Regulacje i polityka gospodarcza · 11.10.2001

Loan Guaranty: Prepurchase Counseling Requirements

This document proposes to amend the Department of Veterans Affairs (VA) loan guaranty regulations that set forth underwriting standards for VA guaranteed loans. We propose to require first-time homebuyers to complete homeownership counseling. We also propose to add the completion of financial or homeownership counseling as a compensating factor for certain veterans who do not fully meet VA's underwriting standards. We believe these changes are necessary to ensure that homebuyers are satisfactory credit risks.