VA Revises Chapter 5 of Servicer’s Handbook (M26-4)
May 13, 2024
VA revised chapter 5 of the Servicer’s Handbook (M26-4). Sections 5.01, 5.02, 5.03, 5.04, 5.05, 5.07 and 5.10 were updated as follows: The revisions are
VA revised chapter 5 of the Servicer’s Handbook (M26-4). Sections 5.01, 5.02, 5.03, 5.04, 5.05, 5.07 and 5.10 were updated as follows: The revisions are
Virginia passed a bill amending provisions regarding foreclosed property. Under the bill, a subordinate mortgage lienholder must provide to the trustee and the borrower, at
VA issued Circular 26-24-09 announcing the creation of Form 26-10291 (Assumption Entitlement Acknowledgement). Per the Circular, VA created Form 26-10291 to increase awareness related to
VA issued Circular 26-24-08 to offer a 40-Year Loan Modification option to assist borrowers in reaching an affordable payment in the current environment of rising
VA revised chapter 9 of the Servicer’s Handbook (M26-4). Chapter 9 was retitled from “Refunds” to “VA Purchase”. Sections 9.01 and 9.02 were also updated
VA issued Circular 26-23-10, Change 1, providing additional information regarding fees that may be charged to and paid by a person assuming a VA-guaranteed loan
VA issued Circular 26-24-05 authorizing in advance, as a local variance, an Assumption Locality Variance charge (Variance). Per the Circular, a lender may charge an
VA issued Circular 26-24-02 amending COVID-19 Home Retention Waterfall and COVID-19 Refund Modification requirements. Per the Circular, VA included a 40-year repayment term for a
VA issued Circular 26-23-25 to announce a temporary foreclosure moratorium for borrowers. The Circular strongly encourages servicers to establish a moratorium on initiating, continuing, and/or
VA revised Chapter 7, (Topic 7) of the Lender’s Handbook (M26-7). VA made the following changes: The revisions went into effect July 27, 2023. Click
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