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#1687668 - 04/10/12 09:48 PM Veteran and Separated Spouse
hgliii Offline
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Joined: Mar 2012
Posts: 574
I have a Veteran Applicant, who has indicated he is separated from spouse and does not intent to divorce in forseeable future. Do I treat it as a Vet and nonveteran joint loan or Vet and spouse? State requires spouse to be on title, but can waive dower at closing.

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#1687939 - 04/11/12 05:37 PM Re: Veteran and Separated Spouse hgliii
Andy_Z Offline
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Andy_Z
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From a JWNDAA and SCRA perspective I only remember a black and white test, spouse, not spouse. You said it, "separated from spouse".
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AndyZ CRCM
My opinions are not necessarily my employers.
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#1687984 - 04/11/12 06:51 PM Re: Veteran and Separated Spouse hgliii
hgliii Offline
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Joined: Mar 2012
Posts: 574
Yes, the vet is separated and wrote an explanation that he did not intend to file for divorce in the near future. Our issue is state (not community property) law requires spouse to take title and sign DoT. Way back in the day, VA would decline that arrangement to protect the Vet Benefits from divorce.

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#1688104 - 04/11/12 09:45 PM Re: Veteran and Separated Spouse hgliii
Andy_Z Offline
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Andy_Z
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When you say vet, as in no longer in service? That could negate JWNDAA and SCRA and leave you with VA underwriting requirements.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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