VA Circular 26-14-9 Mandatory Stacking Order for VA Loan Review
On March 27, the Department of Veterans Affairs (VA) issued Circular 26-14-9 subtitled VA Loan Full File Loan Review – File Upload Stacking Order.
VA Loan Full File Loan Review – File Upload Stacking Order
1. Purpose. This Circular announces the Department of Veterans Affairs (VA) new mandatory stacking order for files selected for VA full file loan review, effective May 1, 2014.
2. Background. Currently, VA’s full file loan review process permits lenders to upload selected loan files to WebLGY for review without regard to document order or document type. Establishing a stacking order, which only permits uploading of VA-required documents, reduces upload time for lenders and audit times for VA. This new stacking order follows the Federal Housing Administration’s current stacking order.
3. New VA Loan Review Stacking Order. A new mandatory stacking order has been established for purchases/cash-out refinances and interest rate reduction refinance loans (IRRRLs). The new stacking order for purchase/cash-out refinance loans is attached in Exhibit A, and the new stacking order for IRRRLs is in Exhibit B.
4. Rescission: This Circular is rescinded January 1, 2015.
By Direction of the Under Secretary for Benefits
Michael J. Frueh
Director 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.