VA Refinance

VA – IRRRL for Non-Owner Occupied: Does VA allow an IRRRL for a home that the Veteran no longer lives in? [VA Refinance Comparison Chart]

Answer: Yes.  The veteran just has to certify that they previously occupied the home as their primary residence. Social Media Post: Nice to Know:  VA will allow an IRRRL [Interest Rate Reduction Refinance Loan] on a home the Veteran still owns, but no longer occupies.  The Veteran only needs to certify that they previously occupied [...]

2019-03-25T08:50:53-05:00March 25th, 2019|

VA – More VA Cash-Out Refinance Changes, Circular 26-19-05, February 14, 2019 and Circular 26-19-05, Change 1, February 15, 2019, Effective February 15, 2019

Written By: Tracey Rumsey, Staff Writer VA continues to clarify and update the changes made to their VA Cash-Out Refinance Program.  If you work with VA loans, this is a must read! Rule Synopsis: This circular offers clarifications to the new guidelines for VA Cash Out refinance loans stated in Circular 26-18-30.  It also provides [...]

2019-03-10T15:41:09-05:00March 10th, 2019|

VA Cash-Out Refinance Changes, Circular 26-18-30 – Dated December 19, 2018 & Circular 26-18-30, Change 1, Dated December 21, 2018 – Effective February 15, 2019 [NEW VA Cash-Out Refinance Checklist]

Written By: Tracey Rumsey, Staff Writer If you work with VA financing, this is a must read.  There are big changes to how and when a VA loan can be refinanced. Rule Synopsis: Effective with loan applications taken on or after February 15, 2019 the following requirements will apply to all VA Cash-Out Refinance loans including [...]

2019-01-10T08:44:22-05:00January 10th, 2019|

VA-Circular 26-18-13 Policy Guidance Update: VA Refinance Loans and the Economic Growth, Regulatory Relief and Consumer Protection Act, Dated May 25, 2018-Effective for applications taken on or after May 25, 2018

By: Tracey Rumsey, Staff Writer Big news in the update that may affect VA loans already in your pipeline!   Read through this update to understand the policy guide and download our checklist to make sure that none of the loans in your pipeline are affected. Rule Synopsis: VA has published Circular26-18-13 which announces “The Protecting [...]

2018-06-11T11:08:53-05:00June 8th, 2018|

VA-Circular 26-18-1, Policy Guidance for VA Interest Rate Reduction Refinance Loans (IRRRL)

By: Tracey Rumsey, Staff Writer VA has issued policy guidance for VA IRRRL loans and updated disclosure requirements.  Be sure to read this update to ensure that you understand the timing on required disclosures. Rule Synopsis: Beginning with loans closed on or after April 1, 2018 lenders should provide to the Veteran the initial Veteran’s [...]

2018-06-01T13:05:41-05:00February 9th, 2018|