contact information change... Cell............. Cell. Contact information change... Updated phone Phone number (obligor number (obligor 2). 2). Contact information change... Updated phone Phone number type number type
(obligor 2). (obligor 2). Contact information change... Home............. Home. Contact information change... Work............. Work. Contact information change... Cell............. Cell. Contact information change... Updated phone Phone number 1 (other number 1 (other authorized party). authorized party). Occupancy status change...... Date the change Month, day, and year in occupancy that occupancy status is
status change was discovered by discovered by the servicer.
servicer. Occupancy status change...... Occupancy status. Status of who currently resides in the property securing the loan obligation, or reason why no one resides there. Occupancy status change...... Original veteran. Original veteran currently resides in the property securing the loan obligation. Occupancy status change...... Tenant........... Individual rents or leases the property securing the loan obligation. Occupancy status change...... Transferee....... A conveyance was made and an individual/ entity currently resides in the property securing the loan obligation. Occupancy status change...... Vacant........... Property is not occupied by anyone but appears to be maintained and is secure. Occupancy status change...... Abandoned........ Property is vacant, is not being maintained, and is not offered for sale or rent. Bankruptcy filed............. Date bankruptcy Month, day, and year filed.
that obligor filed for protection under U.S. bankruptcy codes. Bankruptcy filed............. Type of
Type of bankruptcy bankruptcy.
(chapter number) under which the obligor filed for protection. Bankruptcy filed............. Chapter 7........ Chapter of the U.S. bankruptcy code providing for the sale of an obligor's nonexempt property and assets and the distribution of the proceeds to creditors. Bankruptcy filed............. Chapter 11....... Chapter of the U.S. bankruptcy code providing obligor or obligor's failing firm protection against all creditors while being reorganized to pay off debts. Bankruptcy filed............. Chapter 12....... Chapter of the U.S. bankruptcy code designed to give special relief to obligor if obligor is a family farmer with seasonal income. Bankruptcy filed............. Chapter 13....... Chapter of the U.S. bankruptcy code allowing obligor to begin debt repayment without forfeiting property. Bankruptcy filed............. Bankruptcy case Case number assigned number.
by the bankruptcy court. Bankruptcy filed............. Bankruptcy code.. Indicates whether the mortgagor, co- mortgagor, or both are filing bankruptcy. Bankruptcy filed............. Only the obligor Indicates that only has filed.
the obligor has filed for bankruptcy. Bankruptcy filed............. Only the co- Indicates that only obligor has
the co-obligor has filed.
filed for bankruptcy. Bankruptcy filed............. Both the obligor Indicates that both and co-obligor obligor and co- have filed.
obligor have filed for bankruptcy
[[Page 68505]]
Bankruptcy filed............. Name(s) of
Name of obligor(s) debtor(s)-report that filed petition all applicable. for relief under the U.S. bankruptcy code- report all applicable. Bankruptcy filed............. Alternate debtor. This field indicates the second alternate debtor (if any) for the loan. Bankruptcy filed............. Social security Unique SSA-issued number (SSN)(s) number or unique IRS- of debtor(s). issued number (TIN) of the obligor(s) that filed a petition for relief under the U.S. bankruptcy code. Bankruptcy filed............. Alternate debtor This field indicates social security the second alternate number (SSN). debtor social security number (if any) for the loan. Bankruptcy update............ Bankruptcy event. Any significant action taken during the bankruptcy process as defined in the eight following items. Bankruptcy update............ Date relief of Date a petition was stay filed.
filed by servicer requesting relief from the stay so that servicer may proceed to terminate the loan. Bankruptcy update............ Date of discharge Date of the court order terminating bankruptcy proceedings, usually relieving the obligor of his/her obligation. Bankruptcy update............ Date of dismissal Date of the court order terminating the case without either the entry of a discharge or a denial of discharge. Bankruptcy update............ Date stay lifted. Date of the court order permitting collection/ termination actions against the obligor and/or the property that secures the loan. Loss mitigation letter sent.. Date that the Month, day, and year letter was sent. loss mitigation (foreclosure avoidance) notice sent by the servicer. Partial payment returned..... Reason why the VA-authorized reason partial payment for the return of a was returned. payment of any amount less than the full amount due under the loan terms. Partial payment returned..... Tenant payments Property is not being
completely or forwarded.
partially tenant- occupied and rental payments are not being paid to servicer for application to the loan account. Partial payment returned..... Less than 50 Payment is less than percent of total 50 percent of the due and no
total amount then repayment plan due, and the amount is in place. has not been agreed to in a documented repayment plan. Partial payment returned..... Personal checks Amount tendered is in not accepted. the form of a personal check and the borrower has been previously notified in writing that only cash or certified payments are acceptable. Partial payment returned..... Foreclosure
Foreclosure has been process started. started with the first action required for foreclosure under local law. Partial payment returned..... Less than one Payment is less than monthly
one full monthly installment and installment, no repayment including escrow and plan in place. late charges, and the amount has not been agreed to in a documented repayment plan. Partial payment returned..... Less than
Payment is less than repayment plan the amount agreed to agreed amount. in a documented repayment plan. Partial payment returned..... Unpaid
Delinquency of any delinquency over amount has continued six months and for at least 6 no repayment months since the plan in place. account first became delinquent and no documented repayment plan has been arranged. Partial payment returned..... Servicer lien Holder's lien would be
position would be jeopardized. jeopardized by acceptance of partial payment. Partial payment returned..... Date partial Month, day, and year payment returned. that servicer returned the partial payment. Partial payment returned..... Amount of partial Amount of partial payment returned. payment that servicer returned. Default cured/loan reinstated Date loan
Month, day, and year reinstated.
all delinquent amounts were fully repaid; a loan is current if the payment due date is the first day of the next month (as of the last day of the previous month). Cure/reinstatement reversal.. Date of reversal. Month, day, and year the servicer discovered that a previously reported cure was in error. Cure/reinstatement reversal.. Payment due date. Month, day, and year the last full monthly obligation was applied; as of the date of the cure reversal. Cure/reinstatement reversal.. Reason for
Basis for reversal.
determination that all delinquent amounts thought to be fully repaid were not. Cure/reinstatement reversal.. NSF check........ Reason for reversal of cured default is that obligor's bank account has insufficient funds available to pay the check. Cure/reinstatement reversal.. Misapplication of Reason for reversal funds.
of cured default is that funds were applied to the loan in error. Cure/reinstatement reversal.. Reporting error Reason for reversal (includes
of cured default is erroneously
that the servicer reported
reported the cure in servicing
error. transferred). Default reported to credit Date reported.... Month, day, and year bureau.
that servicer reports to the credit bureau that obligor has failed to comply with the terms of the loan agreement. Extenuating property
Date the
The date the property circumstances.
extenuating
damage was property
discovered. circumstance was discovered. Extenuating property
Type of unusual Basis for circumstances.
property
determination that circumstance. foreclosure process should be sped up or delayed due to the condition of obligor's property. Extenuating property
Hazardous
Reason for circumstances.
conditions or extenuating property materials.
circumstances is the presence of conditions or materials on the property which create an immediate or potential danger to the public health or safety or to the environment.
