VA

VA Circular 26-19-22 Clarification and Updates to Policy Guidance for VA Interest Rate Reduction Refinance Loans (IRRRLs) – Dated August 8, 2019 -Updated VA Refinance Comparison Chart

Written by: Tracey Rumsey, Staff Writer VA issued a major update for IRRRL. Any production staff involved in the VA loan process needs to become aware of these important changes. Rule Synopsis: This Circular supersedes Circulars 26-18-1 (and Change 1) and 26-18-13. This Circular and the VA Handbook are now the guideline authority to follow [...]

2019-08-09T13:33:06-05:00August 12th, 2019|

VA has issued multiple bulletins which have substantially changed their Interest Rate Reduction Loans. Before you apply for a VA refinance, contact me first and let’s review those changes to make sure the program still works for you!

Related Article Title: VA Circular 26-19-22 Clarification and Updates to Policy Guidance for VA Interest Rate Reduction Refinance Loans (IRRRLs) – Dated August 8, 2019 -Updated VA Refinance Comparison Chart Written by: Tracey Rumsey, Staff Writer VA issued a major update for IRRRL. Any production staff involved in the VA loan process needs to become [...]

2019-08-09T13:26:38-05:00August 12th, 2019|Social Media Posts, VA|

How do I establish probability of continued employment for a Veteran who has 5 years of military service and is recently employed as a civilian?

Answer: VA requires additional analysis on the employment of a recently discharged veteran. (See guideline below.) Your underwriter may ask for a letter from the employer to document the file to show that this was done. Reference: VA Lenders Handbook Chapter 4 Analysis of Prospects for Continued Employment Cases involving recently discharged Veterans often require [...]

2019-07-24T11:04:34-05:00July 25th, 2019|

Transitioning from the Military life to the Civilian life is tough enough without having to worry about how the VA looks at your income history. VA has special requirements for this, so contact me and let’s figure it out for your situation.

Related Article Title: How do I establish probability of continued employment for a Veteran who has 5 years of military service and is recently employed as a civilian? Answer: VA requires additional analysis on the employment of a recently discharged veteran. (See guideline below.) Your underwriter may ask for a letter from the employer to [...]

2019-07-24T11:04:13-05:00July 25th, 2019|Social Media Posts, VA|