The VA allows a veteran to use an attorney-in-fact (title of person acting under the authority granted by a power of attorney) to execute any documents necessary to obtain a VA-guaranteed loan. This enables active duty service persons stationed overseas, and other veterans who cannot be present to execute loan documents, to obtain VA loans.
VA Lender’s Handbook, Chapter 9, 7(b) under Powers of Attorney, states:
“In addition, at the time of loan closing, the lender must:
- verify that the veteran is alive, and, if on active military duty, not missing in action (MIA), and;
- make the following certification:
‘The undersigned lender certifies that written evidence in the form of correspondence from the veteran or, if on active military duty, statement of his or her commanding officer (including statement of person authorized to act for said officer), affirmatively indicating that the veteran was alive and, if the veteran is on active military duty, not missing in action status on (date), was examined by the undersigned and that the said date is subsequent to the date the note and security instruments were executed on the veteran’s behalf by the attorney-in-fact.’”
Docutech’s Lender’s Certification of Veteran Alive at Time of Closing (Cx16760) will now print generically in VA Closing document packages if there is a power of attorney enabled for the veteran (i.e. first borrower).
Two new fields are available to populate the appropriate information on the document:
- Veteran Alive and Well Evidence Date (Field 111186)
- Veteran Alive and Well Evidence Type (Field 111187)
The form can also be filled out by hand when the lender signs the form.
These document changes will be in effect on June 23, 2017. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.