[[Page 68506]]
Extenuating property
Significant
Reason for circumstances.
property
extenuating property deterioration. circumstances is property has deteriorated significantly. Extenuating property
Condemned........ Reason for circumstances.
extenuating property circumstances is property is deemed legally unfit for occupancy or continued existence due to its physical defects or for other causes or the property is being acquired by a governmental body for public uses as per receipt of official notice from the appropriate local government office. Extenuating property
Natural disaster. Reason for circumstances.
extenuating property circumstances is the result of a natural disaster, such as fire, storm, accident, flood, earthquake, or other catastrophic event. Extenuating property
Property seizure. Law enforcement circumstances.
officials have taken a property that has been used (a) in connection with or acquired by illegal activities or (b) in satisfaction of an unpaid judgment. Extenuating property
Demolished....... Reason for circumstances.
extenuating property circumstances is property has been razed. Extenuating property
Other............ Reason for circumstances.
extenuating property circumstances is other than one of the reasons listed. Repayment plan approved...... Date repayment Month, day, and year plan approved. servicer approved written agreement with the obligor for reinstatement of the loan through a schedule of increased payments. Repayment plan approved...... Plan start date Month and year that (month and year). repayment plan is documented to begin. Repayment plan approved....... Estimated cure Estimated month, day, date.
and year the delinquency will be fully satisfied by the proper application of available credits or deposits resulting from the repay plan. Repayment plan infeasible.... Date of
Month, day, and year determination. that servicer determines that a repay plan with the obligor is not a home retention option. Repayment plan infeasible.... Reason for
Basis for infeasibility. determination that repay plan with the obligor is not a home retention option. Repayment plan infeasible.... Unwilling
Reason for borrower(s). infeasibility of the repay plan is that obligor does not agree to a repay plan. Repayment plan infeasible.... Unable to contact Reason for infeasibility of the repay plan is that servicer is not able to contact obligor to negotiate. Repayment plan infeasible.... Current owner not Reason for liable.
infeasibility of the repay plan is current owner of the property is not the obligor on the loan. Repayment plan infeasible.... Property
Reason for abandoned.
infeasibility of the repay plan is the property is vacant, is not being maintained, is not offered for sale or rent, and no contact with the borrower has been established. Repayment plan infeasible.... Insufficient Reason for income.
infeasibility of the repay plan is that obligor does not have enough income to meet the obligations under a repay plan. Special forbearance approved. Estimated cure Estimated month, day, date.
and year the delinquency will be fully satisfied by the proper application of available credits or deposits resulting from the proposed special forbearance. Special forbearance
Date of
Month, day, and year infeasible.
determination. that servicer determines that neither suspension nor reduction of obligor's payments for one or more months is a home retention option. Special forbearance
Reason for
Basis for infeasible.
infeasibility. determination that special forbearance with the obligor is not a home retention option. Special forbearance
Unwilling
Reason for infeasible.
borrower.
infeasibility of the special forbearance is that obligor does not agree to special forbearance. Special forbearance
Unable to contact Reason for infeasible.
infeasibility of the special forbearance is that servicer is not able to contact obligor to negotiate. Special forbearance
Insufficient Reason for infeasible.
income.
infeasibility of the special forbearance is that obligor does not have enough income to meet the obligations under a special forbearance. Special forbearance
Current owner not Reason for infeasible.
liable.
infeasibility of the special forbearance is current owner of the property is not the obligor on the loan. Special forbearance
Property
Reason for infeasible.
abandoned.
infeasibility of the special forbearance is the property is vacant, is not being maintained, is not offered for sale or rent, and no contact with the homeowner has been established. Special forbearance
No means to
Reason for infeasible.
reinstate.
infeasibility of the special forbearance is that reducing payments and/or forbearing payments will have no impact on the obligor's inability to cure the delinquency and reinstate the loan. Loan modification approved... Date modification Month, day, and year of loan approved. that servicer approves a permanent change in one or more of the terms of the loan and usually includes re- amortization of the balance due. Loan modification complete... Date loan
Month, day, and year modification that servicer and fully executed. borrower execute the modification agreement thereby completing a permanent change in one or more of the terms of the loan that results in loan reinstatement.
[[Page 68507]]
Loan modification complete... Modified loan Total amount of amount.
principal owed on the mortgage after the loan modification and before any payments are made; only unpaid principal, accrued interest, deficits in the taxes and insurance impound accounts, and advances required to preserve the lien position, such as HOA fees, special assessments, water and sewer liens, etc., may be included in the modified indebtedness; late fees and other charges may not be capitalized. Loan modification complete... Term............. Number of months over which the unpaid balance of the modified loan will be repaid. Loan modification complete... Modified loan Month, day, and year maturity date. that modified loan will be paid in full. Loan modification complete... Interest rate.... Rate of interest charged on the loan, expressed as a percentage, per the modified loan instruments. Loan modification complete... Date of first Month, day, and year payment.
that first installment on modified loan is due. Loan modification complete... New principal and Monthly amount due interest (P&I) (for principal and payment.
interest) on the modified loan. Loan modification infeasible. Date of
Month, day, and year determination. that servicer determines that loan modification is not a home retention option. Loan modification infeasible. Reason for
Basis for infeasibility. determination that loan modification with the obligor is not a home retention option. Loan modification infeasible. Unwilling
Reason for borrower.
infeasibility of the loan modification is that obligor does not agree to a loan modification. Loan modification infeasible. Unable to contact Reason for infeasibility of the loan modification is that servicer is not able to contact obligor to negotiate. Loan modification infeasible. Insufficient Reason for income.
infeasibility of the loan modification is that obligor does not have enough income to meet the obligations under a loan modification. Loan modification infeasible. Insufficient Reason for borrower
infeasibility of the contribution. loan modification is that obligor has insufficient cash to satisfy all delinquent amounts not included in the new loan amount. Loan modification infeasible. Junior lien
Reason for issues.
infeasibility of the loan modification is that junior lien holder refuses to subordinate. Loan modification infeasible. Ineligible-prior Reason for approval denied. infeasibility of the loan modification is that VA denied a prior approval of a non-conforming loan modification. Loan modification infeasible. Ineligible-not Reason for submitted for infeasibility of the prior approval. loan modification is that the servicer did not submit a non- conforming loan modification for prior approval. Loan modification infeasible. Current owner not Reason for liable.
infeasibility of the loan modification is that the current owner is not legally liable on the loan. Loan modification infeasible. Ginnie Mae
Reason for pooling issues. infeasibility of the loan modification is that the servicer is unwilling to bear the cost of repurchasing the loan from the pool and/or repooling. Loan modification infeasible. Property
Reason for abandoned.
infeasibility of the loan modification is the property is vacant, is not being maintained, and is not offered for sale or rent. Loan modification infeasible. Not owner
Reason for occupied.
infeasibility of the loan modification is that the owner does not currently reside in the property. Compromise sale approved..... Date purchase Month, day, and year offer submitted that obligor submits by borrower for a purchase offer to consideration. the servicer for consideration where the proceeds of the private sale will be less than the amount required to pay the mortgage in full. Compromise sale approved..... Date compromise Month, day, and year sale approved. that servicer approves obligor's request to complete a private sale where the proceeds will be less than the amount required to pay the mortgage in full. Compromise sale approved..... Estimated
Estimated month, day, settlement date. and year that obligor's property is scheduled to close by private sale and the proceeds will be less than the amount required to pay the mortgage in full. Compromise sale complete..... Actual settlement Actual month, day, date.
and year that obligor's property was sold to a third party in a private sale and the proceeds were less than the amount required to pay the mortgage in full. Compromise sale complete..... Payoff of first Net proceeds from the mortgage loan sale, listed in line (line 504 from 504 from HUD-1 form HUD-1).
