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38 U.S.C. § 2106 — Veterans’ mortgage life insurance

Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 2106 — Veterans’ mortgage life insurance

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Source file: Laws/federal/codes/united-states-code/title-38/section-2106-veterans-mortgage-life-insurance--67180a32da.md
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Source location: Title 38, Chapter 21, § 2106; chapter-021-specially-adapted-housing-for-disabled-veterans.md

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**(a)** The Secretary shall insure any individual under 70 years of age who has received assistance under this chapter against the death of the individual except for an individual who— (1) elects in writing to not receive insurance under this section; (2) fails to respond in a timely manner to a request from the Secretary for information on which the premium for such insurance can be based; or (3) receives such assistance under [section 2102B of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2102b&num=0&edition=prelim). **(b)** The amount of insurance provided an individual under this section may not exceed the lesser of $150,000, or after January 1, 2012, $200,000, or the amount of the loan outstanding on the housing unit. The amount of such insurance shall be reduced according to the amortization schedule of the loan and may not at any time exceed the amount of the outstanding loan with interest. If there is no outstanding loan on the housing unit, insurance is not payable under this section. If an eligible individual elects not to be insured under this section, the individual may thereafter be insured under this section, but only upon submission of an application, payment of required premiums, and compliance with such health requirements and other terms and conditions as may be prescribed by the Secretary. **(c)** The premiums charged an individual for insurance under this section shall be paid at such time and in such manner as the Secretary prescribes. The rates for such premiums shall be based on such mortality data as the Secretary considers appropriate to cover only the mortality cost of insuring standard lives. In the case of an individual receiving compensation or other cash benefits paid to the individual by the Secretary, the Secretary shall deduct from such compensation or other benefits the premiums charged the individual under this section. **(d)** (1) The United States shall bear the costs of insurance under this section to the extent that such costs exceed premiums established by the Secretary. Premiums collected on insurance under this section shall be credited to the “Veterans Insurance and Indemnities” appropriation account, and all disbursements of insurance proceeds under this section shall be made from that account. (2) There are authorized to be appropriated to the Secretary for such account such amounts as may be necessary to carry out this section. **(e)** Any amount of insurance in force under this section on the date of the death of an individual insured under this section shall be paid to the holder of the mortgage loan, for payment of which the insurance was granted, for credit on the loan indebtedness. Any liability of the United States under such insurance shall be satisfied when such payment is made. If the Secretary is the holder of the mortgage loan, the insurance proceeds shall be credited to the loan indebtedness and deposited in the Veterans Housing Benefit Program Fund established by [section 3722 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3722&num=0&edition=prelim). **(f)** The Secretary may prescribe such regulations relating to eligibility for insurance under this section, the maximum amount of insurance, the effective date of insurance, the maximum duration of insurance, and other pertinent matters not specifically provided for in this section as the Secretary determines are in the best interest of veterans or the United States. **(g)** The amount of the insurance in force at any time shall be the amount necessary to pay the mortgage indebtedness in full, except as otherwise limited by subsection (b) of this section or regulations prescribed by the Secretary under this section. **(h)** The Secretary shall issue to each individual insured under this section a certificate setting forth the benefits to which the individual is entitled under the insurance. **(i)** Insurance under this section shall terminate upon whichever of the following events first occurs: (1) Satisfaction of the individual’s indebtedness under the loan upon which the insurance is based. (2) Termination of the individual’s ownership of the property securing the loan. (3) Discontinuance of payment of premiums by the individual. **(j)** Termination of life insurance under this section shall not affect the guaranty or insurance of the loan by the Secretary.

