Circulars/News - 2011
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Final Loan Modification Regulation Revision
PURPOSE: The purpose of this circular is to announce a final change to the regulation for modifying Department of Veterans Affairs (VA) guaranteed home loans that was previously published as an interim final rule.
Circular 26-09-8 Change 1 - December 22, 2011
Suspension of Master Certificate of Reasonable Value Issuance
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 26-11-21 - December 15, 2011
Policy Changes Affecting Value Adjustments and Photographs
PURPOSE: This circular announces changes to two issues – value adjustments to the Department of Veterans Affairs (VA) Notice of Value (NOV) by Lender’s Staff Appraisal Reviewers (SARs), and the requirement for interior photographs of subject properties.
Circular 26-11-19 - November 22, 2011
Funding Fee Update As Of November 22, 2011
PURPOSE: On November 21, 2011, the President signed H.R. 674. Section 265 of the law raises funding fees to the pre-November 18, 2011 levels. The fees specified in Section 265 are valid through September 30, 2016.
Circular 26-11-18 - November 15, 2011
Funding Fee Updates
PURPOSE: The purpose of this circular is to provide lenders with information on pending Congressional action affecting Department of Veterans Affairs (VA) funding fees. VA Circular 26-11-17 and other announcements noted the likelihood of funding fees remaining at their present levels.
Circular 26-11-17 - November 4, 2011
Future Funding Fee Changes
PURPOSE: This circular discusses the possibility of future funding fee changes for Department of Veterans Affairs (VA) home loans.
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 26-11-16 - October 13, 2011
Funding Fee Refund Procedures
PURPOSE: This circular announces that the Department of Veterans Affairs (VA) Funding Fee Payment System (FFPS) has been updated to calculate the funding fee changes noted in Circular 26-11-15 per Public Law 112-37, the Veterans Health Facilities Capital Improvement Act of 2011.
Circular 26-11-15 - October 6, 2011
Updated Funding Fee Changes
PURPOSE: The President signed H.R. 2646, Veterans Health Facilities Act Capital Improvement Act of 2011 on October 5, 2011. The bill includes a provision resulting in funding fees reverting to the same rates that existed prior to October 1, 2011 for loans closed October 6, 2011 through and including November 17, 2011. Rates for loans closed prior to enactment of H.R. 2646 and for loans closed on or after November 18, 2011 are discussed below.
Circular 26-11-14 - September 26, 2011
Uniform Appraisal Dataset (UAD)
PURPOSE: The purpose of this circular is to announce the adoption of Uniform Appraisal Dataset (UAD) compliant appraisal reports for Department of Veterans Affairs (VA) Loan Guaranty Program purposes.
Circular 26-11-13 - September 9, 2011
Transfer of Certificate of Eligibility (COE) Processing to Atlanta Regional Loan Center (RLC)
PURPOSE: This circular announces the transfer of all COE processing from the Winston-Salem Eligibility Center (EC) to the Atlanta RLC.
Circular 26-11-12 - September 8, 2011
Funding Fee Changes Effective October 1, 2011
PURPOSE: This circular announces changes in funding fees for Department of Veterans Affairs (VA) loans closed on or after October 1, 2011.
Circular 26-11-11 - September 8, 2011
Funding Fee (FF) Exemption Status and Verification of Income on Certificate of Eligibility (COE)
PURPOSE: This circular announces the first release of COEs incorporating the FF exemption status and Income Verification. By having the FF status shown on the COE, lenders in most cases will no longer be required to fax the Department of Veterans Affairs (VA) Form 26-8937, Verification of VA Benefits, to a VA office for processing. There will still be instances where faxing VA Form 26-8937 is necessary, but the majority of FF exemption determinations will be processed internally and displayed on the COE.
Circular 26-11-8 - May 20, 2011
Elimination of the Prior Loan Validation Requirement
PURPOSE: This circular announces that a Prior Loan Validation (PLV) is no longer required on Department of Veterans Affairs (VA) Interest Rate Reduction Refinance Loans (IRRRLs).
Circular 26-11-7 - May 16, 2011
SAHSHA Data and GWOT Reporting
PURPOSE: The purpose of this circular is to advise Loan Guaranty personnel of the importance of keeping accurate and timely records in SAHSHA, which is the system of record for the Specially Adapted Housing (SAH) program. In addition, all field staff must continue to maintain the Loan Guaranty report that tracks seriously injured veterans and servicemembers designated as participants in the Global War on Terrorism (GWOT). This circular restates information noted in Circular 26-07-2, Updating Specially Adapted Housing Records, which was rescinded October 1, 2010. This circular also removes references to The Appraisal System for SAH processing.
Circular 26-11-6 - May 4, 2011
Additional Relief Following Tornado Outbreaks
PURPOSE: This circular expresses concern about Department of Veterans Affairs (VA) home loan borrowers affected by the high number of tornado outbreaks in April 2011, and describes measures mortgagees may employ to provide relief.
Circular 26-11-5 - February 24, 2011
New Loan Modification Regulation
PURPOSE: The purpose of this circular is to announce the primary changes for modifying Department of Veterans Affairs (VA) guaranteed home loans resulting from a recent regulatory revision.
Circular 26-11-4 - February 22, 2011
Loan Guaranty Regulatory Update
PURPOSE: The purpose of this circular is to announce the completion of the Department of Veteran Affairs’ (VA) regulatory restructuring in Title 38 of the Code of Federal Regulations (CFR), part 36.
Circular 26-11-3 - January 26, 2011
Servicemembers Civil Relief Act
PURPOSE: This circular is a short reminder to servicers of several key provisions of the Servicemembers Civil Relief Act (hereafter referred to as either SCRA or the Act) and the need to establish appropriate internal controls to comply with the Act.
Circular 26-11-1 - January 6, 2011
Relocation Assistance For VA Borrowers
PURPOSE: This circular provides authority and instructions for mortgage servicers to pay relocation assistance to borrowers participating in two different loss mitigation options: (1) a deed-in-lieu of foreclosure (DIL); or (2) a short sale with VA compromise claim.
Previous Circulars
