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Greetings,
Today, the Department of Veterans Affairs (VA) Loan Guaranty Service has published the Pre-Close Application Programming Interface (API) on our website and released a beta version of the API to VA’s testing environment, known as the Partner Integration (PINT) environment. This version will cover pre-close feedback on single and two borrower purchase loans; updated releases are expected to cover multiple borrower purchases, Interest Rate Reduction Refinancing Loans (IRRRLs) and Cash-out Refinance loans.
This is the second API in our Loan Origination Transformation initiative, following the Loan Review API. Loan Origination System (LOS) providers and lenders can begin integrating with this new capability, which will enable lenders to submit loan data before closing and obtain feedback on the funding fee amount and VA policy conformance without leaving their LOS.
For more information on integrating with the Pre-Close API, and how this transformation will benefit you, here are some helpful links:
Lenders who use an LOS provided by third-party technology providers should engage those providers in discussions regarding upgrades to their proprietary systems. Lenders and LOS providers are encouraged to collaborate with us when implementing the Pre-Close API.
LGY will be publishing the API to the PINT environment next. This API will evaluate the final closing disclosure for a closed loan against statutory and regulatory requirements, calculate the funding fee amount owed to VA, remit the funding fee owed to VA, and return the Loan Guaranty Certificate.
All questions regarding the Pre-Close or Loan Review APIs, or related technical support, should be submitted by creating a ticket on our Technology Knowledge Center website (https://www.benefits.va.gov/HOMELOANS/technology-knowledge-center.asp). Stay tuned to the Technology Knowledge Center for additional announcements, videos and specifications regarding modernization.
Sincerely,
Loan Guaranty Service
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