VALERI Servicer Newsflash
Investor Update
April 18, 2018
Source: VA
IMPORTANT INFORMATION
VA Title Training – VA’s Property Management contractor, Vendor Resource Management (VRM), has developed a VA Title training module for loan servicers. To obtain access to the training, servicers must complete and submit the training request form (Exhibit A) to VRM. To maintain a level of efficiency, servicers are strongly encouraged to compile and submit as few forms as possible rather than submitting one form per person. Upon completion, please email the spreadsheet to: training@vrmco.com. VRM will register the users, email login credentials, and assign the course. Users will normally have access to the course in less than 48 business hours. If there are any questions, please feel free to contact training@vrmco.com.
Appraisal Fees – VALERI enhancement CQ 12670, completed on March 17, 2018, added functionality to the VALERI Fee Cost Schedule to include maximum allowable fees at the county level. Therefore, appraisal fees in higher cost counties no longer require appeals. The changes are reflected on the VALERI Fee Cost Schedule, which is located at http://www.benefits.va.gov/HOMELOANS/servicers_valeri_rules.asp.
Circular 26-15-18, Change 2, Paid in Full Notification of Loans Guaranteed for Repurchase Under the Provisions of 38 C.F.R. 36.4600 (VA Regulation 4600 Loans), was issued on March 20, 2018, and is located on the VALERI internet at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.
Pre-Approval Requests – Servicers may request to deviate from a VA Regulation more than once if circumstances change during the life of the loan. If there is a need to deviate from multiple regulations, servicers should submit all deviations in a single pre-approval request. It is the servicer’s responsibility to adhere to all other regulatory requirements and ensure all actions are in the best interest of the Veteran and Government (VA Servicer Handbook M26-4, Chapter 6).
