VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 20 — New Construction Sold by the Lender

va-m26-7-ch10-t20

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 20 — New Construction Sold by the Lender.

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Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 20 — New Construction Sold by the Lender — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Pamphlet 26-7, Chapter 10 (Appraisal Process), Topic 20 — New Construction Sold by the Lender

Effective 2019-03-11 · publisher's stamp for this provision

Topic 20. New Construction Sold by the Lender Change Date: March 11, 2019 This Chapter has been revised in its entirety. a. Appraisal Request If a lender acquires title to a newly constructed home due to a builder’s bankruptcy or cessation of business, the lender must order the appraisal as follows: As "existing", not "new", construction, and As "IND", not "LAPP", as properties sold by the lender are not eligible for processing under LAPP. b. Documentation Required The lender must: provide evidence of property ownership, complete any repairs needed for the property to meet VA’s MPRs, obtain a certificate of occupancy from the local authority, and obtain the Veteran’s signed acknowledgement that "This property is being purchased as existing construction from a lender who acquired this new construction property from the builder. There is no warranty and VA will not provide assistance with any construction defects."

Source: VA Pamphlet 26-7, Chapter 10 (Appraisal Process), Topic 20 — New Construction Sold by the Lender · source URL · snapshot 5b740cecba3e0d5a

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Source of record: https://claudeforcompliance.com/regs/va-m26-7-ch10-t20/ · register va-m26-7-ch10-t20 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.