VA notes that it will not require lenders to complete a specific form. Additionally, any information and response to yes/no questions could be answered automatically by the information that the lender is inputting as they underwrite the loan. VA created a sample certification as an example, but this is not a required document or format.
The training estimate was derived from the 2017 Nationwide Mortgage Licensing System & Registry (NMLS) Industry Report showing 158,199 mortgage loan originators and the Ellie Mae Origination Insight Report indicating that VA represents 10 https://onedayloan.net/payday-loans-ut/ percent of the national mortgage market. VA assumes that loan officers will learn about this new disclosure through annual NMLS TRID/TILA training.