AL65 - Comment from EverHome Mortgage

Document ID: VA-2006-VBA-0242-0002
Document Type: Public Submission
Agency: Department Of Veterans Affairs
Received Date: December 07 2006, at 04:02 PM Eastern Standard Time
Date Posted: February 1 2007, at 12:00 AM Eastern Standard Time
Comment Start Date: November 27 2006, at 12:00 AM Eastern Standard Time
Comment Due Date: December 11 2006, at 11:59 PM Eastern Standard Time
Tracking Number: 801e99ce
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This is comment on Proposed Rule

AL65 - Loan Guaranty: Loan Servicing and Claims Procedures Modifications

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The ability to complete monthly reporting in a electronic manner would be welcome. However, the data elements that are being requested far exceed the reporting requirements of any other GSE or insurer. A large portion of the new proposed fields are not currently tracked on any service bureau provider's systrem. To comply with these changes as written would require extensive manaul tracking with a substantial increase in the cost to service VA loans. These costs could ultimatley impact the veteran in a negatove manner. Extension programming would be required to accomodate electronic reporting of this data. To my knowlede, file specifications have not been provided to any service providers to allow them to provide a feasibility study on complying with these requirements.

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AL65 - Comment from EverHome Mortgage
Public Submission Posted: 02/01/2007 ID: VA-2006-VBA-0242-0002