# Loan Guaranty: Prepurchase Counseling Requirements
**AGENCY:**
Department of Veterans Affairs.
**ACTION:**
Proposed rule; withdrawal.
**SUMMARY:**
The Department of Veterans Affairs (VA) published a proposed rule in the *Federal Register* on October 11, 2001 (66 FR 51893) to amend its loan guaranty regulations that set forth underwriting standards for VA guaranteed loans. We had proposed to require first-time homebuyers to complete homeownership counseling and to add a compensating factor for certain veterans who do not fully meet VA's underwriting standards. However, the proposed rule and comments have been superseded by recently-adopted requirements established by the Department of Defense mandating such counseling for all enlistees and by VA's decision to provide a link to the Government National Mortgage Association (Ginnie Mae's) Homeownership Information Center, which provides a wide array of information for homebuyers pertaining to the homebuying process, mortgage affordability, loan calculators, credit counseling, etc. Accordingly, this document hereby withdraws the proposed rule.
**DATES:**
The proposed rule is withdrawn as of January 31, 2005.
**FOR FURTHER INFORMATION CONTACT:**
R.D. Finneran, Assistant Director for Loan Policy and Valuation (262), Loan Guaranty Service, Veterans Benefits Administration, Department of Veterans Affairs, 810 Vermont Avenue, NW., Washington, DC 20420 (202) 273-7368.
Approved: December 17, 2004.
Anthony J. Principi,
Secretary of Veterans Affairs.