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 1101 — Definitions

For the purposes of this chapter— (1) The term “veteran” includes a person who died in the active military, naval, air, or space service. (2) The term “period of war” includes, in the case of any veteran— (A) any period of service performed by such veteran after November 11, 1918, and before July 2, 1921, if such veteran served in the active military, naval, air, or space service after April 5, 1917, and before November 12, 1918; and (B) any period of continuous service performed by such veteran after December 31, 1946, and before July 26, 1947, if such period began before January 1, 1947. (3) The term “chronic disease” includes—Anemia, primary Arteriosclerosis Arthritis Atrophy, progressive muscular Brain hemorrhage Brain thrombosis Bronchiectasis Calculi of the kidney, bladder, or gallbladder Cardiovascular-renal disease, including hypertension Cirrhosis of the liver Coccidioidomycosis Diabetes mellitus Encephalitis lethargica residuals Endocarditis Endocrinopathies Epilepsies Hansen’s disease Hodgkin’s disease Leukemia Lupus erythematosus, systemic Myasthenia gravis Myelitis Myocarditis Nephritis Organic diseases of the nervous system Osteitis deformans (Paget’s disease) Osteomalacia Palsy, bulbar Paralysis agitans Psychoses Purpura idiopathic, hemorrhagic Raynaud’s disease Sarcoidosis Scleroderma Sclerosis, amyotrophic lateral Sclerosis, multiple Syringomyelia Thromboangiitis obliterans (Buerger’s disease) Tuberculosis, active Tumors, malignant, or of the brain or spinal cord or peripheral nerves Ulcers, peptic (gastric or duodenal) and such other chronic diseases as the Secretary may add to this list. (4) The term “tropical disease” includes—Amebiasis Blackwater fever Cholera Dracontiasis Dysentery Filiariasis Hansen’s disease Leishmaniasis, including kal

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 1101

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 3722 — Veterans Housing Benefit Program Fund

**(a)** There is hereby established in the Treasury of the United States a fund known as the Veterans Housing Benefit Program Fund (hereinafter in this section referred to as the “Fund”). **(b)** The Fund shall be available to the Secretary, without fiscal year limitation, for all housing loan operations under this chapter, other than administrative expenses, consistent with the Federal Credit Reform Act of 1990. **(c)** There shall be deposited into the Fund the following, which shall constitute the assets of the Fund: (1) Any amount appropriated to the Fund. (2) Amounts paid into the Fund under [section 3729 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3729&num=0&edition=prelim) or any other provision of law or regulation established by the Secretary imposing fees on persons or other entities participating in the housing loan programs under this chapter. (3) All other amounts received by the Secretary on or after October 1, 1998, incident to housing loan operations under this chapter, including— (A) collections of principal and interest on housing loans made by the Secretary under this chapter; (B) proceeds from the sale, rental, use, or other disposition of property acquired under this chapter; (C) proceeds from the sale of loans pursuant to sections 3720(h) and 3733(a)(3) of this title; and (D) penalties collected pursuant to [section 3710(g)(4)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710/g/4/B&num=0&edition=prelim). **(d)** Amounts deposited into the Fund under paragraphs (2) and (3) of subsection (c) shall be deposited in the appropriate financing or liquidating account of the Fund. **(e)** For purposes of this section, the term “housing loan” sh

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3722

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 2041 — Housing assistance for homeless veterans

**(a)** (1) To assist homeless veterans and their families in acquiring shelter or permanent housing, the Secretary may enter into agreements described in paragraph (2) with— (A) nonprofit organizations, with preference being given to any organization that is the recipient of a grant under section 2011, 2013, 2044, or 2061 of this title; or (B) any State or tribal entity, or any political subdivision thereof. (2) To carry out paragraph (1), the Secretary may enter into agreements to sell, lease, lease with an option to purchase, or donate real property, and improvements thereon, acquired by the Secretary as the result of a default on a loan made, insured, or guaranteed under this chapter. Such sale or lease or donation shall be for such consideration as the Secretary determines is in the best interests of homeless veterans and the Federal Government. (3) The Secretary may enter into an agreement under paragraph (1) of this subsection only if— (A) the Secretary determines that such an action will not adversely affect the ability of the Department— (i) to fulfill its statutory missions with respect to the Department loan guaranty program and the short- and long-term solvency of the Veterans Housing Benefit Program Fund established under [section 3722 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3722&num=0&edition=prelim); or (ii) to carry out other functions and administer other programs authorized by law; (B) the entity to which the property is sold, leased, or donated agrees to— (i) (I) utilize the property solely as a shelter or permanent housing primarily for homeless veterans and their families; or (II) sell or rent the property directly to homeless veterans or veterans at risk

