VA issued Circular 26-19-05, clarifying VA’s new policies regarding cash-out refinancing loans. In December of 2018, VA adopted rules amending requirements with respect to all cash-out refinancing loans. This Circular clarifies requirements with respect to loan-to-value, net tangible benefit, disclosures, loan seasoning, and fee recoupment. The clarified policies apply to all VA cash-out refinance loan applications taken on or after February 15, 2019.
Click Here to View the VA Circular 26-19-05
