VA Lenders Handbook M26-7, Chapter 18, Topic 2 — Applying for Authority

va-m26-7-ch18-t02

VA Lenders Handbook M26-7 Chapter 18 Topic 2 (Applying for Authority). Gap-fill (verbatim).

Get this register: .xlsx .csv More bundles →

Verbatim regulatory text (1)

Verbatim provisions from VA Lenders Handbook M26-7, Chapter 18, Topic 2 — Applying for Authority — 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 M26-7 Ch.18 Topic 2 — Applying for Authority

2. Applying for Authority a. Application and Fees The nominating senior officer of the servicer and the nominee must jointly complete the Staff Appraisal Reviewer (SAR) application. SAR applicants must attach a resume showing they possess the three years requisite experience outlined in section 1 of this chapter. A $100 processing fee must accompany the application package. b. Notification of VA Decision Department of Veterans Affairs (VA) Central Office will review the application and send a letter of preliminary approval or rejection. In some cases, VA will need to request additional information from both the nominee and the senior officer in order to make a determination. Receipt of a letter of preliminary approval will authorize the nominee to schedule Servicer Appraisal Processing Program (SAPP) SAR training. c. SAR ID Number VA will issue a permanent identification (ID) number for each SAR approved. The SAR always retains the same ID number, even when employed by a different servicer. When a SAR already has a Lender Appraisal Processing Program (LAPP) SAR ID number, the number will also be used as the SAPP SAR ID. d. SAR Employed By New Servicer If a SAR begins work for a new servicer, the SAR’s SAPP authority automatically ceases and does not transfer to the new servicer. To reinstate the SAR’s SAPP authority, the new servicer employer must promptly submit to VA: • a new SAPP application, and • a $100 processing fee. The servicer may request a waiver for the training and case review requirements for that SAR by including: • the SAR’s VA-issued ID number on the application, and • a statement that the SAR has processed SAPP cases within the last year. VA Pamphlet 26-7, Revised

Source: VA Lenders Handbook M26-7, Chapter 18, Topic 2 — Applying for Authority · source URL · snapshot 34112e99016b0680