The VA has released a notice requesting contact with the VALERI Help Desk in order to verify proper contacts at all servicers to prepare for the transition to VALERI. 

The Department of Veterans Affairs (VA) recently completed a comprehensive change to its Loan Guaranty Program, where virtually all of its loan servicing regulations, processes, and reporting requirements were redesigned. These changes are being implemented through a new servicing system, called the VA Loan Electronic Reporting Interface (VALERI). The new regulations became effective on February 1, 2008, and are being phased in over a ten-month period as the mortgage servicing industry is transitioned to VALERI.

All companies that service VA guaranteed loans will be transitioned to VALERI and will be subject to the new regulations by November 2008.

The VA is requesting that any VA servicer should review the information on the VALERI website at
http://homeloans.va.gov/valeri.htm.

The VA uses this website to communicate regulatory changes, revisions to the servicer guide, the servicer implementation guide, as well as all other VALERI-related information. The website contains a link to an implementation schedule showing when each servicer will be transitioned to VALERI.

In preparation for the VALERI implementation, the VA is requesting each mortgage servicing company to review their implementation date on the VALERI website as soon as possible, and contact the VALERI Helpdesk to provide the name, phone number, and email address for the primary person responsible for overseeing their transition to VALERI.

The VALERI Helpdesk
Phone: 877-309-6947
FAX: 301-294-3654
valerihelpdesk@ccsin.com

To view the notice in its entirety, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio 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 500 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.