ÐÏà¡±á > þÿ 3 5 þÿÿÿ 2 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿì¥Á 3 ð¿ ò bjbjöÊöÊ N, ” ” î ÿÿ ÿÿ ÿÿ l " " " " " " " $ F Ô Ô Ô P $ 0 D F t ì € € € € € € € € ó õ õ õ õ õ õ $ ` € J " € € € € € ô " " € € . ô ô ô € " " € " € ó ô € ó ô ˜ ô Œ Ê " " ç € t Íø£*#ÉF Ž Ô ¢ R × ç D 0 t ß Ê ô Ê ç ô F F " " " " Ù Veterans Benefits Administration VA Pamphlet 26-7, Revised Department of Veterans Affairs Change 2 Washington, D.C. 20420 September 28, 2001 To: Lenders and Other Participants in the VA Loan Guaranty Program Subject: Transmittal of Change 2 to VA Pamphlet 26-7, Revised, VA Lender’s Handbook PurposeEnclosed is Change 2 to VA Pamphlet 26-7, Revised, VA Lender’s Handbook, Guaranty of Loans to Veterans. The material that has been added, revised, moved or otherwise changed is highlighted. The Handbook pages affected are: 1-23, 1-48 (material deleted), 3-13 (material deleted), 3-14, 4-8, 4-9, 4-15, 4-16, 4-19, 4-50 through 4-69, 5-16, 6-14 and Appendix A (replaced). ChangesChapter 1 Section 1.07 adds general information on available web based underwriter training. The current address for web based training has also been added. Section 1.14, an incorrect reference to training software has been deleted and a new section on Internet Training has been added incorporating Circular 26-01-03. Chapter 3 Section 3.05 deletes the overseas/remote duty station reference from the spousal occupancy requirement. Occupancy by a spouse can meet the requirement regardless of where the active duty veteran is stationed. Section 3.05 clarifies occupancy issues with respect to deployed active duty service members. Chapter 4 Section 4.02 adds a reference to the new E/MSS (Employee Member Self Service) payroll system which may be used to obtain a verification of employment. Section 4.02 adds reference to income determinations for Reserve and National Guard servicemembers who are subject to mobilization and whose loans are in process or ready to close. Lenders will be required to ascertain whether or not the veteran-applicant is a member of a Reserve or Guard unit subject to mobilization. Section 4.08 adds reference to the importance of Data Integrity on Automated Underwriting cases receiving an “Accept” or “Approve” rating. It notes that inaccurate or unverified data will result in an invalidation of the risk classification. Section 4.08 updates the documentation matrix for Automated Underwriting cases. Section 4.09 establishes a standard figure of 14¢ per square foot for maintenance and utilities costs to be used on the Loan Analysis. Continued on next page Changes (continued)Chapter 5 Section 5.05 updates language on late reporting to clarify that the lender must also certify the loan is current. Chapter 6 Section 6.02 reference to “…application and at time of…” in number 12 has been deleted. Specifies that lender must certify that loan was current at time of closing. Language in number 13 on late reporting has been changed to note that lender must certify loan is current. Appendix A Appendix A is replaced with an updated address and telephone list of the Regional Offices and Loan Centers. Loan AnalysisVA Form 26-6393, Loan Analysis, will be updated in the near future to incorporate these changes. No changes will be made to this form through this change to the Lender’s Handbook. Additional CopiesAdditional copies may be downloaded off the Internet (see section CI.01). Continued on next page VA Lender’s Handbook ChangesVA Pamphlet 26-7, “VA Lender’s Handbook, Revised” is changed as follows: Pages 1-23 and 1-24: Remove these pages and substitute pages 1-23 and 1-24 attached. Pages 1-47 and 1-48: Remove these pages and substitute pages 1-47 and 1-48 attached. Pages 3-13 and 3-14: Remove these pages and substitute pages 3-13 and 3-14 attached. Pages 4-7 through 4-10: Remove these pages and substitute pages 4-7 through 4-10 attached. Pages 4-15 and 4-16: Remove these pages and substitute pages 4-15 and 4-16 attached. Pages 4-19 and 4-20: Remove these pages and substitute pages 4-19 and 4-20 attached. Pages 4-49 through 4-71: Remove these pages and substitute pages 4-49 through 4-69 attached. Pages 5-15 and 5-16: Remove these pages and substitute pages 5-15 and 5-16 attached. Page 6-13 and 6-14: Remove these pages and substitute pages 6-13 and 6-14 attached. Pages A-1 through A-12 Remove these pages and substitute pages A-1 through A-11 attached. Keith Pedigo, Director Loan Guaranty Service ˜ ™ Ý 1 < * : C S ´ ¼ Æ ý Ú Û : D ‘ ’ é & ™ ¥ ¹ Ä Å 1 3 B ø X Ù Ú í q „ £ ¹ 4 G Â Õ V W X o ì ? @ ƒ „ … — Ö × 2 m n ³ ´ · ò ÷ô÷ ñëñëñ çñçñçñçñàñ Þ Þ Þ çñçñçñ ñ ñ ñ Úñëñëñëñëñëñëñëñëñëñëñëñëñëñëñëñëñ × CJ 5CJ 5CJ OJ QJ >*CJ 5>*CJ CJ CJ 5CJ OJ QJ N ; e ˜ ™ Ý 2 4 < ± ² ´ ¼ Æ Ç ú ú ú õ ð õ ç Ý Ó ç Ý { { &F „õ „ÿ¤ $If ^„õ `„ÿD $$If –l 4Ö0 ”ÿTž% Àÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Jÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿö ÖÿÿÿÿÿÿÿÿÖÿÿÿÿÿÿÿÿÖÿÿÿÿÿÿÿÿÖÿÿÿÿÿÿÿÿ4Ö l aö &F $If &F $If &F „¤^„¤ &F &F &F î ñ þþ Ç [ ý þ Û 9 : D E Ý a è ó ó ã × Ã ó ó Ã Ã Ã ó ó ó ó ó &F „» „Eÿ¤ $If ^„» `„Eÿ &F ¤ $If &F „õ ¤ $If ^„õ &