VA Circular 26-14-1 Change 1 Lender Compliance with Consumer Financial Protection Bureau Requirements for Ability to Repay and Qualified Mortgage Rule
On January 22, the U.S. Department of Veterans Affairs (VA) issued Circular 26-14-1 Change 1, subtitled Lender Compliance with Consumer Financial Protection Bureau Requirements for Ability to Repay and Qualified Mortgage Rule.
Veterans Benefits Administration Circular 26-14-1
Department of Veterans Affairs Change 1
Washington, D.C. 20420
Lender Compliance with Consumer Financial Protection Bureau Requirements for Ability to Repay and Qualified Mortgage Rule
1. Purpose. The purpose of this Circular is to extend the rescission date of the basic Circular so that stations continue to provide guidance on VA’s position as it relates to these procedures.
2. Therefore, Circular 26-14-1, is changed as follows:
Page 1, paragraph 4: Delete “January 1, 2015.” and insert “January 1, 2016.”
By Direction of the Under Secretary for Benefits
Michael J. Frueh
Director, Loan Guaranty Service
Please click here to view the online circular.
Link to Circular 26-14-1.
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow. Website: www.safeguardproperties.com.