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| 2000 | | 26-00-8
3/27/2000
| NEW PROCEDURES FOR DISTRIBUTION OF LENDER HANDBOOK CHANGES AND CREATION OF "WHAT'S NEW" SECTION ON THE INTERNET PURPOSE:
- To announce that effective immediately VA will no longer mail out changes to the VA Lender's Handbook. Instead, changes will appear on VA's Loan Guaranty website at http://www.homeloans.va.gov/handbook.htm.
- In addition, Loan Guaranty has created a "What's New" webpage at http://www.homeloans.va.gov/new.htm to keep program participants informed of any changes. Program participants should check this webpage frequently. All updates to the VA Home Loan Program will be posted to this site.
| Change 40
[TEXT] [PDF]
| Change 40 to the Lender's Handbook
2/10/00 - VA Pamphlet 26-7, "VA Lender's Handbook" is being amended to incorporate the following changes effected by Public Law 106-117, signed on November 30, 1999. The law among other things, made some changes dealing with Loan Guaranty issues. One change was the extension of the expiration date of eligibility for persons who completed 6 years in the Selected Reserve. The new expiration date is September 30, 2007. The law also included a provision that reinstates home loan eligibility for eligible surviving spouses whose remarriages have been terminated. In addition, some issues unrelated to the recent legislation are also addressed in this change. | 26-00-3
2/3/2000 | 2000 VA TRAINING BROADCASTS FOR LENDERS AND REAL ESTATE SALES PERSONNEL
PURPOSE: To announce the schedule for the 2000 training broadcasts for lenders and real estate sales personnel. These broadcasts are intended to supplement, but not replace, the training provided on the local level by all stations. | 26-00-2
2/3/2000 | VA APPROVAL OF FANNIE MAE'S "DESKTOP UNDERWRITER FOR VA" AND THE "pmiAURA SYSTEM FOR VA"
PURPOSE: On December 19, 1999, VA approved Fannie Mae's Desktop Underwriter for VA (DU) and the pmiAURA System for VA. DU is Fannie Mae's automated mortgage loan underwriting system. Fannie Mae partnered with PMI Mortgage Services in creating DU for VA. The underwriting engine used by DU for VA is identical to the one used by pmiAURA System for VA. The approval followed a pilot project in which we evaluated the underwriting of a sample of loans processed through the system. That evaluation revealed that the system did provide recommendations consistent with VA credit underwriting guidelines | 26-00-1
1/11/2000 | REINSTATEMENT OF LOAN GUARANTY BENEFITS FOR REMARRIED SURVIVING SPOUSES OF VETERANS UPON TERMINATION OF THEIR REMARRIAGE
PURPOSE: This is to notify all VA Loan Guaranty program participants and Loan Guaranty field personnel that Public Law 106-117, the Veterans' Millennium Health Care and Benefits Act, included a provision that reinstates home loan eligibility for eligible surviving spouses whose remarriages have been terminated |
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