(also known as the ``closing statement'' or ``settlement sheet''), which will be applied toward the payoff of the first mortgage loan. Compromise sale infeasible... Date of
Month, day, and year determination. that servicer determines that the compromise sale is not an alternative to foreclosure. Compromise sale infeasible... Reason for
Basis for infeasibility. determination that compromise sale is not an alternative to foreclosure. Compromise sale infeasible... No buyers........ Reason for infeasibility of the compromise sale is that there are no buyers interested in the obligor's property. Compromise sale infeasible... Closing not
Reason for consummated. infeasibility of the compromise sale is that a potential sale did not legally close. Compromise sale infeasible... Unwilling
Reason for borrower(s). infeasibility of the compromise sale is that obligor does not agree to a compromise sale. Compromise sale infeasible... Property
Reason for abandoned.
infeasibility of the compromise sale is the property is vacant, is not being maintained, is not offered for sale or rent, and no contact with the homeowner has been established.
[[Page 68508]]
Compromise sale infeasible... Unable to contact Reason for infeasibility of the compromise sale is that servicer is not able to contact obligor to negotiate. Compromise sale infeasible... Junior lien
Reason for issues.
infeasibility of the compromise sale is that junior lien holder is unwilling to participate in the compromise sale. Compromise sale infeasible... Title problems... Reason for infeasibility of the compromise sale is that the owner is unable to provide clear title to the prospective purchaser. Deed-in-lieu approved........ Date DIL was Month, day, and year requested.
that the obligor requests a voluntary transfer of the property to the holder in exchange for a release of all obligations under the mortgage. Deed-in-lieu approved........ Date of approval. Month, day, and year that a deed in lieu of foreclosure is approved by the servicer. Deed-in-lieu complete........ Date that deed Month, day, and year was recorded. that the deed in lieu of foreclosure was recorded with the local government office. Deed-in-lieu complete........ Net value........ The fair market value of the property minus the VA cost factor (net value = fair market value of the property * (1- the net value factor)). Deed-in-lieu complete........ Total eligible The unpaid principal indebtedness. balance, accrued unpaid interest, allowable advances, liquidation expenses, and property preservation expenses (if incurred prior to the actual foreclosure sale date or the end of the foreclosure timeframe, whichever is earlier), less any credits. Deed-in-lieu infeasible...... Date of
Month, day, and year determination. that servicer determines that the deed in lieu of foreclosure is not an alternative to foreclosure. Deed-in-lieu infeasible...... Reason for
Basis for infeasibility. determination that deed in lieu of foreclosure is not an alternative to foreclosure. Deed-in-lieu infeasible...... Junior lien(s)... Reason for infeasibility of the deed in lieu of foreclosure is that there is a junior lien on the property. Deed-in-lieu infeasible...... Title problems... Reason for infeasibility of the deed in lieu of foreclosure is that the owner is unable to transfer clear title. Deed-in-lieu infeasible...... Unwilling
Reason for borrower(s). infeasibility of the deed in lieu of foreclosure is that one or more of the owners do not agree to a deed in lieu of foreclosure. Deed-in-lieu infeasible...... Property
Reason for abandoned.
infeasibility of the deed in lieu of foreclosure is the property is vacant, is not being maintained, is not offered for sale or rent, and contact with the homeowner has not been established. Deed-in-lieu infeasible...... Unable to contact Reason for infeasibility of the deed in lieu of foreclosure is that servicer is not able to contact obligor to negotiate. Foreclosure referral......... Date of referral Month, day, and year to attorney. servicer refers obligor's loan to legal counsel to initiate the foreclosure process. Foreclosure referral......... Date of most Month, day, and year recent property of the most recently inspection.
performed property inspection for the current default. Foreclosure referral......... Date 30 day
Month, day, and year delinquency
that servicer sent letter sent (if 30 day delinquency no successful letter (letter to phone contact). the borrower if payment has not been received within 30 days after it was due and telephone contact could not be made--38CFR 36.4346(g)). Foreclosure referral......... Date phone
Month, day, and year contact
that servicer successful.
successfully contacted obligor via telephone for the current default (``right party'' contact). Foreclosure referral......... Updated reason Basis for for default at determination that time of
foreclosure process foreclosure. should be initiated. Foreclosure referral......... Business failure. Reason for default is the occupation, work, or trade in which obligor is engaged did not generate enough funds to meet his financial obligations. Foreclosure referral......... Casualty loss.... Reason for default is the damage to the property as a result of a fire, storm, accident, flood, earthquake, or other catastrophic event. Foreclosure referral......... Curtailment of Reason for default is income.
a reduction or the curtailment of obligor's income from employment, investment, or other sources. Foreclosure referral......... Death of borrower Reason for default is that the obligor died. Foreclosure referral......... Death of
Reason for default is borrower's
the death of family member. obligor's relative who is contributing towards the loan (directly or indirectly) and/or that obligor has incurred extraordinary expenses as a result of such death. Foreclosure referral......... Distant
Reason for default is employment
the result of the transfer.
borrower being transferred or relocated to a distant job location. Foreclosure referral......... Energy/
Reason for default is environmental the result of the cost.
borrower incurring excessive energy related costs or costs associated with removal of an environmental hazard in or near the property. Foreclosure referral......... Excessive
Reason for default is obligations. obligor incurred excessive debt in addition to the mortgage obligation or the mortgage payment has increased significantly. Foreclosure referral......... Fraud............ Reason for default is a legal dispute arising out of a fraudulent or illegal action that occurred in connection with the origination of the mortgage or at a later date. Foreclosure referral......... Illness of
Reason for default is borrower.
a serious illness that keeps the borrower from working and generating income, and/or the borrower has incurred extraordinary expenses as a result of the illness.
[[Page 68509]]
Foreclosure referral......... Illness of
Reason for default is borrower's
the result of family.
obligor incurring extraordinary expenses as the result of the illness of a family member. Foreclosure referral......... Inability to rent Reason for default is property.
obligor has insufficient income and/or assets to make the monthly mortgage payment and the rental property is vacant. Foreclosure referral......... Inability to sell Reason for default is property.
obligor has insufficient income and/or assets to make the monthly mortgage payment and is unable to sell the property. Foreclosure referral......... Incarceration.... Reason for default is the result of obligor being jailed or imprisoned, regardless of whether obligor is still incarcerated. Foreclosure referral......... Marital
Reason for default is difficulties. problems associated with separation or divorce including dispute over payments during divorce settlement, reduction in income available to pay the mortgage debt, etc. Foreclosure referral......... Military service. Reason for default is the result of obligor being called into active duty status and the military pay is insufficient to make the monthly mortgage payment. Foreclosure referral......... Payment
Reason for default is adjustment.
the result of the borrower being unable to make new payments that resulted from an increase in the monthly payment. Foreclosure referral......... Payment dispute.. Reason for default is that a disagreement between obligor and the mortgage servicer about the amount of the mortgage payment, the acceptance of a partial payment, the application of previous payments, etc. resulted in obligor refusing to make payments until the dispute is resolved. Foreclosure referral......... Property problems Reason for default is the result of the condition of the property such as substandard construction, expensive and extensive repairs required, etc. Foreclosure referral......... Servicing
Reason for default is problems.
