VA issued Circular 26-18-7 (Circular), amending requirements with respect to construction loans. Per the Circular, VA has received inquiries regarding the procedures to process construction loans. Although VA currently offers lenders the ability to originate new construction loans, the brevity of VA guidance has kept many lenders from offering the product. The Circular sets forth the general process lenders must follow when processing a construction. The amended policy is effective immediately.
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
