VA set forth a policy guidance (Guidance) for Interest Rate Reduction Refinance Loans. Under the Guidance, lenders are required to provide the Veteran’s Statement and Lender Certification (if applicable) to borrowers no later than the 3rd business day after receiving the borrower’s loan application. The Guidance also mandates that additional information (from the Loan Estimate or Closing Disclosure) be included on the initial and final Veteran’s Statement. In addition, the Guidance requires lenders to confirm in the Loan Guaranty Certificate process that the Veteran’s Statement and Lender Certification was provided, and requires the lender to provide the Veteran’s Statement and Lender Certification to VA at the time the Loan Guaranty Certificate is requested. The amended policy applies to loans closed on or after April 1, 2018.
FHA
FHA Revises and Streamlines Policy Established in Mortgagee Letters 2024-24 and 2025-12
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
June 4, 2025