the result of obligor being dissatisfied with the servicer of the loan or with the fact that servicing has been transferred to a new servicer. Foreclosure referral......... Tenant not paying Reason for default is the result of the obligor's tenant not paying rent. Foreclosure referral......... Transfer of
Reason for default is ownership.
the result of the obligor not making payments while sale of the property is pending. Foreclosure referral......... Unemployment Reason for default is notification. the result of a reduction in obligor's income due to loss of job. Foreclosure referral......... Borrower never Reason for default is responded to unknown (unable to outreach.
get contact or unable to determine the reason). Foreclosure sale scheduled... Date of scheduled Month, day, and year foreclosure sale. the property will be sold to satisfy the loan obligation (or month, day, and year it is anticipated the property will be sold to satisfy the loan obligation for states such as South Dakota). Foreclosure sale scheduled... Foreclosure type. Type of legal process by which the property is sold to satisfy the loan obligation. Foreclosure sale scheduled.... Judicial......... Type of foreclosure process done through court action. Foreclosure sale scheduled... Non-judicial..... Type of foreclosure process done through the power of sale. Substantial equity case...... Total eligible The unpaid principal indebtedness. balance, accrued unpaid interest, allowable advances, liquidation expenses, and property preservation expenses (if incurred prior to the actual foreclosure sale date or the end of the foreclosure timeframe, whichever is earlier), less any credits. Substantial equity case...... Estimated unpaid The unpaid balance of principal
any outstanding balance of all liens against the other liens. property. Substantial equity case...... Calculated equity The fair market value amount (fair of the property market value minus all monies less all liens). owed on other liens. Foreclosure sale postponed or Date postponed or Month, day, and year cancelled.
cancelled.
that foreclosure sale is postponed or cancelled. Foreclosure sale postponed or Postponed or Indicator denoting cancelled.
cancelled
whether the indicator.
foreclosure sale was postponed or whether it was cancelled. Foreclosure sale postponed or Reason........... Basis for cancelled.
postponement or cancellation of foreclosure sale. Foreclosure sale postponed or Reinstatement.... Reason for cancelled.
postponement or cancellation of foreclosure sale is to allow additional time for obligor to reinstate the loan. Foreclosure sale postponed or Bankruptcy....... Reason for cancelled.
postponement or cancellation of foreclosure sale is petition for relief was filed under U.S. bankruptcy codes by or on behalf of the obligor. Foreclosure sale postponed or Repayment plan... Reason for cancelled.
postponement or cancellation of foreclosure sale is servicer has an agreement with the obligor for reinstatement of the loan through a schedule of increased payments. Foreclosure sale postponed or Special
Reason for cancelled.
forbearance. postponement or cancellation of foreclosure sale is servicer has an agreement with the obligor to suspend foreclosure for a specified period of time to allow for loan reinstatement. Foreclosure sale postponed or Loan modification Reason for cancelled.
postponement or cancellation of foreclosure sale is servicer has modified or is considering modification of the loan that will result in loan reinstatement.
[[Page 68510]]
Foreclosure sale postponed or Private sale..... Reason for cancelled.
postponement or cancellation of foreclosure sale is to allow additional time for obligor to complete a sale of the property, in which there is equity. Foreclosure sale postponed or Compromise sale.. Reason for cancelled.
postponement or cancellation of foreclosure sale is to allow additional time to complete a sale of the property, even though the sale proceeds will be less than the total indebtedness. Foreclosure sale postponed or Title problems... Reason for cancelled.
postponement or cancellation of foreclosure sale is that title search disclosed problems which must be resolved prior to foreclosure. Foreclosure sale postponed or VA requested Reason for cancelled.
(includes refund postponement or consideration). cancellation of foreclosure sale is VA requested. Foreclosure sale postponed or Procedural errors Reason for cancelled.
(failure to give postponement or notice, legal cancellation of issues, failure foreclosure sale is to comply with procedural error, foreclosure
such as failure to laws, incorrect give notice, legal publication, issues, failure to trustee
comply with appointments, foreclosure laws, recording
incorrect issues).
publication, trustee appointments, recording issues, etc. Foreclosure sale postponed or Late appraisal... Reason for cancelled.
postponement or cancellation of foreclosure sale is that appraisal was not performed in time to proceed to foreclosure sale. Foreclosure sale postponed or Contested
Reason for cancelled.
foreclosure. postponement or cancellation of foreclosure sale is the obligor or other party contests the validity or priority of the mortgage or lien being foreclosed or creates an issue with respect to mortgage holder's right to foreclose it. Foreclosure sale postponed or Property damage.. Reason for cancelled.
postponement or cancellation of foreclosure sale is damage to the property occurred subsequent to completion of liquidation appraisal which could change or invalidate the bid amount. Foreclosure sale postponed or Hazardous
Reason for cancelled.
conditions or postponement or materials (when cancellation of a municipality foreclosure sale is requires
municipality property clean- requires property up prior to
clean-up of foreclosure). hazardous conditions and/or materials prior to foreclosure sale, or servicer discovers hazardous conditions and/or materials that will have an impact on final value determination. Foreclosure sale postponed or Condemned (with Reason for cancelled.
need to demolish postponement or or eminent
cancellation of domain) or
foreclosure sale is demolished.
property is (a) deemed legally unfit for occupancy or continued existence due to its physical defects or for other causes, (b) property is being acquired by a governmental body for public uses, or (c) property has already been torn down as a result of being condemned. Foreclosure sale postponed or Natural disaster. Reason for cancelled.
postponement or cancellation of foreclosure sale is result of a natural disaster, such as fire, storm, accident, flood, earthquake, or other catastrophic event. Foreclosure sale postponed or Property seizure. Reason for cancelled.
postponement or cancellation of foreclosure sale is the result of law enforcement officials taking the property that has been used in connection with or acquired by illegal activities or to satisfy an unpaid judgment. Foreclosure sale postponed or SCRA............. Reason for cancelled.
postponement or cancellation of foreclosure sale is obligor has filed for relief under or is deemed to be entitled to the (SCRA). Foreclosure sale postponed or Other............ Reason for cancelled.
postponement or cancellation of foreclosure sale is other than one of the reasons listed. Results of sale.............. Date of sale..... Month, day, and year the foreclosure sale was held. Results of sale.............. Sherriff's
Value of the property appraised value as determined by the (if applicable, court-ordered Kentucky, Ohio. sheriff's appraisal. Louisiana, and Oklahoma only). Results of sale.............. Successful bidder Designates whether the successful bidder was the holder or a third party. Results of sale.............. Holder........... The property was acquired by the holder of the loan. Results of sale.............. Third party...... The property was acquired by a third party. Results of sale.............. Amount of
The amount of money successful bid. bid to acquire the property. Results of sale.............. Net value........ The fair market value of the property minus the VA cost factor (net value = fair market value of the property * (1- the net value factor)). Results of sale.............. Total eligible The unpaid principal indebtedness. balance, accrued unpaid interest, allowable advances, liquidation expenses, and property preservation expenses (if incurred prior to the actual foreclosure sale date or the end of the foreclosure timeframe, whichever is earlier), less any credits. Transfer of custody.......... Insurance type Information about (flood,
insurance earthquake,
policy(ies) in force forced place, at the time of homeowner's, transfer of custody wind, fire)- to VA. report all applicable. Transfer of custody.......... Flood............ Reported insurance type is flood insurance. Transfer of custody.......... Earthquake....... Reported insurance type is earthquake insurance. Transfer of custody.......... Forced place..... Reported insurance type is forced place insurance. Transfer of custody.......... Homeowner's...... Reported insurance type is homeowner's insurance. Transfer of custody.......... Wind............. Reported insurance type is wind insurance. Transfer of custody.......... Fire............. Reported insurance type is fire insurance.
