On December 17, 2018 the Department of Veterans Affairs (“VA)” published VA Circ. 26-18-30 and an interim final rule in the Federal Register (83 FR 64459 ) implementing some of the requirements recently passed under the “Economic Growth, Regulatory Relief, and Consumer Protection Act”. These rules govern the criteria that “Type I” and “Type II” cash-out refinance loans must meet to comply with the “net tangible benefit” rules enacted in 38 USCA § 3709. The effective date of this interim rule is February 15, 2019 and comments on this rule may be submitted until such date.
We are currently reviewing this change to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (https://compliance.docutech.com/).