VA issued Circular 26-17-12, clarifying and establishing requirements with respect to completion of VA Form 26-8923 (Interest Rate Reduction Refinancing Loan Worksheet). The requirements clarify and establish VA policy with respect to: line 1 (amount of the existing loan balance allowable); line 2 (principal reduction from veteran); line 5 (maximum allowable discount points); lines 8 and 11 (maximum allowable closing costs); and line 18 (maximum loan amount). The requirements are effective for all Interest Rate Reduction Refinance Loan applications originated (initial Fannie Mae Form 1003 application date) on or after July 2, 2017.
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
