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36.4314 to clarify the conditions under which a loan holder could modify an existing loan without the prior approval of VA.
Comments must be received on or before June 15, 2007. For additional information please click on the following links.An unnamed spokesperson for Treasury downplayed the revelation, saying, "Treasury did not issue a request for proposals, and no contract was awarded." But that raises a host of questions from Investors Unite and, frankly, this writer.For instance, if this presentation came from an unsolicited pitch, as Treasury claims, then why wasn't it with FHFA?In order to make this distinction clearer, VA proposes to add a new definition in Sec.
36.4301 to describe the duties, responsibilities and rights of servicers VA proposed extensive changes to the existing rule in Sec.By implementing the new tracking system in this way, VA's goal is to bring on board the largest number of loans as early as its system can handle them, while also taking into account the number of servicers, the extent of servicers' interfaces, the types of loan portfolios, and other unique testing factors that VA can anticipate at this stage.