The VA Loan Processing Remarks feedback messages will identify data that either appears to be inconsistent or to contain errors. The feedback messages also identify any additional underwriting steps required to support the transaction. These messages appear on the Feedback Certificate in the Loan Processing Information section, Loan Processing Remarks subsection.
Updated: November 2011
VA Loan Processing Remarks Feedback Messages
If credit report shows a contingent mortgage debt, obtain transfer of title and assumption or divorce agreement and do not count debt in borrower's ratios.
If individual federal income tax returns for self-employed borrower show increasing self-employed income for past 2 years and the file includes documentation stating (a) funds required to close do not come from business accounts and (b) the borrower has been self-employed in the same business for at least 5 years, no business tax returns are required.
Not on Active Duty: W-2(s) for most recent tax year are not required if current employer confirms 1 year history, only base pay is used to qualify and borrower signs IRS Form 8821/4506.
Not on Active Duty: W-2(s) are not required, if current employer confirms 2 year history, only base pay is used to qualify and borrower signs IRS Form 8821/4506.
If a mortgage or significant debt is past due on credit report and has not been updated in 90 days, re-verify to determine current status. Downgrade to REFER if rating is currently greater than 90 days past due.
If a mortgage or significant debt is past due on credit report and has not been updated in 90 days, re-verify to determine current status.
If a rental reference does not appear on credit report, obtain most recent 12 month rental history.
If a mortgage debt does not appear on credit report, obtain most recent 12 month payment history.
If the credit report indicates that an inquiry has been made within the previous 90-day period, determine whether additional credit was granted. A letter from the creditor or a signed statement from the borrower may be used to determine whether additional credit was obtained.
Obtain explanation for derogatory credit.
If applicable, judgments must be paid in full or subject to a repayment plan with a history of timely payments.
Include all debts on credit report, alimony, child support, separate maintenance, negative rent, mortgage debt, installment debt paid through payroll deduction and significant debt (payment greater than 2% of gross monthly income) in ratios.
If CAIVRS authorization shows a Federal Delinquency/Lien, resubmit.
If you determine a significant inaccuracy on in-file credit report, downgrade to REFER and order RMCR, merged credit report or third party documentation to clarify.
If you determine a significant inaccuracy on in-file credit report, order RMCR, merged credit report or third party documentation to clarify.
VA Automatic Underwriter signature is not required on Loan Analysis Form 6393, unless loan is downgraded to REFER or CAIVRS shows a Federal Delinquency/Lien. Submit data integrity certification signed by mortgagee's representative. VA-approved Automatic Lender must submit this loan for VA guaranty.
VA Automatic Underwriter signature required on Loan Analysis Form 6393 for this loan. VA-approved Automatic Lender must submit this loan for VA guaranty.
Standard forms of documentation (such as written VOE, VOD, income information obtained directly from IRS or VA-approved electronic verification service) may be used as addressed in the VA Lender's Handbook.