Sec. 7308. GOVERNMENT ACCOUNTABILITY OFFICE REPORTS ON PARTIAL CLAIM PROGRAM OF THE DEPARTMENT OF VETERANS AFFAIRS AND OTHER MATTERS

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## SEC. 7308 GOVERNMENT ACCOUNTABILITY OFFICE REPORTS ON PARTIAL CLAIM PROGRAM OF THE DEPARTMENT OF VETERANS AFFAIRS AND OTHER MATTERS ###

(a)Annual Reports ####

(1)In general Not later than one year after the date of the enactment of this Act, and every year thereafter until the Partial Claim Program terminates, the Comptroller General of the United States shall submit to the Committee on Veterans’ Affairs of the Senate and the Committee on Veterans’ Affairs of the House of Representatives a report. ####

(2)Elements Each report required by paragraph

(1)shall include, for the period covered by the report and disaggregated by quarter, the following: #####

(A)Key data on the performance of the Partial Claim Program, including— ######

(i)the number of partial claims filed and approved; and ######

(ii)the redefault and foreclosure rates of loans for which a partial claim was made. #####

(B)A comparison of the data described in subparagraph

(A)with data on the performance of other loss mitigation options provided by the Department of Veterans Affairs. #####

(C)The number of housing loans insured, guaranteed, or made by the Secretary of Veterans Affairs under chapter 37 of title 38, United States Code. #####

(D)The number of applications for housing loan benefits under such chapter denied. #####

(E)The number of housing loans insured, guaranteed, or made by the Secretary under such chapter refinanced under section 3710(a)(8) or 3712 of title 38, United States Code. #####

(F)The number of veterans who owe a payment on a mortgage associated with a loan insured, guaranteed, or made by the Secretary under such chapter that is at least— ######

(i)60 days late; and ######

(ii)90 days late. ###

(b)Assessment ####

(1)In general Not later than one year before the Partial Claim Program terminates, the Comptroller General shall— #####

(A)conduct an assessment of the benefits and challenges of the Partial Claim Program; and #####

(B)submit to the Committee on Veterans’ Affairs of the Senate and the Committee on Veterans’ Affairs of the House of Representatives a report on the findings of the Comptroller General with respect to that assessment. ####

(2)Considerations In conducting the assessment required by paragraph (1), the Comptroller General shall consider the following: #####

(A)The characteristics of borrowers for whom a partial claim was made compared to the characteristics of borrowers provided other loss mitigation options by the Department of Veterans Affairs. #####

(B)The performance of loans guaranteed under chapter 37 of title 38, United States Code, following various loss mitigation actions. #####

(C)The information the Department considered in determining whether a borrower would benefit from a partial claim compared to other loss mitigation options. #####

(D)The costs to taxpayers of the Partial Claim Program compared to the costs of other loss mitigation options provided by the Department. #####

(E)Any similarities and differences in the Department’s administration and use of the Partial Claim Program compared to the Department’s administration and use of the COVID-19 Veterans Assistance Partial Claim Payment program established under subpart F of part 36 of title 38, Code of Regulations. #####

(F)The information the Department learned from the COVID-19 Veterans Assistance Partial Claim Payment program and the extent to which those lessons learned were applied to the Partial Claim Program. #####

(G)The types of information the Department collected to monitor the performance and effectiveness of the Partial Claim Program and how the Department used that information to make any needed adjustments to the program. #####

(H)How the use by the Department of partial claims compares to the use of partial claims by other Federal housing agencies, including, for each partial claim program— ######

(i)the volume of loans for which partial claims have been made; ######

(ii)the results for borrowers (including redefault and foreclosure rates); and ######

(iii)the costs to taxpayers. ###

(c)Partial Claim Program Defined In this section, the term “Partial Claim Program” means the Partial Claim Program of the Department of Veterans Affairs carried out under section 3737 of title 38, United States Code. # TITLE IV OTHER MATTERS