source:
  type: guide
  id: va-m26-7-ch01-t15
  authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 1, Topic 15 — Application
    Checklist for Authority to Close Loans on an
  description: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 1, Topic 15 — Application
    Checklist for Authority to Close Loans on an.
  coverage_tier: operative
obligations:
- id: va-m26-7-ch01-t15-full
  canonical_id: va-m26-7-ch01-t15-full
  section: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 1, Topic 15 — Application
    Checklist for Authority to Close Loans on an
  type: do
  tags:
  - regulator-direct
  - va
  - va-handbook
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 1, Topic 15 — Application
      Checklist for Authority to Close Loans on an
    source_class: va-handbook
    source_url: https://www.benefits.va.gov/warms/pam26_7.asp
    snapshot_id: b4bc25cdd49513a7
    fetched_at: '2026-05-23T01:53:52Z'
    content_hash: sha256:2516e061c3a90ce65e72b43ae4022a97e784d65ec7580998c523b5dc69ba6520
    paragraph_quote: '15. Application Checklist for Authority to Close Loans on an
      Automatic Basis Change Date February 1, 2019 • This chapter has been revised
      in its entirety. a. Checklist • 1) Experience Your firm must meet one of the
      following experience requirements: • Company Experience • Firm actively engaged
      in originating VA loans for at least 2 years, and firm has originated and closed
      a minimum of ten VA loans (excluding IRRRLs); or, • Firm actively originating
      and closing VA loans for less than 2 years, and firm has originated and closed
      at least 25 VA loans (excluding IRRRLs). • Principal Officer Experience Documentation
      Resumes for each principal officer (president plus any officers involved in
      managing loan origination functions) showing mortgage lending experience. Experience
      Requirement A principal officer who is actively engaged in managing VA origination
      functions must have at least 2 recent years management experience in the most
      recent 5 years. Continued on next page VA Pamphlet 26-7, Revised Chapter 1:
      Lender Approval Guidelines 1-46 15. Application Checklist for Authority to Close
      Loans on an Automatic Basis, continued a. Checklist, continued • Agent Experience
      Documentation • A copy of the VA letter approving the firm as an agent for the
      sponsoring lender; • a letter from a senior officer of the lender indicating
      the number of VA loans submitted and compliance with VA requirements and procedures;
      and • a copy of the corporate resolution. Experience requirement • Firm actively
      operating as an agent for an automatic lender for 2 years, and originated a
      minimum of ten VA loans; or, • Firm actively operating as an agent for an automatic
      lender for less than 2 years, and originated a minimum of 25 VA loans. • 2)
      Underwriter(s) Documentation VA Form 26-8736a completed by a senior officer
      outlining the underwriter’s specific experience with VA loans. If the underwriter
      is not located in the home office, provide certification from a senior officer
      that the underwriter is supervised by an individual other than a branch manager
      or other person with production responsibilities must be provided. Experience
      Requirement • Minimum 3 years of experience in processing, pre-underwriting
      or underwriting mortgage loans, and at least 1 recent year of this experience
      making underwriting decisions on VA loans (recent = within the past three years);
      or, • Accredited Residential Underwriter (ARU) by the Mortgage Bankers Association.
      • 3) Working Capital or Net Worth • A minimum of $50,000 in working capital
      must be demonstrated; or • Lender has $250,000 net worth and reported by CPA
      in annual financial statements (see Topic 14 of this chapter). Continued on
      next page VA Pamphlet 26-7, Revised Chapter 1: Lender Approval Guidelines 1-47
      15. Application Checklist for Authority to Close Loans on an Automatic Basis,
      continued a. Checklist, continued • 4) Financial Statements audited and certified
      by a CPA and current to within 6 months of the application date. • 5) Line of
      Credit of at Least $1 Million Dollars • 6) Two Permanent Investors with addresses,
      telephone numbers and name(s) of contact person(s) • 7) Quality Control Plan
      That Meets VA Requirements (see Topic 14 of this chapter) • 8) Designated Liaison
      Officer • 9) Corporate Resolutions and Delinquency Data for Affiliates • 10)
      List of Branch Offices or Corporate Resolutions for Agents • 11) Application
      Fee Submitted'
  judgment: false
