The Secretary may issue guidance before prescribing regulations
What the document says“Notwithstanding any other provision of law, the Secretary may, before prescribing regulations, issue administrative guidance with respect to the Partial Claim Program under this section and the loss mitigation options prescribed under section 3732(d) of this title, including any additional terms, conditions, and requirements the Secretary determines necessary.”
The rewritten subsection (h) of section 3737 of title 38 lets the program run on guidance while the rules are being written.
What the document actually says“Notwithstanding any other provision of law, the Secretary may, before prescribing regulations, issue administrative guidance with respect to the Partial Claim Program under this section and the loss mitigation options prescribed under section 3732(d) of this title, including any additional terms, conditions, and requirements the Secretary determines necessary.”
The Secretary may give written advice before the rules are made. That advice may add terms.
Writing a rule takes a long time. Lenders need to know what to do now. Guidance fills that gap.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.