DocMagic will be changing the selection logic for the VA Net Tangible Benefit Worksheet for IRRRL loans [Form ID VATNBW.MSC]. This will not affect any current form settings for VA Cash-Out Refinance loans.
Beginning on April 1, 2019, DocMagic will be adding the VA Net Tangible Benefit Worksheet (IRRRL) to Underwriting packages for VA IRRRL loans. Currently the form is available in the Forms List. (see VA Circular 26-18-13)
The form will be provided when the Loan Type is VA, and the Loan Purpose is Streamline Refinance. The form will also be provided when a MISMO indicator of “InterestRateReductionRefinanceLoan” is received.
The change will automatically be applied. If you do not wish to have the VA Net Tangible Benefit Worksheet (IRRRL) added to Underwriting packages for VA IRRRL loans, please contact your customer service representative. If you have any questions, please contact DocMagic’s Compliance Department.