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 2051 — General authority

**(a)** The Secretary may guarantee the full or partial repayment of a loan that meets the requirements of this subchapter. **(b)** (1) Not more than 15 loans may be guaranteed under subsection (a), of which not more than five such loans may be guaranteed during the 3-year period beginning on the date of the enactment of this subchapter. (2) A guarantee of a loan under subsection (a) shall be in an amount that is not less than the amount necessary to sell the loan in a commercial market. (3) Not more than an aggregate amount of $100,000,000 in loans may be guaranteed under subsection (a). **(c)** A loan may not be guaranteed under this subchapter unless, before closing such loan, the Secretary has approved the loan. **(d)** (1) The Secretary shall enter into contracts with a qualified nonprofit organization, or other qualified organization, that has experience in underwriting transitional housing projects to obtain advice in carrying out this subchapter, including advice on the terms and conditions necessary for a loan that meets the requirements of [section 2052 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2052&num=0&edition=prelim). (2) For purposes of paragraph (1), a nonprofit organization is an organization that is described in paragraph (3) or (4) of subsection (c) of section 501 of the Internal Revenue Code of 1986 and is exempt from tax under subsection (a) of such section. **(e)** The Secretary may carry out this subchapter in advance of the issuance of regulations for such purpose. **(f)** The Secretary may guarantee loans under this subchapter notwithstanding any requirement for prior appropriations for such purpose under any provision of law. **(g)** Notwithstanding any other provision of law, a multif

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 2051

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 2052 — Requirements

**(a)** A loan referred to in [section 2051 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2051&num=0&edition=prelim) meets the requirements of this subchapter if each of the following requirements is met: (1) The loan— (A) is for— (i) construction of, rehabilitation of, or acquisition of land for a multifamily transitional housing project described in subsection (b), or more than one of such purposes; or (ii) refinancing of an existing loan for such a project; and (B) may also include additional reasonable amounts for— (i) financing acquisition of furniture, equipment, supplies, or materials for the project; or (ii) in the case of a loan made for purposes of subparagraph (A)(i), supplying the organization carrying out the project with working capital relative to the project. (2) The loan is made in connection with funding or the provision of substantial property or services for such project by either a State or local government or a nongovernmental entity, or both. (3) The maximum loan amount does not exceed the lesser of— (A) that amount generally approved (utilizing prudent underwriting principles) in the consideration and approval of projects of similar nature and risk so as to assure repayment of the loan obligation; and (B) 90 percent of the total cost of the project. (4) The loan is of sound value, taking into account the creditworthiness of the entity (and the individual members of the entity) applying for such loan. (5) The loan is secured. (6) The loan is subject to such terms and conditions as the Secretary determines are reasonable, taking into account other housing projects with similarities in size, location, population, and services provided. **(b)** For purposes of this su

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 2052

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 2053 — Default

**(a)** The Secretary shall take such steps as may be necessary to obtain repayment on any loan that is in default and that is guaranteed under this subchapter. **(b)** Upon default of a loan guaranteed under this subchapter and terminated pursuant to State law, a lender may file a claim under the guarantee for an amount not to exceed the lesser of— (1) the maximum guarantee; or (2) the difference between— (A) the total outstanding obligation on the loan, including principal, interest, and expenses authorized by the loan documents, through the date of the public sale (as authorized under such documents and State law); and (B) the amount realized at such sale.

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 2053

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38 U.S.C. § 2054 — Audit

**(a)** During each of the first 3 years of operation of a multifamily transitional housing project with respect to which a loan is guaranteed under this subchapter, there shall be an annual, independent audit of such operation. Such audit shall include a detailed statement of the operations, activities, and accomplishments of such project during the year covered by such audit. The party responsible for obtaining such audit (and paying the costs therefor) shall be determined before the Secretary issues a guarantee under this subchapter. **(b)** After the first three years of operation of such a multifamily transitional housing project, the Secretary may provide for periodic audits of the project.

