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Modified Guaranty Submission Procedure

(Lender's Handbook, paragraph 8.08)

Lenders must submit the items listed below when requesting issuance of a Loan Guaranty Certificate from VA:

 VA Form 26-0286, Loan Summary Sheet.

 

 Original VA Certificate of Eligibility, if not previously submitted in connection with a prior approval loan application.

 

 Evidence of payment of funding fee.

 

 Evidence of Value.

 

 VA Form 26-1820, Report and Certification of Loan Disbursement.

 HUD-1, Settlement Statement.

 

 Name and mailing address of lender to be used by VA when requesting file for full review or post audit. (Include email address of lender, if available.)

VA field stations may, at their discretion, terminate a lender's participation in this modified guaranty submission procedure if that lender demonstrates an ongoing inability or unwillingness to be timely in responding to requests from VA.

ELECTRONIC GUARANTY PROCEDURES

Lenders may now submit closed loans for electronic guaranty using VA’s webLGY program. WebLGY is found under Applications in the VA Portal. Since electronic guaranty cannot be issued until VA has recorded receipt of the funding fee from the FFPS system, lenders should wait at least 3 days after submitting the funding fee before logging on to webLGY to request electronic guaranty. Data entered in FFPS and the TAS (appraisal) program auto fills many fields in webLGY so lenders must ensure that data in FFPS and TAS is correct before using webLGY to obtain the guaranty. Lenders are advised to note that if there is an AUDIT: "YES" on the Loan Status and History screen, the full loan package must be submitted to the RLC within 15 days for a full review of the loan.