WBK Industry News - Federal Regulatory Developments

VA Addresses Appraisal Requests Without the COE

Circular 26-19-12 announced that the VA will no longer allow appraisals to be requested through WebLGY prior to ordering a COE. 

As of the date of the circular (May 16, 2019), all individual (IND) cases and Lender Appraisal Processing Program (LAPP) must have a COE in the “Active or Pending” status before an appraisal can be requested. 

The Loan Guaranty Service, or the VA Regional Loan Center of jurisdiction, on a case-by-case basis, can authorize a waiver to allow appraisals to be requested through WebLGY.