VA Circular 26-20-20

Veterans Benefits Administration sent this bulletin at 06/02/2020 12:36 PM EDT

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Greetings,

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

Circular 26-20-20: Index for Adjustable-Rate Mortgage (ARM) Products

Purpose: The purpose of this Circular is to remind lenders of Department of Veterans Affairs (VA) regulations establishing the Constant Maturity Treasury (CMT) rate as the only approved index for Adjustable Rate Mortgage (ARM) products, as codified at 38 CFR 36.4312(d)(1), and to supplement the VA Lenders Handbook, M26-7, Chapter 7 to reflect this guidance.

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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