[[Page 68511]]
Transfer of custody.......... Policy number.... Unique insurance company issued number identifying the specific insurance coverage plan. Transfer of custody.......... Name of carrier.. Name of the company that provides the insurance coverage. Transfer of custody.......... Expiration date.. Month, day, and year that the insurance coverage terminates. Transfer of custody.......... Tax parcel/
Unique number identification assigned by the number(s)-report local taxing as many as are authority to applicable.
identify the property. Transfer of custody.......... Redemption
Month, day, and year expiration date on which the (if applicable). redemption period terminates. Transfer of custody........... Date of
Month, day, and year confirmation/ the foreclosure sale ratification of was confirmed or sale.
ratified (as required by State law). Transfer of custody.......... Mortgage holder's Unique VA-assigned payee vendor ID number used to (per internal VA identify the payee financial
for VA purposes; system).
servicer reports own vendor ID if servicer is payee. Transfer of custody.......... Payee loan number Unique payee-assigned (if payee
custody number used differs from to identify the servicer).
account. Improper transfer of custody. Reason for the Reason servicer improper
erroneously transfer of
transferred custody custody.
of a property to VA. Improper transfer of custody. Holder wanted to Holder intended to keep the
retain property but property.
conveyed to VA in error. Improper transfer of custody. Third party was Third party was the successful successful bidder so bidder.
holder did not have the option to convey to VA. Invalid sale results......... Reason sale
Basis for determining invalidated. that results changed or sale was invalid. Invalid sale results......... Bankruptcy....... Reason sale was determined to be invalid is that petition for relief was filed under U.S. bankruptcy codes by or on behalf of the obligor. Invalid sale results......... Contested
Reason sale was foreclosure. determined to be invalid is that the foreclosure was contested. Invalid sale results......... Third party fails Reason sale was to consummate determined to be sale.
invalid is that third party purchaser did not complete the purchase requirements. Invalid sale results......... Procedural errors Reason sale was determined to be invalid is procedural error, such as failure to give notice, legal issues, failure to comply with foreclosure laws, incorrect publication, trustee appointments, recording issues, etc. Invalid sale results......... SCRA............. Reason sale was determined to be invalid is that obligor has filed for relief under or is deemed to be entitled to the SCRA. Changed sale results......... Date third party Month, day, and year failed to
the third party consummate the failed to consummate sale.
the sale as per consummation requirements in the applicable state (i.e. the timeframe for consummation expired). Confirmed sale date with no Confirmation or Month, day, and year transfer of custody.
ratification of sale confirmation date (when no or ratification when transfer of
the servicer chooses custody).
to retain the property and the property is located in a confirmation or ratification of sale state. Basic Claim Information...... Claim type (for Type of claim the claim
servicer is submission--init submitting, either ial,
initial, supplemental, supplemental, or appeal).
appeal. Basic Claim Information...... Payee vendor ID Unique FMS-assigned (per FMS).
number used to identify the payee for VA purposes. Basic Claim Information...... Payee loan number Unique payee-assigned (if payee
number, used to differs from identify the servicer).
account. Basic Claim Information...... Borrower
Any unscheduled prepayment
payment to principal amount.
by the borrower. Basic Claim Information...... Date of
Month, day, and year prepayment.
each prepayment was applied. Basic Claim Information...... Interest Rate Interest Rate Changes.
Changes. Basic Claim Information...... Effective date of Effective date of change for SCRA change for SCRA (change date), (change date). if applicable. Basic Claim Information...... Interest rate for Interest rate for SCRA change, if SCRA change. applicable. Basic Claim Information...... ARM Loans (report ARM Loans (report all all changes). changes). Basic Claim Information...... Effective date of Effective date of change for ARM change for ARM loans loans (change (change date). date). Basic Claim Information...... Margin (for ARM Margin (for ARM interest rate interest rate changes).
changes). Basic Claim Information...... Date loan
Month, day, and year termination
that servicer reported to
reports to the credit bureaus. credit bureau that the loan has been terminated. Basic Claim Information...... Credits.......... Any monies being held to be applied to the account indebtedness. Basic Claim Information...... Refunds of
Any monies received insurance
from refunds of premiums.
insurance premiums. Basic Claim Information...... Tenant rents..... Any monies received from collection of rents from tenants. Basic Claim Information...... Insurance loss The following information. elements detail the allocation of insurance proceeds. Basic Claim Information...... Date insurance Month, day, and year claim payment monies were paid to received by
servicer as a result servicer.
of insurable loss. Basic Claim Information...... Date denied (if Month, day, and year applicable). that the insurance claim for damages was denied. Basic Claim Information...... Proceeds from Amount of insurance insurance claim. loss proceeds received.
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Basic Claim Information...... Disposition of Whether the insurance insurance
monies received were proceeds.
(a) applied to the unpaid principal balance, (b) used to restore the security, or (c) held in suspense. Basic Claim Information...... Applied to UPB... Whether the monies were (a) above. Basic Claim Information...... Used to restore Whether the monies security.
were (b) above. Basic Claim Information...... Held in suspense. Whether the monies were (c) above. Basic Claim Information....... Amount applied to Amount of monies from principal (if the insurance loss applicable). proceeds that were applied to the unpaid principal balance. Basic Claim Information...... Date applied to Month, day, and year UPB (if
that the insurance applicable). loss proceeds were applied to the unpaid principal balance. Basic Claim Information...... Escrow credit Amount of monies, if balance.
any, remaining in tax and insurance escrow account. Basic Claim Information...... Suspended credits Any other monies (partial
being held in payments in
suspense. suspense). Basic Claim Information...... Buydown credits Any unapplied seller from origination buydown credits from (seller
loan origination. buydowns). Basic Claim Information...... Buydown credits Amounts applied to from foreclosure (1) principal (only for pre- balance, (2) VALERI claims). interest, or (3) escrow to obtain specified bid (pre- VALERI terminations). Buydown funds should have been applied, not held in suspense. Basic Claim Information...... Date of buydown Date or dates of or buydowns. foreclosure buydowns (pre-VALERI terminations). Basic Claim Information...... Interest on
Amount of monies escrow.
earned from obligor's escrow account as a result of interest payments. Basic Claim Information...... Itemized Advances Amounts required to (payment date be advanced by the and amount must servicer to preserve be provided for and protect the each).
property and/or the lien position. Need date and amount for every advance). Basic Claim Information...... Insurance........ Amounts advanced by the servicer to obtain and/or continue insurance coverage. Basic Claim Information...... Forced place Amounts advanced by (annual), must the servicer to also provide obtain and/or effective date. continue yearly forced place insurance coverage; including month, day, and year that coverage became effective. Basic Claim Information...... Forced place Amounts advanced by (monthly binder). the servicer to obtain and/or continue monthly forced place insurance coverage. Basic Claim Information...... Flood............ Amounts advanced by the servicer to obtain and/or continue flood insurance coverage. Basic Claim Information...... Homeowner's/Fire/ Amounts advanced by Hazard.
