UberRealty.com

Jim Whatley
Broker
850.499.2940 
www.UberRealty.com

VA funding fee rates, including rates for loans closed on or after November 18, 2011.

As noted in the circular, absent Congressional action, funding fees for most loans will

decrease on November 18, 2011. A subsequent circular,

October 13, 2011, provided guidance for refunds of overages paid when a Good Faith

Estimate was issued prior to the enactment of the law reestablishing rates at a higher

level. The circular also noted that VA believed it likely that Congress would make

additional changes to funding fees in the near future.

3. Possibility of Congressional Action. VA believes it is highly likely that

Congress will pass a bill keeping funding fees at their present level. If a bill is passed

and signed into law, the funding fees will not decrease as scheduled on November 18,

2011. VA is closely monitoring the situation and will post notices on our website and

Funding Fee Payment System page, as well as issue a circular, as soon as we receive

definite information.

4. Lender and VA Actions. VA understands lenders cannot issue a Good Faith

Estimate based on what a funding fee rate “might” be going forward. However, we

feel it is important to alert lenders of the strong possibility of impending action by

Congress on this issue. Furthermore, the refund procedures described in VA Circular

26-11-16 will not automatically carry over for future changes. VA will evaluate the

situation when the law does change and decide what action to take. We hope this

advance notice will allow lenders to make the appropriate decisions. We regret the

series of changes to funding fees in a relatively short period of time, and appreciate

the flexibility lenders have shown in dealing with this matter.

Circular 26-11-17 November 4, 2011

5. Rescission: This circular is rescinded on October, 1, 2012.

By Direction of the Under Secretary for

Benefits

Michael J. Frueh

Acting Director, Loan Guaranty Service

Distribution: CO: RPC 2021

SS (26A1) FLD: VBAFS, 1 each (Reproduce and distribute based on RPC 2021)

Jim Whatley
Broker
850.499.2940 
www.UberRealty.com

Jim Whatley
Broker
850.499.2940 
www.UberRealty.com

Sent from my Uber iPhone

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