The following warning is currently displayed for VA loans when the funding fee percent is empty and the field “How VAFF/PMI/MIP is Paid” is not set to “Exempt”:
“The Department of Veterans Affairs (VA) Funding Fee does not have a value. Please enter this information if a VA Funding Fee is required on this loan.”
This data integrity check will now evaluate after the “Complete Data” screen instead of the “Loan Program” screen to allow ConformX to better recognize when the field “PMI/MIP/VA Funding Financed Premium Percent” has not been set on the loan.
This change will take effect on February 21, 2014. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
February 14, 2014