VA issued a Servicer Newsflash discontinuing a reporting requirement for a servicing transfer (transferring servicer) event related to Veterans Affairs Servicing Purchase (VASP) loan transfers.
VA issued Circular 26-25-02, rescinding VA’s home retention waterfall and ending the VA Servicing Purchase (VASP) program. Per the Circular, as of May 1, 2025,
VA issued Circular 26-25-01, rescinding the procedure for a builder to request a VA builder identification number for processing VA guaranteed loans on new and
VA revised Topic 3 of chapter 6 the Lender’s Handbook (M26-7). Topic 3 of chapter 6 was revised due to a 2018 rule adoption that
VA issued Circular 26-24-19, clarifying documentation requirements related to supporting itemized fees and charges to the borrower (or assumer). Per the Circular, reasonable and customary
VA issued Circular 26-24-17, introducing secondary borrowing requirements on assumption transactions. Per the Circular, a servicer must ensure requirements related to lien position, documentation, allowable
VA revised Appendix F of the Servicer’s Handbook (M26-4). Steps 1, 2, and 6(b) were updated as follows: The revisions went into effect August 12,
VA revised chapter 9 of the Servicer Handbook (M26-4). Sections 9.02, 9.03, 9.04(b), 9.05, 9.06, 9.08, and 9.09 were updated as follows: The revisions went
VA issued Circular 26-24-16 clarifying the implementation date for the recently released guidance regarding the Home Retention Waterfall and other loss mitigation options outlined in
VA issued Circular 26-24-14, Change 1, amending how veteran-paid buyer-broker charges are to be recorded on the Closing Disclosure. Per the original Circular, VA authorized
FHA issued Mortgagee Letter (ML) 2025-14 revising and streamlining policy established in ML 2024-24 (Modernization of Engagement with Borrowers in Default) and providing clarifications to
Hawaii passed a bill amending the state’s nonjudicial power of sale foreclosure laws by adding 2 new sections to Chapter 667 (Foreclosures). Under the bill,
Oklahoma passed a bill amending breach of security requirements. Under the bill, a requirement was added that individuals and entities that own or license personal
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