|
Circulars/News - 2007
PDF Documents
- To read PDF
documents, you need a PDF
viewer. Links to viewer
software can be found at this link.
Circular 26-07-3 - Change 1 -
January 15, 2008
Appraisal of Proposed or
Under Construction Properties from Model Homes
PURPOSE:
The purpose of this change is to correct a chapter
reference in paragraph 3 of the basic circular.
Circular 26-07-4 -
November 30, 2007
Valuing
Properties During Periods of Declining Market
PURPOSE: The purpose of
this circular is to reaffirm VA’s requirement that
the appraised value, for a property that will become
the security for a VA guaranteed loan, must reflect
the current fair market value. VA has historically
required VA fee appraisers to provide a value
estimate in accordance with VA’s regulatory
definition of reasonable value (38 CFR 36.4301),
“that value which represents the amount a reputable
and qualified appraiser, unaffected by personal
interest, bias, or prejudice, would recommend to a
prospective purchaser as a proper price or cost in
light of prevailing conditions.” During periods of
rapidly increasing or declining real estate values,
it may become more difficult to establish an
estimate of the current fair market value.
Circular 26-07-3 -
November 30, 2007
Appraisal of Proposed or
Under Construction Properties from Model Homes
PURPOSE: To announce that
appraisers are now authorized to use model homes, in
lieu of construction exhibits (plans and
specifications), to appraise “Proposed or Under
Construction” properties, as defined in Chapter 10
of the VA Lender’s Handbook.
Circular 26-07-2 -
October 16, 2007
Updating Specially Adapted Housing
Records
PURPOSE:
The purpose of this circular is to advise Loan
Guaranty personnel of the importance of keeping
accurate and timely Specially Adapted Housing (SAH)
records in The Appraisal System (TAS). In addition,
there are also some new requirements for the Loan
Guaranty report that tracks seriously injured
veterans and service members designated as
participants in the Global War On Terrorism (GWOT).
Circular 26-07-1 -
August 7, 2007
"Any Qualified Veteran" as the Borrower
on VA Appraisals
PURPOSE:
The purpose of this circular is to advise program
participants of a new policy for VA appraisal
reports.
VALERI
(VA Loan Electronic Reporting Interface)
Previous Circulars
|
