The Office of General Counsel's opinion clarifies the circumstances under which it would reimburse exempt veterans who were improperly charged a funding fee.
Implementing a provision in the Blue Water Navy Vietnam Veterans Act, the guidance would allow a VA fee-panel appraiser to provide property valuation based solely on information provided by an entity with which it has a service agreement.
VA loan-related provisions in the Blue Water Navy Vietnam Veterans Act of 2019 raise the maximum amount of entitlement available to veterans, the maximum guarantee of loans in excess of $144,000, a revised VA funding-fee table and a fee waiver for certain vets.
Buyout may be an option though an unnecessary one in addressing VA’s IRRRL problem, according to industry participants. An analyst suggests a recoupment issue can be cured by a cash payment to the borrower.
VA lending rose to a record $65.06 billion in the third quarter of 2019 as purchase and refinancing activity surged due to a decline in interest rates. (Includes two data charts.)
The Treasury has recommended Congress empower Ginnie Mae to provide “last position” guarantee on MBS backed by conventional home loans and au-thority to adjust its guarantee fee.
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