The VA has released Circular 26-08-13 titled, "Reporting Paid in Full Loans", describing  the procedures for reporting paid-in-full loans to VA upon full satisfaction of the loan by payment or otherwise.

Reporting Paid-in-Full Loans:  Prior to the roll-out of VA Loan Electronic Reporting Interface (VALERI), lenders or servicers were required to sign and date the Loan Guaranty Certificate (LGC) when the loan was paid-in-full and submit it to VA.  Under the new environment, holders of VA-guaranteed loans are required to electronically report the date the loan was paid-in-full in the VALERI system. 

Elimination of Requirement to Mail in LGCs:  Effective immediately, lenders/servicers are not required to mail LGCs to VA when a loan is terminated.  Since this information will now be reported via VALERI, there is no longer a need to have the actual LGC returned to VA upon termination of the loan. 

To view the Circular 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.