the servicer to obtain and/or continue homeowner's, fire, and/or hazard insurance coverage. Basic Claim Information...... Wind............. Amounts advanced by the servicer to obtain and/or continue wind insurance coverage. Basic Claim Information...... Earthquake....... Amounts advanced by the servicer to obtain and/or continue earthquake insurance coverage. Basic Claim Information...... Taxes............ Amounts advanced by the servicer to pay amounts which were levied by a government authority upon the property. Basic Claim Information...... City............. Amounts advanced by the servicer to pay city taxes. Basic Claim Information...... County/Parish.... Amounts advanced by the servicer to pay county/parish taxes. Basic Claim Information...... School........... Amounts advanced by the servicer to pay school taxes. Basic Claim Information...... Levee............ Amounts advanced by the servicer to pay levee taxes. Basic Claim Information...... Township......... Amounts advanced by the servicer to pay township taxes. Basic Claim Information...... Municipal Utility Amounts advanced by District (MUD). the servicer to pay MUD taxes. Basic Claim Information...... Public Utility Amounts advanced by District (PUD). the servicer to pay PUD taxes. Basic Claim Information...... Special
Amounts advanced by assessments. the servicer to pay special assessments against the property. Basic Claim Information...... Ground rent...... Amounts advanced by the servicer to pay ground rent due on the property. Basic Claim Information...... Association fees. Amounts advanced by the servicer to pay HOA, CIA, PUD, and/ or condo association fees. Basic Claim Information...... Property
Amounts advanced by preservation. the servicer to protect and preserve the property. Basic Claim Information...... Yard maintenance. Amounts advanced by the servicer for required yard maintenance services performed on the property. Basic Claim Information...... Initial cut up to Amounts advanced by 5,000 s.f..
the servicer for initial mowing services of up to 5,000 square feet. Basic Claim Information...... Initial cut 5,001- Amounts advanced by 10,000 s.f.. the servicer for initial mowing services of between 5,001 and 10,000 square feet. Basic Claim Information...... Initial cut
Amounts advanced by 10,000 s.f. or the servicer for larger.
initial mowing services of greater than 10,000 square feet. Basic Claim Information...... Recut cut up to Amounts advanced by 5,000 s.f..
the servicer for additional mowing services of up to 5,000 square feet. Basic Claim Information...... Recut cut 5,001- Amounts advanced by 10,000 s.f.. the servicer for additional mowing services of between 5,001 and 10,000 square feet. Basic Claim Information...... Recut cut 10,000 Amounts advanced by s.f. or larger. the servicer for additional mowing services of greater than 10,000 square feet.
[[Page 68513]]
Basic Claim Information...... Trim shrubs...... Amounts advanced by the servicer for shrub trimming services performed on the property. Basic Claim Information...... Snow removal..... Amounts advanced by the servicer for snow removal services performed on the property. Basic Claim Information...... Winterization.... Amounts advanced by the servicer to prepare the property to withstand cold winter conditions. Basic Claim Information...... Dry heat-1 unit.. Amounts advanced by the servicer to winterize one property unit with dry heat. Basic Claim Information...... Dry heat-addl. Amounts advanced by units.
the servicer to winterize any additional property units with dry heat. Basic Claim Information...... Wet heat-1unit... Amounts advanced by the servicer to winterize one property unit with wet heat. Basic Claim Information...... Wet heat-addl. Amounts advanced by unit.
the servicer to winterize any additional property units with wet heat. Basic Claim Information...... Radiant heat-1 Amounts advanced by unit.
the servicer to winterize one property unit with radiant heat. Basic Claim Information...... Radiant heat- Amounts advanced by addl. unit.
the servicer to winterize any additional property units with radiant heat. Basic Claim Information...... Reduced pressure Amounts advanced by zone (RPZ) valve. the servicer to repair, replace, or install (as necessary to comply with state health department requirements) a reduced pressure zone (RPZ) valve. Basic Claim Information...... Pools, spas, and Amounts advanced by hot tubs
the servicer to winterization. winterize pools, spas, and hot tubs. Basic Claim Information...... Utilities........ Amounts advanced by the servicer to pay for necessary utility services. Basic Claim Information...... Electricity...... Amounts advanced by the servicer to pay for electricity. Basic Claim Information...... Gas.............. Amounts advanced by the servicer to pay for gas. Basic Claim Information...... Oil.............. Amounts advanced by the servicer to pay for oil. Basic Claim Information...... Propane.......... Amounts advanced by the servicer to pay for propane. Basic Claim Information...... Water and sewer.. Amounts advanced by the servicer to pay for water and sewer services. Basic Claim Information...... Equipment repair Amounts advanced by or replacement. the servicer for necessary equipment repair or replacement. Basic Claim Information...... Sump pump repair. Amounts advanced by the servicer to pay for repair of a required sump pump. Basic Claim Information...... Sump pump
Amounts advanced by installation. the servicer to pay for installation of a required sump pump. Basic Claim Information...... Pumping water Amounts advanced by from basement. the servicer to pay for services related to removing water from the basement of the property. Basic Claim Information...... Water well (pump, Amounts advanced by tank, and lines). the servicer to pay for necessary water well equipment repair or replacement. Basic Claim Information...... Securing......... Amounts advanced by the servicer to properly secure, protect, and preserve vacant and abandoned properties. Basic Claim Information...... Securing of the Amounts advanced by property.
the servicer to initially secure the property. Basic Claim Information...... Resecure property Amounts advanced by the servicer to resecure the property. Basic Claim Information...... Temporary roof Amounts advanced by repairs.
the servicer to make required temporary roof repairs. Basic Claim Information...... Pools, spas, and Amounts advanced by hot tubs
the servicer to securing.
properly secure pools, spas, and hot tubs. Basic Claim Information...... In-ground pools.. Amounts advanced by the servicer to properly secure in- ground pools. Basic Claim Information...... Above ground..... Amounts advanced by the servicer to properly secure above ground pools. Basic Claim Information...... Hot tubs or spas. Amounts advanced by the servicer to properly secure hot tubs or spas. Basic Claim Information...... Pools, spas, and Amounts advanced by hot tubs
the servicer to pay maintenance. for necessary maintenance to pools, spas, and hot tubs. Basic Claim Information...... Boarding......... Amounts advanced by the servicer to properly board any openings in the property (windows and doors) with plywood. Basic Claim Information...... Boarding-\1/2\plywood. the servicer to pay for boarding with \1/ 2\ plywood. Basic Claim Information...... Boarding-\5/8\plywood. the servicer to pay for boarding with \5/ 8\ plywood. Basic Claim Information...... Boarding-\3/4\plywood. the servicer to pay for boarding with \3/ 4\ plywood. Basic Claim Information...... Hazard Abatement. Amounts advanced by the servicer to take necessary actions in compliance with federal, state and local regulations with regards to environmental hazards (such as asbestos and radon). Basic Claim Information...... Debris removal... Amounts advanced by the servicer to remove debris from the property, in compliance with federal, state and local regulations. Basic Claim Information...... Cubic yards
Total number of cubic removed.
yards of debris removed.
