Tag: VA

CFPB – 7 Administrative Proceedings and Consent Orders for Deceptive Loan Advertisements – NEW MTP™- Deceptive Advertising – Is It Too Good to Be True?

Written by: Lloyd Rutherford, Staff Writer In today’s world, every bit of advertising that you do is documented and retrievable.  Recently there has been a rash of consent orders from the CFPB over false advertising practices.  Read this article to learn what you need to avoid. Rule Synopsis: The CFPB completed an audit of a […]

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VA Eligibility with IRS Tax Liens

Question: Our client has 2 federal tax liens that are not satisfied.  The IRS has changed the status to “unable to pay”.  Will this be acceptable for VA Financing? Answer: Per the VA guideline below, your borrower would not be eligible for a VA loan because the delinquency has gone all the way to the […]

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VA IRRRL Term Reduction & Fee Recoupment

Question: I have a veteran wanting to do VA IRRRL, but with 15 yr. term. His interest rate will be 1.375% lower, but his payment will go up. Do fee recoupment requirements apply? Your chart says if PI payment goes up, the veteran can incur no fees? Can you explain requirements to proceed on this […]

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VA Circular 26-19-22 Change 1, Clarification and Updates to Policy Guidance for (IRRRLs), Effective July 24, 2020. New Chart – VA IRRRL Old Guidance vs. New Guidance

Written by: Tracey Rumsey, Staff Writer With the low rate environment, chances are good that you are very busy with refinances.  If you work with VA Refinances, there are new rules.  Read through this article to view the old guidance vs. the new guidance. Effective date July 24, 2020 Summary VA Circular 26-19-22 Change 1 […]

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Did you know this VA Secret? On a one-time basis, you can have your full eligibility restored if your prior VA loan has been paid in full, but you still own the property.  This allows you to keep your current property and use your benefits on a new home!

Did you know this VA Secret? On a one-time basis, you can have your full eligibility restored if your prior VA loan has been paid in full, but you still own the property.  This allows you to keep your current property and use your benefits on a new home!

Related Article Title: Veteran Pays Off Current VA Loan – Can They Get Another? Question: Our client used VA financing to buy their home.  They want to keep this home and purchase another home.  Are they able to use VA maximum financing on the new home? Answer: Good News! Yes they can, on a one-time-only […]

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