WBK Industry News - Federal Regulatory Developments

VA Extends Rescission Date of Circular 36-19-31

VA issued Change 1 to Circular 26-19-31 extending the rescission date from December 31, 2021, to January 1, 2024.  VA Circular 26-19-31 (Circular) provided, among other things,  guidance that explained “…the conditions under which VA permits VA fee panel appraisers to rely on information provided by another person when making appraisals for VA’s home loan guaranty program.” The Circular identified this as the Assisted Appraisal Processing Program (AAPP).