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Circulars/News -
2009
Important Announcements:
PDF Documents
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We are pleased to announce the upcoming 2009 VA
Lender's Conference being held October 22-23 in San
Antonio, TX . For more information about the
conference, please go to
this link.
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IN THE NEWS:
Effective immediately,
Certificates of Eligibility will no longer display a
veteran’s date of birth. This change was made to
limit the amount of personal data being displayed on
Certificates of Eligibility. Please note,
however, that veterans will still need to provide
their date of birth when submitting an application
for a determination of eligibility in order to
process their request. |
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VA Reaching Out to Vets with Mortgage Problems.
Please read
this link
for important information to veteran homeowners.
Additionally, please read
this link
which provides some additional information and
assistance for Veterans.
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Enhanced VA Mortgage Options Now Available for
Veterans Of Potential Benefit to Those in Financial
Distress. Please go to
this link
for more information.
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Please go to
this link
for 2009 VA County Loan
Limits and
this link
for 2008 VA County Loan Limits.
This link
has examples for calculating the VA
guaranty.
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On October 10, 2008, the President signed S. 3023,
the Veterans' Benefits Improvement Act of 2008.
Please go to
this link
for important information to veteran homeowners.
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If you
have been affected by natural disasters, please click on
this link
for important information to veteran homeowners.
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Circular 26-09-11 - July 7, 2009
Market Conditions Addendum to VA Appraisal - Preparation Fee
PURPOSE: The purpose of this
circular is to announce that, effective with
appraisal assignments dated August 1, 2009 or later,
VA is increasing the maximum allowable appraisal
fees for all property types by $50.
Circular 26-09-8 - May 22, 2009
Suspension of Master Certificate of Reasonable Value Issuance
PURPOSE: The purpose of this
circular is to announce the suspension of issuing
Master Certificates of Reasonable Value (MCRV).
Circular 26-09-7 - May 1, 2009
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 26-09-6 - March 31, 2009
Sale of New Construction Properties by Lenders
PURPOSE: The purpose of this
circular is to announce that, under certain
circumstances, the Department of Veterans Affairs
(VA) will allow for the purchase of “new
construction” properties without either a VA 1-year
warranty or a 10-year insurance backed protection
plan.
Circular 26-09-5 - March 31, 2009
VA Appraisal Requirements on Foreclosed Properties
PURPOSE: This circular
reaffirms Department of Veterans Affairs (VA) policy
that all properties, including foreclosed
properties, must meet minimum property requirements
(MPRs) prior to VA Loan Guaranty.
Circular 26-09-4 - March 27, 2009
Market Conditions Addendum to VA Appraisal
PURPOSE: The purpose of this
circular is to announce that, effective no later
than April 1, 2009, VA will require appraisers to
include Fannie Mae Market Conditions Addendum, Form
1004MC, in all VA appraisal reports.
Circular 26-09-3 - March 27, 2009
Agreement of Sale/Sales Contract to be Provided to the Fee Appraiser
PURPOSE: The purpose of this
circular is to announce the Department of Veterans
Affairs (VA) requirement that a copy of the
agreement of sale or sales contract be provided to
the fee appraiser by the requester of the VA
appraisal immediately upon assignment.
Circular 26-09-2 - March 12, 2009
Minor Change to the Certificate of Eligibility
PURPOSE: The purpose of this
circular is to announce a minor change to VA Form
26-8320, Certificate of Eligibility, for home loan
benefits.
Circular 26-08-19 - Change 1 - February 18, 2009
Implementation of Loan Guaranty Provisions of Public Law 110-389
PURPOSE: The purpose of this
circular is to clarify entitlement calculations for
certain veterans with previously used, unrestored
entitlement. The instructions, as stated in
paragraph 4 of the basic circular, could lead
lenders to underestimate the amount of entitlement
available to these borrowers.
Circular 26-08-5 - Change 1 - February 10, 2009
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 26-07-3 - Change 2 - February 10, 2009
Appraisal of Proposed or Under Construction Properties from Model Homes
PURPOSE: The purpose of this
change is to extend the rescission date of the basic
circular and to make a correction to a chapter
reference.
Circular 26-09-1 - February 2, 2009
Changes to VA Form 26-0286, VA Loan Summary Sheet
PURPOSE: Effective May 1, 2009,
lenders will be required to report additional
information on all regular (also referred to as
“cash-out”) refinance loans. The additional data
will enable VA to more effectively monitor aspects
of our program. The appropriate enhancements have
been incorporated in WebLGY.
Previous Circulars
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