VA revised chapters 2, 4, 5, 7, 8, 14, 15, 18, 21 and Appendix B, E, G, and H of the Servicer Handbook (M26-4). Pursuant to the revisions, VA: corrected the timeframe for reporting a bankruptcy; added a definition for delinquency and reinstatement; clarified current policy with respect to household income; added information with respect to the new VA Affordable Modification; clarified current policy with respect to the payment of incentives prior to loan termination or paid in full; amended information with respect to utility advances; updated the documents required for post-audit review: clarified when a servicer is deemed to have failed to timely order an appraisal; amended information with respect to National Guard members who may become active during a disaster; clarified requirements with respect to reporting the Electronic Default Notification (EDN) when there is damage to a property; added guidance with respect to damaged properties; updated the website for the Texas Veteran Land Board; amended information regarding redemption changes in Montana, Utah and North Dakota; removed the waste management receipt requirement for hazardous debris removal. The revisions were issued on February 1, 2018.
Click here to view the VA Transmittal of Change 7 to M26-4, Servicer Handbook
