The United States Department of Veterans Affairs (VA) has posted on its website at http://www.benefits.va.gov/homeloans/docs/loan_limits_august_2012.pdf a notice of change in the VA maximum guaranty limits for August 6, 2012 to December 31, 2012.
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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
Federal Regulators Issue Joint “Guidance” for Mortgage Servicer Practices impacting Military Homeowners with Permanent Change of Station Orders
On June 21, 2012, The Consumer Financial Protection Bureau, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (herein “regulators”) issued a joint guidance entitled “Interagency Guidance on Mortgage Servicing Practices Concerning Military Homeowners with Permanent Change of Station Orders” (herein Guidance”) to addresses risks related to military homeowners who have informed their loan servicer that they have received Permanent Change of Station (PCS) orders and who might seek assistance with their mortgage loans.
Department of Veterans Affairs Uniform Appraisal Dataset Appraisal Reports
For clients who originate or purchase VA loans, below is the text of the October 21, 2011, VA memorandum by Gloria H. Pointer, Valuation Officer in the Houston Regional Loan Center, announcing the adoption of Uniform Appraisal Dataset (UAD) compliant appraisal reports for VA Loan Guaranty Programs.