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.
Continuing with its efforts to curb serial refinancing, VA is set to tell certain lenders that their recent refinances may be ineligible for a guarantee, accord-ing to industry sources.
The American Legion and the Iraq and Afghanistan Veterans of America have announced their opposition to the House legislation to hike the fees charged for VA home-loan guarantees.
VA lenders and servicers have been instructed to ensure that information regarding funding fee exemptions is current at the time of closing to avoid in-correct fee charges to disabled veterans.
Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.
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