The VA Regional Loan Center listed below has issued a new information bulletin concerning expenses for preservation of security.

St. Paul Regional Office: St. Paul REGIONAL LOAN CENTER MEMORANDUM NO. 04-05, rescinding RLC Memorandum 03-08.

The new letter contains the following change:

Due to the transfer of property management functions to Ocwen Federal Bank, FSB, VA will no longer reimburse for the reduction or extinguishing of a redemption period.

There are no changes to allowable preservation expenses.

(The new letter does note an increase in the allowable fee for bankruptcy filings, from $75 to $150.) 

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