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#1741504 - 09/17/12 09:17 PM Clarification on Permanent Change Orders
Compliance Lover Offline
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Does the interagency guidance that came out in June 2012 on military homeowners with PCS orders only pertain to FHA, VA, or other government loans? (We don't offer those loans). If it applies to a conventional loan, then what information are we supposed to provide to them? The letter just states you should inform them of available assistance options such as Making Home Affordable Program but that looks to me like it would only pertain to government loans.

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#1741605 - 09/18/12 01:42 PM Re: Clarification on Permanent Change Orders Compliance Lover
E.E.G.B Offline
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In the webinar on this topic last week they said it applies to *all* loans. There are some private lenders participating in the Making Home Affordable programs.
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#1741608 - 09/18/12 01:46 PM Re: Clarification on Permanent Change Orders Compliance Lover
Andy_Z Offline
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I read that guidance as listing some examples and emphasizing GSE type loans that have specific assistance programs. When receiving PCS orders some lenders apparently tell the owner they have to sell, or can't rent, etc.

I haven't seen a major list of programs but slice and dice the guidance and see what is available in your area. Not giving mis-information is a key as well.
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