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 2101A — Eligibility for benefits and assistance: members of the Armed Forces with service-connected disabilities; individuals residing outside the United States

**(a) Members With Service-Connected Disabilities.—** (1) The Secretary may provide assistance under this chapter to a member of the Armed Forces serving on active duty who is suffering from a disability that meets applicable criteria for benefits under this chapter if the disability is incurred or aggravated in line of duty in the active military, naval, air, or space service. Such assistance shall be provided to the same extent as assistance is provided under this chapter to veterans eligible for assistance under this chapter and subject to the same requirements as veterans under this chapter. (2) For purposes of this chapter, any reference to a veteran or eligible individual shall be treated as a reference to a member of the Armed Forces described in subsection (a) who is similarly situated to the veteran or other eligible individual so referred to. **(b) Benefits and Assistance for Individuals Residing Outside the United States.—** (1) Subject to paragraph (2), the Secretary may, at the Secretary’s discretion, provide benefits and assistance under this chapter (other than benefits under [section 2106 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2106&num=0&edition=prelim)) to any individual otherwise eligible for such benefits and assistance who resides outside the United States. (2) The Secretary may provide benefits and assistance to an individual under paragraph (1) only if— (A) the country or political subdivision in which the housing or residence involved is or will be located permits the individual to have or acquire a beneficial property interest (as determined by the Secretary) in such housing or residence; and (B) the individual has or will acquire a beneficial property interest (as so determined) in s

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 2101A

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38 U.S.C. § 3702 — Basic entitlement

**(a)** (1) The veterans described in paragraph (2) of this subsection are eligible for the housing loan benefits of this chapter. In the case of any veteran who served on active duty during two or more of the periods specified in paragraph (2) for which eligibility for the housing loan benefits under this chapter may be granted, entitlement derived from service during the most recent such period (A) shall cancel any unused entitlement derived from service during any earlier such period, and (B) shall be reduced by the amount by which entitlement from service during any earlier such period has been used to obtain a direct, guaranteed, or insured housing loan— (i) on real property which the veteran owns at the time of application; or (ii) as to which the Secretary has incurred actual liability or loss, unless in the event of loss or the incurrence and payment of such liability by the Secretary the resulting indebtedness of the veteran to the United States has been paid in full. (2) The veterans referred to in the first sentence of paragraph (1) of this subsection are the following: (A) Each veteran who served on active duty at any time during World War II, the Korean conflict, or the Vietnam era and whose total service was for 90 days or more. (B) Each veteran who after September 15, 1940, was discharged or released from a period of active duty for a service-connected disability. (C) Each veteran, other than a veteran described in clause (A) or (B) of this paragraph, who— (i) served after July 25, 1947, for a period of more than 180 days and was discharged or released therefrom under conditions other than dishonorable; or (ii) has served more than 180 days in active duty status and continues on active duty without a break therein. (D) Each v

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3702

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Federal law — U.S. Code and appendices · legal_authorities

38 U.S.C. § 3703 — Basic provisions relating to loan guaranty and insurance

**(a)** (1) (A) Any loan to a veteran eligible for benefits under this chapter, if made for any of the purposes specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim) and in compliance with the provisions of this chapter, is automatically guaranteed by the United States in an amount not to exceed the lesser of— (i) (I) in the case of any loan of not more than $45,000, 50 percent of the loan; (II) in the case of any loan of more than $45,000, but not more than $56,250, $22,500; (III) except as provided in subclause (IV) of this clause, in the case of any loan of more than $56,250, the lesser of $36,000 or 40 percent of the loan; or (IV) in the case of any loan of more than $144,000 for a purpose specified in clause (1), (2), (3), (5), (6), or (8) of [section 3710(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710/a&num=0&edition=prelim), 25 percent of the loan; or (ii) the maximum amount of guaranty entitlement available to the veteran as specified in subparagraph (B) or (C). (B) With respect to loans described in subclauses (I), (II), or (III) of subparagraph (A)(i), the maximum amount of guaranty entitlement available to a veteran for purposes specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim) shall be $36,000, reduced by the amount of entitlement previously used by the veteran under this chapter and not restored as a result of the exclusion in [section 3702(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3702/b&num=0&edition=prelim). (C) (i) W

Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3703

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