VA Circular 26-20-17: New Reason for Default for those Affected by COVID-19

Veterans Benefits Administration sent this bulletin at 05/06/2020 10:20 AM EDT

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Greetings,

The purpose of this communication is to announce that Circular 26-20-17 has been published.

Circular 26-20-17: New Reason for Default for those Affected by COVID-19

Background and Purpose. On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), Public Law 116-136. The CARES Act protects borrowers with Federally backed mortgage loans who are experiencing financial hardship due to the COVID-19 national emergency. The related protections are outlined in VA Circular 26-20-12. The purpose of this Circular is to announce a new Reason for Default (RFD) to help the Department of Veterans Affairs (VA) identify borrowers affected by COVID-19.

This Circular has been posted to the following URL: https://www.benefits.va.gov/HOMELOANS/resources_circulars.asp

Sincerely,
Loan Guaranty Service

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