VA Updates Lender, Valuation Guidance for Borrowers Affected by COVID-19
The U.S. Department of Veterans Affairs (VA) today issued guidance for VA home loan borrowers affected by COVID-19 and describes temporary measures regarding loan origination, closing and guaranty.
The guidance can be found here.
The VA also issued separate guidance regarding valuation practices during the pandemic, specifically as it relates to the appraisal process.
The VA will change the long-standing practice of requiring access to the interior of the home for certain types of loans. Valuations may come in the form of an exterior-only appraisal with enhanced assignment conditions or in limited instances, a desktop appraisal.
These procedures are temporary and the VA will return to normal operations after the national emergency.
For more information, contact Curtis Milton at 800-368-5242 x8597.
Latest from NAHBNow
Student Chapters | Workforce Development
Jul 25, 2025
NAHB's Student Chapters Helped Give Her Confidence to Pivot CareersZhetique Gunn's early exposure to building and problem-solving has led to national recognition and a city-level impact as an urban planner in Washington, D.C.
Jul 24, 2025
Federal Court Upholds New York State Gas BanThe federal court for the Northern District of New York on July 23 upheld New York state’s “gas ban” legislation. New York’s legislation is the first statewide law that restricts natural gas use in new buildings, effectively banning gas stoves and other fossil fuel appliances in most new construction starting in 2026.
Latest Economic News
Economics
Jul 25, 2025
Market Share of 5,000+ Square Foot New Homes Started Declines in 2024In 2024, there were 24,000 homes that exceeded 5,000 square feet, equating to a 2.3% market share of all new homes started. Both the number and market share for 5,000+ square foot homes experienced declines from 2023, according to the annual data from the Census Bureau’s Survey of Construction (SOC).
Economics
Jul 24, 2025
New Home Sales Hold Steady at a Relatively Tepid LevelChallenging affordability conditions, elevated interest rates and economic uncertainty continue to act as headwinds on the housing sector as many potential buyers continue to stay on the sidelines.
Economics
Jul 23, 2025
Existing Home Sales Retreat to 9-Month LowExisting home sales fell to 9-month low in June as home prices hit another monthly record high, according to the National Association of Realtors (NAR). Sluggish pace of sales suggest that higher mortgage rates and elevated home prices are continuing to sideline buyers, despite improved inventory conditions.