The Secretary shall prescribe a mandatory sequence of loss mitigation options
To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions in the case of a default on a home loan guaranteed by the Secretary, and for other purposes, section 2, Sec. 2.
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The Secretary shall prescribe a mandatory sequence of loss mitigation options
The document says “shall”Who acts: Secretary of Veterans AffairsHow: statuteSec. 2 in the PDF
What the document says
“The Secretary shall prescribe loss mitigation procedures, including a mandatory sequence in which the holder of a loan guaranteed under this chapter shall offer loss mitigation options (including an option to enter into a partial claim agreement under the VA Home Loan Program Reform Act) to a veteran, to help prevent the foreclosure of such loan.”
A new subsection (d) added to section 3732 of title 38, United States Code, requires the Secretary of Veterans Affairs to write loss mitigation procedures and to fix the order in which a holder must offer the options to a veteran. The partial claim agreement created by section 3 of this Act is named as one of them.
What the document actually says
“The Secretary shall prescribe loss mitigation procedures, including a mandatory sequence in which the holder of a loan guaranteed under this chapter shall offer loss mitigation options (including an option to enter into a partial claim agreement under the VA Home Loan Program Reform Act) to a veteran, to help prevent the foreclosure of such loan.”
That sentence, in plain words
The VA must write out ways to help a veteran keep a home. It must set the order lenders offer them in.
What this is about
A lender cannot pick and choose the order. One of the steps is the new deal set up by part 3 of this law.
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.
VA Home Loan Program Reform Act, Public Law 119-31, sec. 2, 139 Stat. 475 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ31/html/PLAW-119publ31.htm
This page
“The Secretary shall prescribe a mandatory sequence of loss mitigation options,” VA Home Loan Program Reform Act, section 2, Sec. 2. Read the Mandate, https://readthemandate.org/va-home-loan-program-reform-act/proposal/sec02-loss-mitigation-sequence/ (retrieved August 26, 2026).
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