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Office of Budget

Fiscal Year 2005 Performance and Accountability Report
Published November 15, 2005

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Strategic Goal Two: Smooth Transition to Civilian Life

Strategic Objective 2.3: Home Purchase and Retention

Improve the ability of veterans to purchase and retain a home by meeting or exceeding lending industry standards for quality, timeliness, and foreclosure avoidance.

Performance Trend and Impact of FY 2005 Result

Performance Trend FY 2005 Impact
Key Measure: Foreclosure Avoidance Through Servicing Ratio
2001 40%
2002 43%
2003 45%
2004 44%
2005 Result 48%
2005 Plan 47%
2006 Plan 47%
Strategic Target 47%
This result, which measures the success of VA's intervention efforts to prevent foreclosure, means that veteran homeowners were in a better position to avoid foreclosures.

Related Information

Major Management Challenges

Neither VA's Office of the Inspector General nor the Government Accountability Office identified any major management challenges related to this objective.

Program Evaluations

No independent program evaluations have been conducted recently that specifically address this objective.

Program Assessment Rating Tool (PART) Evaluation

In relation to this strategic objective, the Administration conducted a PART evaluation of VA's Loan Guaranty program during 2004, which resulted in a rating of "Results Not Demonstrated." Please see Summary Table 3 for more information.

New Policies and Procedures

VA will be implementing significant improvements in the management of defaults with emphasis on loan holders being compensated for foreclosure avoidance through loss mitigation.