[[Page 68514]]
Basic Claim Information...... Amount paid per Amounts advanced by cubic yard.
the servicer to remove debris from the property, per cubic yard. Basic Claim Information...... Number of units Amounts advanced by (1, 2, 3, or 4). the servicer for debris removal from one unit. Basic Claim Information...... Vehicle removal.. Amounts advanced by the servicer to remove abandoned vehicle(s) from the property in compliance with state and local requirements. Basic Claim Information...... Liquidation
Expenses incurred by expenses.
the servicer necessary to terminate the loan. Basic Claim Information...... Attorney fees.... Expenses incurred by the servicer for legal representation necessary to terminate the loan. Basic Claim Information...... Foreclosure
Expenses incurred by attorney fees. the servicer for necessary legal representation related to terminating the loan by foreclosure. Basic Claim Information...... DIL attorney fees Expenses incurred by the servicer for necessary legal representation related to terminating the loan by deed in lieu of foreclosure. Basic Claim Information...... Bankruptcy
Expenses incurred by attorney fees-- the servicer for chapter 7.
necessary legal representation related to filing for a relief of stay in a Chapter 7 bankruptcy proceeding. Basic Claim Information...... Bankruptcy
Expenses incurred by attorney fees-- the servicer for chapter 13/11. necessary legal representation related to filing for a relief of stay in a Chapter 13 or 11 bankruptcy proceeding. Basic Claim Information...... Bankruptcy
Expenses incurred by attorney fees-- the attorney fees- multiple.
servicer for necessary legal multiple representation related to filing for a relief of stay in multiple bankruptcy proceedings. Basic Claim Information...... Ad litem/ curator Expenses incurred by fees/ warning the servicer for order attorney legal representation fees.
appointed by a court to act on behalf of another party, which is necessary to terminate the loan. Basic Claim Information...... Attorney service Expenses incurred by tax.
the servicer for payment of taxes imposed on attorney service fees. Basic Claim Information...... Attorney fee for Expenses incurred by foreclosure
the servicer for restarts.
necessary legal representation related to terminating the loan in the event that the initial foreclosure was cancelled (not postponed) due to events outside the servicer's control and must be restarted. Basic Claim Information...... Appraisals....... Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the property. Basic Claim Information...... Single unit...... Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the single unit property. Basic Claim Information...... Duplex........... Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the two unit property. Basic Claim Information...... Three units...... Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the three unit property. Basic Claim Information...... Four units....... Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the four unit property. Basic Claim Information...... Condominium...... Expenses incurred by the servicer to have a VA-assigned appraiser determine the market value of the condominium property. Basic Claim Information...... Appraisal service Expenses incurred by tax.
the servicer for payment of taxes imposed on services of appraiser. Basic Claim Information...... Court appraisal.. Expenses incurred by the servicer to have a court ordered appraisal completed to determine the market value of the property. Basic Claim Information...... Mileage.......... Expenses incurred by the servicer to have a VA-assigned appraiser travel to the property to perform an appraisal. Basic Claim Information...... Appraisal update. Expenses incurred by the servicer to have a VA-assigned appraiser update the original appraisal of the property. Basic Claim Information...... Title............ Expenses incurred by the servicer for title related costs necessary to terminate the loan. Basic Claim Information...... Title search..... Expenses incurred by the servicer for search of records (performed by title company or attorney) prior to a foreclosure sale (to insure a valid foreclosure). Basic Claim Information...... Title examination Expenses incurred by the servicer for a close examination of all public records that affect the title to the property, including reviewing past deeds, wills, and trusts to make sure the title has passed correctly to each owner and to verify that all prior mortgages have been extinguished. Basic Claim Information...... Title commitment. Expenses incurred by the servicer for a written commitment from the title company stating the conditions under which the title company will insure title to the property. Basic Claim Information...... Trustee sale Expenses incurred by guaranty (TSG). the servicer for a written commitment from the title company stating the conditions under which it will insure title to the property following a proper foreclosure. Basic Claim Information...... Title endorsement Expenses incurred by the servicer to pay required endorsement fees. Basic Claim Information...... Title update..... Expenses incurred by the servicer to pay for required updates to the title commitment. Basic Claim Information...... Title policy..... Expenses incurred by the servicer to pay for the title policy. Basic Claim Information...... Title opinion/ Expenses incurred by abstracting
the servicer for a legal opinion. statement issued by an attorney as to the quality of title after examining an abstract of title.
[[Page 68515]]
Basic Claim Information...... Abstracting
Expenses incurred by update.
the servicer to pay for required updates to the abstract. Basic Claim Information...... Title service tax Expenses incurred by the servicer to pay taxes imposed on title services. Basic Claim Information...... Certificate of Expenses incurred by regularity.
the servicer to establish sufficiency of probate (wills) proceedings, or other proceedings held outside the county in which the property is situated. Basic Claim Information...... Filing fees...... Expenses incurred by the servicer as charged by public officials in the property's area for recording or filing documents related to the loan obligation. Basic Claim Information...... Judgment......... Expenses incurred by the servicer as charged by public officials for the recording or filing of a judgment. Basic Claim Information...... Bankruptcy....... Expenses incurred by the servicer as charged by public officials for the recording or filing of bankruptcy- related motions. Basic Claim Information...... Lis pendens...... Expenses incurred by the servicer as charged by public officials for the recording or filing of notice of the filing of a suit. Basic Claim Information...... Summons.......... Expenses incurred by the servicer as charged by public officials for the recording or filing of a summons. Basic Claim Information...... Complaint........ Expenses incurred by the servicer as charged by public officials for the recording or filing of a complaint. Basic Claim Information...... Petition......... Expenses incurred by the servicer as charged by public officials for the recording or filing of a petition. Basic Claim Information...... Order confirming Expenses incurred by sale.
the servicer as charged by public officials for the recording or filing of an order confirming sale. Basic Claim Information...... Posting notice of Expenses incurred by sale.
the servicer as charged by public officials for the posting of the notice of sale. Basic Claim Information...... Notice affidavit. Expenses incurred by the servicer as charged by public officials for the recording or filing of the affidavit stating that proper notice of sale was posted. Basic Claim Information...... Military
Expenses incurred by affidavit.
the servicer for a sworn, written statement, affirming that the property owner is not entitled to any rights under the SCRA. Basic Claim Information...... Notice of
Expenses incurred by publication
the servicer as affidavit.
charged by public officials for the recording or filing of the affidavit stating that proper notice of sale was published. Basic Claim Information...... Index number..... Expenses incurred by the servicer as charged by public officials for the recording or filing of the index number. Basic Claim Information...... Request for
Expenses incurred by judicial
the servicer as intervention. charged by public officials for the recording or filing of a request for judicial intervention. Basic Claim Information...... Recording fees-- Expenses incurred by foreclosure. the servicer as charged by public officials for recording or filing foreclosure documents. Basic Claim Information....... Foreclosure deed Expenses incurred by (sheriff's,
the servicer as trustee's,
charged by public referee's, or officials for commissioner's recording or filing deed).
of the deed following foreclosure. Basic Claim Information...... Assignment of Expenses incurred by sheriff's deed. the servicer as charged by public officials for recording or filing the assignment of the deed following foreclosure. Basic Claim Information...... Sheriff's
Expenses incurred by certificate of the servicer as sale.
charged by public officials for recording or filing the Sheriff's certificate of sale. Basic Claim Information...... Assignment of Expenses incurred by sheriff's
the servicer as certificate of charged by public sale.
