VA issued Circular 26-23-10, Change 1, providing additional information regarding fees that may be charged to and paid by a person assuming a VA-guaranteed loan (assumer). Per the Circular, a lender or servicer may now charge an assumption processing fee not to exceed $300 (previously, $300 on assumptions processed by lenders or servicers with automatic authority, or $250 on assumptions that required VA prior approval.). VA also clarified that fees and charges not expressly permitted in the Circular may not be charged to or paid by the assumer. In addition, VA replaced sections of the original Circular referencing VA’s Outlook-based email address “LGY.LPNATIONAL@va.gov” with “https://yourit.va.gov/csm?id=rlc_pathfinder” as VA has transitioned to a ServiceNow portal. The Circular went into effect February 23, 2024.
Click to view the VA Circular 26-23-10, Change 1: https://www.tenaco.com/wp-content/uploads/2024/02/VA-Circular-26-23-10-Change-1-02-27-24.pdf
