Circulars/News - 2008
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Circular 26-08-5 - Change 3 - January 9, 2012
Expansion of the Types of Ownership Interests Permissible Under the Specially Adapted Housing (SAH) Grant Program
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations continue to provide guidance on VA’s position with respect to this procedure.
Circular 26-08-14 Change 2 - October 28, 2011
VA Acceptance of Homebuyer Assistance Programs
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations continue to provide guidance on VA’s position with respect to this procedure.
Circular 26-08-5 - Change 2 - June 23, 2010
Expansion of the Types of Ownership Interests Permissible Under the Specially Adapted Housing (SAH) Grant Program
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations continue to provide guidance on VA’s position with respect to this procedure.
Circular 26-08-8 - Change 1 - April 26, 2010
Loan Modifications Under VALERI
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations continue to provide guidance on VA’s position with respect to this procedure.
Circular 26-08-14 - Change 1 - April 23, 2010
VA Acceptance of Homebuyer Assistance Programs
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations continue to provide guidance on VA’s position with respect to this procedure.
Circular 26-08-4 - Change 1 - March 16, 2010
Temporary Reduction in the Validity Period on VA Notices of Value and Master Certificates of Reasonable Value for Proposed Construction Cases
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations can continue to issue VA Notices of Value or Master Certificates of Reasonable Value within the 6-month validity period.
Circular 26-08-3 - Change 1 - February 3, 2010
Processing Transfers of Ownership Under VALERI
PURPOSE: The purpose of this change is to extend the rescission date of the basic circular so that stations continue to provide guidance on VA’s position with respect to this procedure.
Circular 26-08-21 - December 9, 2008
Reporting Paid-In Full Loans
PURPOSE: This circular describes the procedures for reporting paid-in-full loans to VA upon full satisfaction of the loan by payment or otherwise.
Circular 26-08-10 - Change 1 - November 7, 2008
New VA Property Management Contractor
PURPOSE: The purpose of this change is to revise the address for holders and servicers to submit title documents to VA's property management contractor, Countrywide Home Loans (CHL), and to change the address to be reflected on all endorsements on insurance in force at the time of loan termination.
Circular 26-08-17 - September 5, 2008
Elimination/Consolidation of Certain Certifications
PURPOSE: This circular announces the elimination of certain certifications and requirements in the processing of VA guaranteed home loans. It also provides a consolidated certification (exhibit A) for use in originating VA loans. These changes will help lenders by eliminating redundancies and consolidating mandatory certifications into a single certification. The changes do not signal a relaxing of VA credit underwriting standards or a lessening of lender responsibilities.
Circular 26-08-15 - September 4, 2008 (Rescinded by Circular 26-08-19 on 10/16/2008)
Expiration of VA Authority to Guarantee Adjustable Rate Mortgages and Hybrid Adjustable Rate Mortgages
PURPOSE: Unless Congress extends the Department of Veterans Affairs’ authority to guarantee adjustable rate mortgages (ARMs) and hybrid adjustable rate mortgages (HARMs), these loan types will expire on September 30, 2008. Lenders should not accept applications for VA-guaranteed ARMs and HARMs after September 30, 2008. Lenders with an ARM or HARM application dated September 30, 2008 or earlier may obtain a VA Loan Guaranty Certificate so long as the loan closes within a reasonable time and satisfies all other VA program requirements.
Circular 26-08-14 - August 19, 2008
VA Acceptance of Homebuyer Assistance Programs
PURPOSE: The purpose of this circular is to establish requirements for VA acceptance of Homebuyer Assistance Programs (HAP) for use by veteran-homebuyers in conjunction with VA-guaranteed home financing.
Circular 26-08-13 - August 7, 2008
Access to Vacant Properties for Liquidation Appraisals
PURPOSE: This circular describes the policies and procedures for VA fee appraisers to obtain access to vacant properties to perform VA liquidation appraisals.
Circular 26-08-10 - July 22, 2008
New VA Property Management Contractor
PURPOSE: This circular provides guidance for submission of title documents to the new property management contractor for the VA home loan guaranty program, which is Countrywide Home Loans (CHL), a wholly-owned subsidiary of Bank of America.
Circular 26-08-9 - June 18, 2008
Interior Inspections on Abandoned Properties
PURPOSE: The purpose of this circular is to clarify VA’s position on requirements for conducting interior inspections on abandoned properties.
Circular 26-08-7 - Change 1 - June 18, 2008
Allowable Attorney Fees and Outsourcing
PURPOSE: The purpose of this change is to clarify as simply as possible VA’s position on outsourcing.
Circular 26-08-8 - June 10, 2008
Loan Modifications Under VALERI
PURPOSE: The purpose of this circular is to clarify the applicable maximum interest rate and new requirements when modifying a loan under the new VA Loan Electronic Reporting Interface (VALERI) environment.
Circular 26-08-7 - May 1, 2008
Allowable Attorney Fees and Outsourcing
PURPOSE: The purpose of this circular is to clarify VA’s position on allowable attorney fees and costs of outsourcing foreclosure referral and management services.
Circular 26-08-5 - March 12, 2008
Expansion of the Types of Ownership Interests Permissible Under the Specially Adapted Housing (SAH) Grant Program
PURPOSE: This circular announces an expansion of the types of ownership interests permissible under the Specially Adapted Housing (SAH) grant program.
Circular 26-08-4 - February 14, 2008
Temporary Reduction in the Validity Period on VA Notices of Value and Master Certificates of Reasonable Value for Proposed Construction Cases
PURPOSE: The purpose of this circular is to announce a temporary reduction in the validity period for VA Notices of Value (NOV) and Master Certificates of Reasonable Value (MCRV) for proposed construction cases. VA will use a 6-month validity period for all proposed construction cases. This action will result in the same validity periods for both existing construction and proposed construction cases.
Circular 26-08-3 - February 7, 2008
Processing Transfers of Ownership Under VALERI
PURPOSE: The purpose of this circular is to explain how to process transfers of ownership under new VA regulations, specifically subpart F of part 36 of Title 38 of the Code of Federal Regulations (CFR), which establishes the VA Loan Electronic Reporting Interface (VALERI) environment.
Circular 26-08-1 - February 5, 2008
Allowable Attorney Fees, Claim Time Limits, and New Liquidation Appraisal Review Authority
PURPOSE: The purpose of this circular is to announce new limits on allowable attorney fees, the establishment of a time limit on the submission of claims under loan guaranty, and new authority for review of liquidation appraisals.
VALERI (VA Loan Electronic Reporting Interface)
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