Our latest mortgage POS software v3.03.4 has been released with enhancements, including an implementation update to the VA loan funding fee. Effective April 7, 2023, our system will automatically calculate the VA funding fee amount based on the new update, saving lenders from manual calculations. Our flexible and adaptable software will continue to use the current calculation method for loans originated before April 7, 2023. We have also included references to the official VA announcement and Exhibits A and B to assist in understanding the changes.
We remain committed to improving our software and providing the best possible experience for our users. Thank you for your continued support and feedback as we strive to make our mortgage POS software the leading platform in the industry.
References:
1. U.S. Department of Veterans Affairs. “Funding Fee Charge Update.” VA Circular 26-23-06. February 14, 2023. https://www.benefits.va.gov/HOMELOANS/documents/circulars/26-23-06.pdf.
2. U.S. Department of Veterans Affairs. “Exhibit A to VA Circular 26-23-06.” February 14, 2023. https://www.benefits.va.gov/HOMELOANS/documents/circulars/26-23-06-exhibita.pdf.
3. U.S. Department of Veterans Affairs. “Exhibit B to VA Circular 26-23-06.” February 14, 2023. https://www.benefits.va.gov/HOMELOANS/documents/circulars/26-23-06-exhibitb.pdf.
