VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates

va-m26-7-ch03-t06

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates.

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  type: guide
  id: va-m26-7-ch03-t06
  authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates
  description: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates.
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    section: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates
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      authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates
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      paragraph_quote: '6. Interest Rates Change Date November 8, 2012, Change 21 • This section has been updated to make minor grammatical edits. a. Requirement VA no longer prescribes interest rates for VA-guaranteed loans. The interest rate is negotiated between the veteran-borrower and the lender to allow the veteran to obtain the best available rate. b. Changes to the Agreed Upon Interest Rate The lender and borrower are expected to honor any lock-in or other agreements they have entered into which impact the interest rate on the loan. VA does not object to changes in the agreed upon rate, as long as no lender/borrower agreements are violated. The following procedure applies in such cases. Any increase in the interest rate of more than one percent requires: • re-underwriting to ascertain the veteran’s continued ability to qualify for the loan, • documentation of the change, and • a new or corrected Uniform Residential Loan Application, (URLA) with any corrections initialed and dated by the borrower. Reference: For prior approval loans, see section 4 of chapter 5. VA Pamphlet 26-7, Revised Chapter 3: The VA Loan and Guaranty 3-17'

Verbatim regulatory text (1)

Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates

6. Interest Rates Change Date November 8, 2012, Change 21 • This section has been updated to make minor grammatical edits. a. Requirement VA no longer prescribes interest rates for VA-guaranteed loans. The interest rate is negotiated between the veteran-borrower and the lender to allow the veteran to obtain the best available rate. b. Changes to the Agreed Upon Interest Rate The lender and borrower are expected to honor any lock-in or other agreements they have entered into which impact the interest rate on the loan. VA does not object to changes in the agreed upon rate, as long as no lender/borrower agreements are violated. The following procedure applies in such cases. Any increase in the interest rate of more than one percent requires: • re-underwriting to ascertain the veteran’s continued ability to qualify for the loan, • documentation of the change, and • a new or corrected Uniform Residential Loan Application, (URLA) with any corrections initialed and dated by the borrower. Reference: For prior approval loans, see section 4 of chapter 5. VA Pamphlet 26-7, Revised Chapter 3: The VA Loan and Guaranty 3-17

Source: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates · source URL · snapshot 73e5d344e2743889

Operationalizing VA Lenders Handbook (VA Pamphlet 26-7), Chapter 3, Topic 6 — Interest Rates

This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.

Source of record: https://claudeforcompliance.com/regs/va-m26-7-ch03-t06/ · register va-m26-7-ch03-t06 · Claude for Compliance. Free to read and download; see regulatory updates and methodology.