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Federal Register / Vol. 86, No. 102 / Friday, May 28, 2021 / Rules and Regulations 36.4802 General purpose of the COVID
19 Veterans Assistance Partial Claim Payment program.

The COVID19 Veterans Assistance Partial Claim Payment program is a temporary program to help veterans who have suffered a COVID19
financial hardship. Notwithstanding the requirements elsewhere in this part regarding payment of a guaranty claim or refunding a loan, VA may assist a veteran exiting a COVID19 forbearance by purchasing from the servicer the veterans COVID19 indebtedness. Such a purchase is called a partial claim payment. In exchange for VAs partial claim payment on behalf of the veteran, the veteran must agree to repay the Secretary, in the amount of such partial claim payment, upon loan terms established by the Secretary.
Authority: 38 U.S.C. 3703c, 3720, 3732
36.4803 General requirements of the COVID19 Veterans Assistance Partial Claim Payment program.

The following general requirements must be met before the Secretary will allow for participation in the COVID19
Veterans Assistance Partial Claim Payment program:
a The loan for which a partial claim payment is requested must be a guaranteed loan that was either 1 Current or less than 30 days past due on March 1, 2020; or 2 Made on or after March 1, 2020;
b The veteran on whose behalf VA
will pay a partial claim payment both received a COVID19 forbearance and missed at least one scheduled monthly payment;
c There remains unpaid at least one scheduled monthly payment that the veteran did not make while under a COVID19 forbearance;
d The veteran indicates that the veteran can resume making scheduled monthly payments, on time and in full, and that the veteran occupies, as the veterans residence, the property securing the guaranteed loan for which the partial claim payment is requested;
and e The veteran executes, in a timely manner, all loan documents necessary to establish an obligation to repay the Secretary for the partial claim payment.
The Office of Management and Budget has approved the information collection requirements in this section under control number 2900XXXX
Authority: 38 U.S.C. 3703c, 3720, 3732
36.4804 Partial claim payment as a home retention option.

a The Veterans Assistance Partial Claim Payment program is designed to address the financial hardships due,
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directly or indirectly, to the COVID19
national emergency. A servicer may therefore use the partial claim payment option, even in cases where other home retention options are feasible, provided the partial claim payment option is in the veterans financial interest.
b If the veteran notifies the servicer that the veteran does not want to retain ownership of the property securing the guaranteed loan, the servicer may immediately proceed to offering an alternative to foreclosure.
Authority: 38 U.S.C. 3703c, 3720, 3732
36.4805 Terms of the partial claim payment.

a In order for a partial claim payment to be payable, the servicer must submit to the Secretary, not later than 120 days after the date the veteran exits the COVID19 forbearance, a request for such payment, as prescribed in 36.4807.
b The amount of the partial claim payment that VA will pay to the servicer, as calculated under paragraph e of this section, shall not exceed 30
percent of the unpaid principal balance of the guaranteed loan. For the purposes of this paragraph b, the unpaid principal balance of the guaranteed loan means such balance as of the date the veteran entered into a COVID19
forbearance.
c VA will pay only one partial claim payment per guaranteed loan.
d VA will pay only one partial claim payment per veteran.
e1 Because VA will pay only one partial claim payment per guaranteed loan, and only one partial claim payment per veteran, a servicer must, when calculating the amount of partial claim payment to be paid by VA to the servicer, include the full amount of indebtedness that is necessary to bring the guaranteed loan current.
2 To bring the guaranteed loan current, servicers must include the full COVID19 indebtedness, comprising i All scheduled but missed monthly payments of principal and interest; and ii As applicable, all scheduled but missed monthly escrow payments for real estate taxes and insurance premiums, or where the guaranteed loan documents do not provide for monthly escrowing, all payments the servicer made to real estate tax authorities and insurance providers, on the veterans behalf, during the COVID19
forbearance.
3 Also in bringing the guaranteed loan current, servicers must include i All scheduled monthly payments comprising principal, interest, and escrow payments for real estate taxes and insurance premiums due within 31

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days of the date the servicer provides to the veteran the note and security instrument described in 36.4806;
ii If applicable, all scheduled monthly payments comprising principal, interest, and escrow payments for real estate taxes and insurance premiums that were missed on or after March 1, 2020, but before the veteran was granted the COVID19
forbearance; and iii The actual amount of recording fees, recording taxes, or other charges levied by the recording authority, that must be paid in order to record the security instrument described in 36.4806.
4 Except for amounts identified in paragraphs e2 and 3 of this section, servicers shall not include any amounts e.g., fees, penalties, or interest beyond the amounts scheduled or calculated as if the veteran made all contractual payments on time and in full under the terms of the guaranteed loan.
5 Nothing in this section shall preclude a veteran from making an optional payment or a servicer from waiving a veterans indebtedness, such that the amount of partial claim payment would not exceed the 30
percent cap described in paragraph b of this section.
6 If the servicer miscalculates the partial claim amount, resulting in an overpayment to the servicer, the amount of such overpayment shall constitute a liability of the servicer to the United States. The servicer must remit the overpaid amount immediately to VA.
7 If the servicer miscalculates the partial claim amount, resulting in underpayment i.e., an amount insufficient to bring the guaranteed loan current, the servicer must waive the difference.
8 Servicers shall not include any amounts for a monthly payment that is scheduled to be paid on a date that is more than 31 days after the servicer provides to the veteran the note and security instrument described in 36.4806.
f The servicer must prepare a note and security instrument in favor of the Secretary of Veterans Affairs, an Officer of the United States. The name of the incumbent Secretary should not be included unless State law requires naming a real person.
1 The note must be consistent with the terms described in 36.4806 and include all borrowers who are obligated on the guaranteed loan; and 2 The security instrument must include all persons borrowers, as well as non-borrowers who hold a title interest in the property securing the guaranteed loan.

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