55428 Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices 

DEPARTMENT OF VETERANS 

AFFAIRS 

Loan Guaranty: Loan Servicing and 

Claims Procedures Modifications 

Segment 4 Effective Date 

AGENCY: Department of Veterans Affairs 

(VA). 

ACTION: Notice of applicability of 

Subpart F of 38 CFR, Part 36, to 

Segment 4 of the mortgage servicing 

industry. 

SUMMARY: This publication is to serve as 

notice that on June 27, 2008, Subpart F 

of Title 38, Code of Federal Regulations, 

Part 36, will be applicable to industry 

segment 4. 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 4 

participants will be under the authority 

of Subpart F rules on June 27, 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. 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). 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 segment 

groupings may be found on VA’s Web 

site at http://www.homeloans.va.gov/ 

valeri.htm. The fourth segment will be 

subject to the new rules effective June 

27, 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 17, 2008. 

Gordon H. Mansfield, 

Deputy Secretary of Veterans Affairs. 

[FR Doc. E8–22299 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 5 Effective Date 

AGENCY: Department of Veterans Affairs 

(VA). 

ACTION: Notice of applicability of 

Subpart F of 38 CFR, Part 36, to 

Segment 5 of the mortgage servicing 

industry. 

SUMMARY: This publication is to serve as 

notice that on July 25, 2008, Subpart F 

of Title 38, Code of Federal Regulations, 

Part 36, will be applicable to industry 

segment 5. 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 5 

participants will be under the authority 

of Subpart F rules on July 25, 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 will be 

subject to the new rules effective July 

25, 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. E8–22303 Filed 9–23–08; 8:45 am] 

BILLING CODE 8320–01–P 


rwilkins on PROD1PC63 with NOTICES3