VA Circular 26-13-29 Mandatory Electronic Delivery of Loan Files
On December 26, the Department of Veterans Affairs (VA) released Circular 26-13-29, subtitled Mandatory Electronic Delivery of Loan Files.
Mandatory Electronic Delivery of Loan Files
1. Purpose. This Circular announces that the Department of Veterans Affairs (VA) will require the electronic submission of home loan files selected for full file loan review, effective January 1, 2014.
2. Background. Currently, lenders can submit home loan files selected for review by Loan Guaranty Service (LGY) through either electronic upload or in hard copy form. Effective January 1, 2014, LGY will require the electronic uploading of these loan files, pursuant to 38 CFR 36.4333.
3. Training. LGY also wants to remind stakeholders of electronic file upload training available at: http://www.benefits.va.gov/homeloans/weblgy_stakeholders.asp.
4. Rescission: This Circular is rescinded January 1, 2015.
By Direction of the Under Secretary for Benefits
Michael J. Frueh
Loan Guaranty Service
Please click here to view the online circular.
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally. Website: www.safeguardproperties.com.