2012 VA Circulars

Circular 26-12-12 – December 13, 2012 – 2013 Department of Veterans Affairs (VA) Loan Limits

  • VA announces 2013 county loan limits.

Circular 26-12-9 – Public Law 112-154 – Public Law 112-154 Honoring America’s Veterans and Caring for Camp Lejeune’s Families Act of 2012

  • This particular Circular discusses several provisions pertaining to the Department of Veterans Affairs (VA) Loan Guaranty Program that were included in the Act.

Circular 26-12-10 – Hurricane Sandy Relief – November 1, 2012: Special Relief Following Hurricane Sandy

  • This Circular expresses concern surrounding VA home loan borrowers affected by Hurricane Sandy; circular also describes measures mortgagees may employ to provide relief.

Circular 26-12-5 – Change 1 – October 22, 2012: New VA Property Management and Servicing Contractor

  • Department of Veterans Affairs (VA) adds an additional paragraph to provide clarification on the address to be used for special warranty deeds conveying properties to the VA.

Circular 26-11-4 – Change 1 – October 3, 2012: Uniform Appraisal Dataset (UAD)

  • Department of Veterans Affairs (VA) updates the instructions on the policy concerning the “Borrower” field for VA liquidation reports.

Circular 26-12-8 – October 2, 2012: Annual Increase in Construction Cost Index and Specially Adapted Housing Grants

  • Department of Veterans Affairs (VA) announces that the Specially Adopted Housing grant amounts will increase.
  • In order to match the Turner cost of construction increase of 1.85 percent, the maximum grant amounts for Veterans and Servicemembers eligible for housing assistance under Title 38 U.S.C., Section 2101(a) and 2101(b) has been increased.

Circular 26-11-3 – Change 1 – August 24, 2012: Service Members Civil Relief Act

  • Department of Veterans Affairs (VA) implements new update on Service Members Civil Relief Act.
  • This change adds an additional paragraph to remind servicers to stay alert to potential changes to this law; also renumbers two paragraphs, and extends the applicability of the circular.

Circular 26-11-3 – August 24, 2012: Service Members Civil Relief Act

  • Department of Veterans Affairs reminds servicers to stay alert to potential changes to law, and extends the applicability of the circular.

Circular 26-12-7 – August 8, 2012: Maximum Guaranty for Loans Closed August 6, 2012 to December 31, 2012

  • Department of Veterans Affairs (VA) signed The Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012 into law August 6, 2012.
  • Effective with the signing of this bill, a method previously used to derive VA loan limits has been restored and will be in effect through December 31, 2014.
  • Updated loan limits for loans closed on or after August 6, 2012 through December 31, 2012, have been posted at http://www.benefits.va.gov/homeloans/loan_limits.asp

Circular 26-12-6 – July 6, 2012: Credit Policy Updates

  • Announces several policy updates and clarifications to Department of Veterans Affairs (VA) Verification of Employment (VOE) guidelines.

Circular 26-12-5 – July 5, 2012: New VA Property Management and Servicing Contractor

  • Provides detail for transferring VA property management (REO) and portfolio loan servicing contracts for the VA home loan guaranty program to Vendor Resource Management (VRM).

Circular 26-10-6 – Change 1 – July 5, 2012: Revised VA Making Home Affordable Program

  • Updates instructions for modifying Department of Veteran Affairs (VA) guaranteed home loans in accordance with Treasury Supplemental Directives issued since the circular was published.
  • Changes include clarification concerning occupancy status, updating a reference to another VA circular concerning guidance on approval procedures, and extending the applicability of the circular.

Circular 26-12-1 – January 25, 2012: 2012 Department of Veterans Affairs Loan Limits

  • Announces that 2012 county loan limits have been posted, and have declined due to market conditions.
  • Provides information that there is no maximum VA loan, meaning that lenders can make VA loans in excess of county loan limit.
  • VA guaranty will be limited to 25 percent of the county loan limit.

Circular 26-09-15 – January 18, 2012: Processing Requests for Execution of Quitclaim Deeds

  • Extends the rescission date of the basic circular regarding the VA’s position on this procedure.

Circular 26-09-12 – January 18, 2012: Property Preservation Requirements and Fees

  • Extends the rescission date of the basic circular regarding the VA’s position on this procedure.

Circular 26-08-5 – January 9, 2012: Expansion of the Types of Ownership Interests Permissible Under the Specially Adapted Housing (SAH) Grant Program

  • Extends the rescission date of the basic circular regarding the VA’s position on this procedure.

Circular 26-09-4 – January 6, 2012: Market Conditions Addendum to VA Appraisal

  • Extends the rescission date of the basic circular regarding the VA’s position on this procedure.

Circular 26-09-3 – January 6, 2012: Agreement of Sale/Sales Contract to be Provided to the Fee Appraiser

  • Extends the rescission date of the basic circular regarding the VA’s position on this procedure.