VA-approved lenders should not submit payments for loans closed on or after Oct. 1 until the impact of recent legislation passed by Congress and awaiting President Obama’s signature becomes clear, the Department of Veterans Affairs said in a recent notice. The legislation apparently provides higher funding fees for VA home loans, contrary to changes in funding fees announced by the VA in Circular 26-11-12 on Sept. 8. Lenders were advised not to act until further notice. If the President signs the legislation, it will, in effect, keep funding fees at their FY2011 rates through Nov. 17, 2011, the VA said. This means ...