VA Extends Suspension of Certain Property Inspection Requirements for Covid-19 Forbearance Cases

VA Extends Suspension of Certain Property Inspection Requirements for Covid-19 Forbearance Cases

Industry Update
January 25, 2022

Source:  JD Supra

In consideration of the COVID-19 national emergency, VA issued Circular 26-20-21 which temporarily suspended certain property inspections on June 8, 2020.  The requirements to perform property inspections for loans before the 60th day of delinquency were temporarily suspended.  The temporary suspension “…only applies to borrowers whose loans are currently in forbearance and were current or had not yet reached the 60th day of delinquency when borrowers requested a CARES Act forbearance.”

The temporary suspension provisions were extended to October 1, 2022 by VA Circular 26-21-27.

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