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This entry was published on 2023-04-07
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SECTION 29-A
Loan counseling for mortgages guaranteed by the Servicemen's Readjustment Act of 1944
Veterans' Services (VET) CHAPTER 13, ARTICLE 1
* § 29-a. Loan counseling for mortgages guaranteed by the Servicemen's
Readjustment Act of 1944. Upon the request of any veteran, the
department shall provide counseling and assistance to applicants for a
mortgage loan guaranteed by the Servicemen's Readjustment Act of 1944.
Such service shall be provided either directly or through a contract
with a not-for-profit entity which has a Commercial and Government
Entity (CAGE) code assigned by the federal System for Award Management
and which is not owned by, affiliated with or operated by a mortgage
company. Counselors shall be certified by the United States department
of housing and urban development under Part 214 of Title 24 of the Code
of Federal Regulations. Loan counseling and assistance shall include a
review of the terms and restrictions of the loan and any other
information which may be required under federal law, rule or regulation.
The department may promulgate regulations necessary to prevent any
potential conflicts of interest between counselors and mortgage
companies to ensure that any counseling and assistance provided under
the provisions of this section shall be made in the best interest of the
veteran seeking such mortgage loan.

* NB There are 2 § 29-a's