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Department of Veterans Affairs: Improved Measures Needed to Assess SupplementalLoan Servicing Program

机译:退伍军人事务部:评估补充贷款服务计划所需的改进措施

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Every year, thousands of veterans default on mortgage loans guaranteed by theDepartment of Veterans Affairs (VA). When veterans default on these loans, lenders may foreclose on the loans and file claims against the VA loan guaranty program. In fiscal year 2000, VA paid claims on over 24,000 foreclosed loans. To help veterans retain their homes and minimize their financial losses, VA has a policy of providing additional assistance through its supplemental loan servicing program. This report responds to your request that we review VAs supplemental loan servicing program. Our objectives were to describe VAs policies and procedures for servicing troubled loans, assess VAs implementation of its policies and procedures for servicing troubled loans, and analyze VAs measures for assessing the effectiveness of its supplemental servicing program and ability to generate meaningful data for overseeing and improving loan servicing.

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