Document Update: Field Change on Interest Rate Reduction Refinancing Loan (IRRRL) Worksheet (Cx5535)

We are making an update to a field on our Interest Rate Reduction Refinancing Loan (IRRRL) Worksheet (Cx5535). Clients can choose to use financed discount points on the IRRRL Worksheet instead of all discount points. This functionality is triggered by setting field 143184 “VA IRRRL Worksheet – Use Financed Discount Points” to ‘Yes’, which would have field 143185 “Financed Discount Points Percent” be used for the “Discount” amount on lines 5 and 11. After some consideration about how clients import financed discount points, we have decided that this financed discount points functionality would be better served if the “Discount” field on lines 5 and 11 was field 189156 “Financed Discount Points As a Percentage of the Loan Amount”, rather than field 143185. Note that this will only impact Cx5535 if 143184 “VA IRRRL Worksheet – Use Financed Discount Points” is set to ‘Yes’.

These changes are available for testing on Stage & Stage 2 servers and will take effect on March 20, 2025. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.

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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third-party should consult with an attorney prior to embarking upon any specific course of action.