Bulletin W13-069 – Underwriting Policy

July 8, 2013Bulletins

Topic included in Bulletin W13-069:

  • VA IRRRL Ordering Procedures provides instructions on how to order Automated Valuation Module (AVM) on VA IRRRL loans that require an AVM
  • CMS requires an AVM to be generated on every IRRRL with a loan amount <$417,000
  • ValuePoint4 (VP4) product from CoreLogic is the only CMS approved AVM option
  • CMS will rely on the value as stated on the VP4 for qualification purposes
  • Directions provided in procedure in the event that the VP4 shows “not available in this county” or “failure”
  • CMS will no longer be responsible for ordering the 2055 on behalf of the Broker
  • Procedure published on the Intranet

Download: Bulletin – W13-069 (PDF)

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