Information Bulletin No. 26-08-12 discusses the reporting requirements for a loan guaranteed by the Department of Veterans Affairs (VA) that is satisfied by payment or otherwise.

When guaranty is evidenced by a Loan Guaranty Certificate (VA Form 26-1899 or electronic Loan Guaranty Certificate), the Certificate should be endorsed “Paid in Full,” dated, signed by an authorized officer of the holder, and returned to VA.  An official stamped facsimile signature or symbol is also acceptable.

In cases where the guaranty is evidenced by a VA endorsement of the note or other evidence of indebtedness, the endorsement should be cancelled and VA notified.

Investors, or other servicing agents, should report the payment in full of Vendee Loans purchased from VA.  Notification should be in letter form showing the VA loan number (SH prefix), name(s) of obligors(s), property address and date paid in full.

The VA requests  that mortgagees/servicers review their respective portfolios to determine that all “Paid in Full” loans under the Phoenix RLC  jurisdiction (Arizona, Nevada, California, and New Mexico) have been reported to the Phoenix RLC.  The VA further requests continued cooperation in ensuring that future “Paid in Fulls” are reported promptly.

To view the Information Bulletin in its entirety, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, OH  and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 450 employees.  Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico