Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices 55429 

DEPARTMENT OF VETERANS 

AFFAIRS 

Loan Guaranty: Loan Servicing and 

Claims Procedures Modifications 

Segment 6 Effective Date 

AGENCY: Department of Veterans Affairs 

(VA). 

ACTION: Notice of applicability of 

Subpart F of 38 CFR, Part 36, to 

Segment 6 of the mortgage servicing 

industry. 

SUMMARY: This publication is to serve as 

notice that on September 19, 2008, 

Subpart F of Title 38, Code of Federal 

Regulations, Part 36, will be applicable 

to industry segment 6. Program 

participants in the VA Home Loan 

Guaranty Program’s servicing and 

claims activities were assigned to one of 

nine industry segments as part of the 

planned phased implementation of the 

rules in Subpart F. All program 

participants were given notice of their 

respective segments and were afforded 

opportunity to comment during the 

regulatory development process (see 

SUPPLEMENTARY INFORMATION section, 

below). Segment 6 participants will be 

under the authority of Subpart F rules 

on September 19, 2008. VA continues to 

work with these participants to ensure 

that all necessary servicing system 

modifications, defect corrections, 

interface testing and data transmission 

are addressed. 

SUPPLEMENTARY INFORMATION: On Friday, 

February 1, 2008, VA published final 

regulations that modify its Loan 

Guaranty Program’s loan servicing and 

claims procedures modifications (73 FR 

6294). In response to comments 

received to the proposed regulations (70 

FR 8472, published February 18, 2005) 

and to a supplemental notice published 

on November 27, 2006 (71 FR 68498), 

VA published a second supplemental 

notice on June 1, 2007 (72 FR 30505), 

in which the agency put forth a proposal 

to phase-in implementation of the new 

tracking system. 

Based on comments received to the 

proposed regulations and the first 

supplemental notice, VA decided to 

proceed with gradual implementation of 

the new rules and its computer-based 

tracking system, the VA Loan Electronic 

Reporting Interface (VALERI), with nine 

separate industry segments to be phased 

in over a period of approximately 11 

months. In order to ease confusion that 

was created by the original schedule 

showing the fourth segment not subject 

to the new rules until approximately the 

same time as the ninth segment, VA 

moved the former members of industry 

segment four into the last segment, and 

renumbered all subsequent segments 

accordingly. This resulted in only eight 

industry segments. The first segment 

was subject to the new rules upon 

publication of the final regulations, 

when the rules became effective. The 

second segment was subject to the new 

rules effective April 19, 2008 (73 FR 

21176). The third segment was subject 

to the new rules effective May 30, 2008 

(73 FR 34993). The fourth segment was 

subject to the new rules effective June 

27, 2008. The fifth segment was subject 

to the new rules effective July 25, 2008. 

The sixth segment will be subject to the 

new rules effective September 19, 2008. 

Notices about effective dates for other 

industry segments may be found in this 

issue of the Federal Register. 

FOR FURTHER INFORMATION CONTACT: 

Mike Frueh, Department of Veterans 

Affairs, 810 Vermont Avenue, NW., 

Washington, DC 20420, (202) 461–9521 

(Not a toll-free number). 

Approved: September 16, 2008. 

Gordon H. Mansfield, 

Deputy Secretary of Veterans Affairs. 

[FR Doc. E8–22304 Filed 9–23–08; 8:45 am] 

BILLING CODE 8320–01–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

Loan Guaranty: Loan Servicing and 

Claims Procedures Modifications 

Segment 7 Effective Date 

AGENCY: Department of Veterans Affairs 

(VA). 

ACTION: Notice of applicability of 

Subpart F of 38 CFR, Part 36, to 

Segment 7 of the mortgage servicing 

industry. 

SUMMARY: This publication is to serve as 

notice that on October 17, 2008, Subpart 

F of Title 38, Code of Federal 

Regulations, Part 36, will be applicable 

to industry segment 7. Program 

participants in the VA Home Loan 

Guaranty Program’s servicing and 

claims activities were assigned to one of 

nine industry segments as part of the 

planned phased implementation of the 

rules in Subpart F. All program 

participants were given notice of their 

respective segments and were afforded 

opportunity to comment during the 

regulatory development process (see 

SUPPLEMENTARY INFORMATION section, 

below). Segment 7 participants will be 

under the authority of Subpart F rules 

on October 17, 2008. VA continues to 

work with these participants to ensure 

that all necessary servicing system 

modifications, defect corrections, 

interface testing and data transmission 

are addressed. 

SUPPLEMENTARY INFORMATION: On Friday, 

February 1, 2008, VA published final 

regulations that modify its Loan 

Guaranty Program’s loan servicing and 

claims procedures modifications (73 FR 

6294). In response to comments 

received to the proposed regulations (70 

FR 8472, published February 18, 2005) 

and to a supplemental notice published 

on November 27, 2006 (71 FR 68498), 

VA published a second supplemental 

notice on June 1, 2007 (72 FR 30505), 

in which the agency put forth a proposal 

to phase-in implementation of the new 

tracking system. 

Based on comments received to the 

proposed regulations and the first 

supplemental notice, VA decided to 

proceed with gradual implementation of 

the new rules and its computer-based 

tracking system, the VA Loan Electronic 

Reporting Interface (VALERI), with nine 

separate industry segments to be phased 

in over a period of approximately 11 

months. In order to ease confusion that 

was created by the original schedule 

showing the fourth segment not subject 

to the new rules until approximately the 

same time as the ninth segment, VA 

moved the former members of industry 

segment four into the last segment, and 

renumbered all subsequent segments 

accordingly. This resulted in only eight 

industry segments. The first segment 

was subject to the new rules upon 

publication of the final regulations, 

when the rules became effective. The 

second segment was subject to the new 

rules effective April 19, 2008 (73 FR 

21176). The third segment was subject 

to the new rules effective May 30, 2008 

(73 FR 34993). The fourth segment was 

subject to the new rules effective June 

27, 2008. The fifth segment was subject 

to the new rules effective July 25, 2008. 

The sixth segment was subject to the 

new rules effective September 19, 2008. 

The seventh segment will be subject to 

the new rules effective October 17, 

2008. Notices about effective dates for 

other industry segments may be found 

in this issue of the Federal Register. 

FOR FURTHER INFORMATION CONTACT: 

Mike Frueh, Department of Veterans 

Affairs, 810 Vermont Avenue, NW., 

Washington, DC 20420, (202) 461–9521 

(Not a toll-free number). 

Approved: September 16, 2008. 

Gordon H. Mansfield, 

Deputy Secretary of Veterans Affairs. 

[FR Doc. E8–22224 Filed 9–23–08; 8:45 am] 

BILLING CODE 8320–01–P 


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