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Please see the following release from
Denver Regional Office
Department of Veterans Affairs
Date: July 14, 2003
Loan Guaranty Letter 03-08 261-2
Effective August 1, 2003, the Denver Regional Loan Center will
transmit all bidding instruction letters issued to
Holders/Servicers for properties in our jurisdiction via facsimile.
Title requirements for the appropriate State will no longer be
provided with the letter.
Prior to August 1, 2003, our office provided a facsimile copy and
mailed the original bidding instruction letter. We included a copy
of the required title documentation with the mailed bidding
instructions.
Title requirements for all States in our jurisdiction can be
located on our web site at www.vba.va.gov/ro/denver/loan/lgy.htm.
To insure bidding instructions are issued timely, Holders/Servicers
must submit
VA Form 26-567, Statement of Loan Account - Foreclosure or Other
Liquidation, to VA no later than 30 days prior to the foreclosure
sale date. The VAF 26-567 needs to be submitted upon receipt when
you receive written notification from VA that an alternative to
foreclosure is being considered.
All VAF 26-567's that are e-mailed must go to
lgyls&c@vba.va.gov
and not to any individual's e-mail address.
Appraisals must be ordered no later than 45 days prior to the
foreclosure sale.
Upon receipt of written notification from VA
that an alternative to foreclosure is being considered the
appraisal needs to be ordered.
If the property is vacant, Holders/Servicers
must provide access to the appraiser at the time of the appraisal
request. Status of appraisal requests can be tracked via The
Appraisal System (TAS) at https://tas.vba.va.gov.
If You Have Questions
Please contact our Loan Administration office at 1-800-319-9446 for
any questions regarding bidding instructions.
Patricia E. Bolte
Acting Loan Guaranty Officer
Distribution: Holders and Servicers of VA Guaranteed Loans
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