[Federal Register Volume 70, Number 19 (Monday, January 31, 2005)]
[Proposed Rules]
[Pages 4801-4802]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-1712]


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DEPARTMENT OF VETERANS AFFAIRS

38 CFR Part 36

RIN 2900-AK76


Loan Guaranty: Prepurchase Counseling Requirements

AGENCY: Department of Veterans Affairs.

ACTION: Proposed rule; withdrawal.

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SUMMARY: The Department of Veterans Affairs (VA) published a proposed 
rule in the Federal Register on October 11, 2001 (66 FR 51893) to amend 
its loan guaranty regulations that set forth underwriting standards for 
VA guaranteed loans. We had proposed to require first-time homebuyers 
to complete homeownership counseling and to add a compensating factor 
for certain veterans who do not fully meet VA's underwriting standards. 
However, the proposed rule and comments have been superseded by 
recently-adopted requirements established by the Department of Defense 
mandating such counseling for all enlistees and by VA's decision to 
provide a link to the Government National Mortgage

[[Page 4802]]

Association (Ginnie Mae's) Homeownership Information Center, which 
provides a wide array of information for homebuyers pertaining to the 
homebuying process, mortgage affordability, loan calculators, credit 
counseling, etc. Accordingly, this document hereby withdraws the 
proposed rule.

DATES: The proposed rule is withdrawn as of January 31, 2005.

FOR FURTHER INFORMATION CONTACT: R.D. Finneran, Assistant Director for 
Loan Policy and Valuation (262), Loan Guaranty Service, Veterans 
Benefits Administration, Department of Veterans Affairs, 810 Vermont 
Avenue, NW., Washington, DC 20420 (202) 273-7368.

    Approved: December 17, 2004.
Anthony J. Principi,
Secretary of Veterans Affairs.
[FR Doc. 05-1712 Filed 1-28-05; 8:45 am]
BILLING CODE 8320-01-P