Vetted VA News2022-01-12T14:56:55-08:00

VA Circular 26-21-23: Special Relief Following Kentucky Severe Storms, Straight-Line Winds, Flooding and Tornadoes

Special Relief Following Kentucky Severe Storms, Straight-Line Winds, Flooding and Tornadoes

“This Circular expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by the Kentucky Severe Storms, Straight-Line Winds, Flooding and Tornadoes, and describes measures mortgagees may employ to provide relief. FEMA will continue to update the list of counties impacted on their website here: Mortgage servicers and borrowers alike should review VA’s Guidance on

DYK – Employment Gaps, Credit Pulls, and Shopping Mortgages

A post within our Vetted VA Facebook Group recently outlined this scenario –

I understand that it is valuable to shop around for lenders. My question is more geared toward finding lenders to work with your particular circumstance. In my case, credit and such is fine but I have an employment gap. So I would be also looking for a lender that could figure out if/how to use my current

VA Guidelines – Manual Underwriting

Second Chance

If your lender is unable to get an automated underwriting approval, or if you’ve been turned down with no explanation, it’s possible that it’s your lender, and not you, who is not qualified.

VA manual underwriting guidelines are designed to give an Underwriter guidance and the guidelines for manually underwriting, and approving a loan application.

There are many lenders that simply do not manually underwrite VA loans. When choosing

Refinance After Forbearance Guidelines Released

Refinance or Purchase After Forbearance

May 19th, 2020 – Fannie Mae released an important update to its guidance on the Impact of COVID-19 on Originations:  Temporary eligibility requirements for purchase and refinance transactions.

This was much-anticipated guidance as the prospect of being locked out of traditional financing options for 12 months following a forbearance due to COVID-19 is creating a lot of pressure for lenders

Mortgage Forbearance is NOT Forgiveness – Read This First!

Mortgage Forbearance Fears

As part of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) recently signed into law by the President, forbearance has made the news in a big way.  The CARES Act provides for some additional forbearance protections for homeowners that do not normally exist outside of the COVID-19 pandemic.

Under the CARES act, the servicer of any Federally backed mortgage is

VA IRRRL Guidelines After CARES Act Forbearance

VA IRRRL After Forbearance

The COVID-19 coronavirus pandemic has hit Americans hard. Millions of lives have been abruptly disrupted.

The economy shuddered to a slow roll in a very short period of time, and millions of families are experiencing financial hardship as a result.

Financial hardship is a horrible experience for anyone, and it’s amplified if

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