WBK Industry News - Federal Regulatory Developments

VA Issues Guidance Concerning Appraisals During COVID-19

On March 27, 2020, the VA issued Circular 26-20-11 to provide guidance on conducting appraisals for VA home loans during the COVID-19 pandemic.  Under certain conditions outlined in this Circular, “valuations may come in a form of an Exterior-Only appraisal with enhanced assignment conditions or in limited instances, a Desktop appraisal.”     

These policy changes shall remain in effect until further notice or the Circular is rescinded. VA Circular 26-20-11 is available here.