VA revised chapters 1, 4 and 11 of the Lender’s Handbook (M26-7). Chapter 1 has been revised to provide lenders with updated information to assist them in obtaining automatic authority from VA, to encourage lenders with automatic authority to use it to the maximum extent possible and to incorporate all applicable outstanding Circulars. Chapter 4 has been revised to provide updated guidance for credit underwriting, to facilitate electronic processing of loans and to incorporate all applicable outstanding Circulars. Chapter 11 has been revised to provide information about VA appraisal policies, emphasizing the importance of an accurate appraisal in protecting the interests of borrowers, lenders, servicers and VA. The revisions to chapter 4 and 11 are effective May 23, 2019. All other revisions are effective immediately.
Click Here to View the VA Pamphlet 26-7, Revised Change 23