officials for recording or filing the assignment of the Sheriff's certificate of sale. Basic Claim Information....... Deed to VA....... Expenses incurred by the servicer as charged by public officials for recording or filing the deed to VA. Basic Claim Information...... Notice of
Expenses incurred by foreclosure. the servicer as charged by public officials for recording or filing the notice of foreclosure. Basic Claim Information...... Substitution of Expenses incurred by trustee
the servicer as (appointment, charged by public agreement, or officials for document).
recording or filing the substitution of trustee. Basic Claim Information...... Notice of default/ Expenses incurred by foreclosure
the servicer as notice.
charged by public officials for recording or filing the notice of default/foreclosure notice. Basic Claim Information...... Judgment......... Expenses incurred by the servicer as charged by public officials for the recording or filing of a judgment. Basic Claim Information...... Summons.......... Expenses incurred by the servicer as charged by public officials for the recording or filing of a summons. Basic Claim Information...... Certificate of Expenses incurred by non-redemption. the servicer as charged by public officials for the recording or filing of a certificate of non-redemption. Basic Claim Information...... Recording Fees-- Expenses incurred by DIL.
the servicer as charged by public officials for recording or filing deed in lieu of foreclosure documents. Basic Claim Information...... Warranty deed Expenses incurred by from owner to the servicer as holder.
charged by public officials for recording or filing the deed from owner to holder. Basic Claim Information...... Estoppel
Expenses incurred by affidavit.
the servicer as charged by public officials for recording or filing the estoppel affidavit. Basic Claim Information...... Deed to VA....... Expenses incurred by the servicer as charged by public officials for recording or filing the deed to VA.
[[Page 68516]]
Basic Claim Information...... Satisfaction of Expenses incurred by mortgage.
the servicer as charged by public officials for recording or filing the satisfaction of mortgage/release of mortgage. Basic Claim Information...... Deed of
Expenses incurred by reconveyance/ the servicer as full release. charged by public officials for recording or filing the deed of reconveyance/full release. Basic Claim Information...... Foreclosure
Expenses incurred by facilitation the servicer as fees.
charged by public officials to facilitate the foreclosure process. Basic Claim Information...... Sheriff's/
Expenses payable with administrator/ respect to sheriff/ commissioner administrator/ fees and costs commissioner fees (includes court and costs. costs). Basic Claim Information...... Trustee/referee/ Expenses incurred by master in equity the servicer to pay fees.
the trustee/referee/ master in equity for fees charged. Basic Claim Information...... Auctioneer's fee. Expenses incurred by the servicer to pay the auctioneer to conduct the foreclosure sale. Basic Claim Information...... Court recorder Expenses incurred by fee.
the servicer to pay the court recorder for recording services. Basic Claim Information...... Prothonatory/ Expenses incurred by clerk's fee. the servicer to pay the prothonotary/ clerk for fees charged. Basic Claim Information...... Other fees and Expenses incurred by costs.
the servicer to pay for any liquidation Expenses not previously listed. Basic Claim Information...... Publication of Expenses incurred by sale/
the servicer to pay advertisement in for publication/ newspaper or on advertisement of the the internet. notice of sale in an appropriate newspaper. Basic Claim Information...... Service of
Expenses incurred by process.
the servicer to serve papers on any necessary party of interest. Basic Claim Information...... Personal (sheriff Expenses incurred by or private
the servicer to pay entity).
for fees charged to personally serve papers on any necessary party of interest. Basic Claim Information....... By publication... Expenses incurred by the servicer to pay for fees charged to serve legal notice on any necessary party of interest by publication. Basic Claim Information...... By certified Mail Expenses incurred by the servicer to send required notices by certified mail to all parties of interest. Basic Claim Information...... Investigation fee Expenses incurred by the servicer to pay the investigator for fees charged. Basic Claim Information...... Non-
Expenses incurred by extinguishable the servicer to pay liens.
for any liens that are not extinguished by the foreclosure action. Basic Claim Information...... Committee fees Fees and costs and costs.
incurred by the servicer to convene the committee to confirm the sale when there is equity and/or IRS liens. Basic Claim Information...... Transfer tax/ Expenses incurred by documentary
the servicer for the stamps.
state or local tax payable upon the transfer of a title. Basic Claim Information...... Property
Expenses incurred by inspections. the servicer for required property inspections. Basic Claim Information...... Dates inspections Months, days, years, completed.
property inspections were completed. Basic Claim Information...... Property
Expenses incurred by inspection fee. the servicer to pay fees charged for required property inspections. Basic Claim Information...... Municipal lien Expenses incurred by certificate. the servicer to obtain a municipal lien certificate. Basic Claim Information...... Title V septic Expenses incurred by (Massachusetts). the servicer to inspect for and certify compliance with Title V septic requirements. Basic Claim Information...... Poundage......... Fee charged by the court for handling the funds received from the sale of the property for third party bids. Basic Claim Information...... Mennonite notices Expenses incurred by the servicer to notify every party holding a legally protected property interest whose name and address can reasonably be determined by diligent efforts.
Paperwork Reduction Act of 1995
While the proposed rule sets forth collections of information pertaining to proposed Sec. 36.4315a, this supplemental notice contains no new or proposed revised collections of information outside of those referenced in the proposed rule.
Executive Order 12866
Executive Order 12866 directs agencies to assess all costs and benefits of available regulatory alternatives and, when regulation is necessary, to select regulatory approaches that maximize net benefits (including potential economic, environmental, public health and safety, and other advantages; distributive impacts; and equity). The Executive Order classifies a ``significant regulatory action,'' requiring review by the Office of Management and Budget (OMB) unless OMB waives such review, as any regulatory action that is likely to result in a rule that may: (1) Have an annual effect on the economy of $100 million or more or adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities; (2) Create a serious inconsistency or otherwise interfere with an action taken or planned by another agency; (3) Materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; or (4) Raise novel legal or policy issues arising out of legal mandates, the President's priorities, or the principles set forth in the Executive Order.
The economic, interagency, budgetary, legal, and policy implications of this supplemental notice of proposed rulemaking has been examined, and it has been determined not to be a significant regulatory action under Executive Order 12866.
[[Page 68517]]
Unfunded Mandates
The Unfunded Mandates Reform Act requires, at 2 U.S.C. 1532, that agencies prepare an assessment of anticipated costs and benefits before developing any rule that may result in an expenditure by State, local, or tribal governments, in the aggregate, or by the private sector, of $100 million or more in any given year. This supplemental notice of proposed rulemaking would have no such effect on State, local, or tribal governments, or the private sector.
Regulatory Flexibility Act
The Secretary hereby certifies that this supplemental notice of proposed rulemaking would not have a significant economic impact on a substantial number of small entities as they are defined in the Regulatory Flexibility Act, 5 U.S.C. 601-612. This notice provides additional information concerning the computer-based system that VA proposed to implement in its prior rulemaking notice. The additional information does not alone have any economic impact on small entities. Therefore, pursuant to 5 U.S.C. 605(b), the supplemental notice of proposed rulemaking is exempt from the initial and final regulatory flexibility analysis requirements of sections 603 and 604.
Catalog of Federal Domestic Assistance
The Catalog of Federal Domestic Assistance Program number is 64.114, Veterans Housing Guaranteed and Insured Loans.
Approved: November 20, 2006. R. James Nicholson, Secretary of Veterans Affairs.
[FR Doc. 06-9403 Filed 11-21-06; 12:29 pm]
BILLING CODE 8320-01-P
