On February 12, 2021, the Department of Veterans Affairs (VA) published VA Circular 26-21-03 to announce enhancements to the Certification of Eligibility (COE) for VA’s home loan guaranty program. The changes will eliminate the need for a lender to submit a Verification of VA Benefits, VA Form 26-8937, to verify a Veteran’s receipt of income for most loans.
Effective March 19, 2021, lenders will no longer need to submit the Verification of VA Benefits form when the COE already includes information a lender would need to verify, such as monthly service-connected disability income, or a non-service connected pension. If a lender submits the VA Form 26-8937 to verify a Veteran’s receipt of income when the information is already listed on the COE, the VA will not process the form. In limited cases where a COE states that VA Form 26-8937 must be submitted, the VA expects lenders to upload the form to WebLGY, as it will no longer be processed via fax after the effective date.
Accordingly, DocMagic will be removing the Verification of VA Benefits (Form ID: 268937.VA) from initial packages beginning on March 19, 2021 but will make the form available to select from the forms list as needed.
