VA Asks Public How They Should Ask Veterans Questions
Published Date: 1/16/2025
Notice
Summary
The VA is updating a form that helps lenders and the VA check veterans’ benefits info quickly and clearly. Veterans and lenders will be affected by this change, which aims to make the process easier and less time-consuming. You’ve got until March 17, 2025, to share your thoughts on these updates—no cost changes, just smoother paperwork!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
VA revises benefits verification form
The VA is revising VA Form 26-8937 (OMB Control No. 2900-0406) to make verification of veterans' benefits quicker and clearer for veterans and lenders. The change is described as reducing time and paperwork and standardizing the information lenders request.
Form can show funding-fee exemption before closing
VA Form 26-8937 is sometimes used to inform a lender before loan closing whether a veteran is eligible for an exemption from the VA funding fee. That information is provided to lenders as part of the verification process.
One-time paperwork time burden estimate
The VA estimates this one-time information collection will involve about 3,000 respondents, with an average of 5 minutes per respondent and an estimated annual burden of 250 hours. Comments on the collection are due March 17, 2025.
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