AWACSMortgage compliance intelligence from Flightline

VA · Circular 26-26-5 · Published

Remittance of VA Partial Claim Payments Via Fedwire

Servicers must follow standardized wire instructions when submitting Partial Claim Program remittance payments to the VA via Fedwire. Specific field tags, exact beneficiary identifiers, and originator-to-beneficiary loan information are now required.

Action requiredIn effect nowChecks passed· adjusted automaticallyRead the circular ↗ (opens in a new tab)

Loan impact

From the circular text · needs review

Applies to: VA loans subject to Partial Claim payment remittances.

Applies when all of these are true
  • ANDVA loan
  • ANDPartial claim
Investor
VAFrom the publisher, not quoted from the text
Programs
VAFrom the publisher, not quoted from the text
Affected area
Loss mitigation
Affected documents
Remittance form
Applicability confidence
Needs review: some rows could not be matched to a quote from the source
Supporting quotes from the circular
  • conditions“This Circular provides instructions to servicers regarding the proper submission of Fedwire payments to the Department of Veterans Affairs (VA) for the Partial Claim (PC) Program.”
  • affected areas“This Circular provides instructions to servicers regarding the proper submission of Fedwire payments to the Department of Veterans Affairs (VA) for the Partial Claim (PC) Program.”
  • affected documents“The agency (servicer) must appear in the header of the remittance form; and in the initial instruction sentence provided to the sending institution.”

What changed

From the circular text · Section 2
RequirementPreviouslyNow
VA Partial Claim Fedwire payment remittance instructionsNewRequiredNot statedServicers are to follow the instructions in this Circular for PC payment remittances.

Each change applies when all the loan-impact conditions above are true.

What to do

AWACS interpretation · not source language

What to review: Review the mandatory Fedwire payment remittance instructions for the VA Partial Claim Program effective immediately.

Servicing

Immediately follow the instructions in the Circular when submitting VA Partial Claim payment remittances via Fedwire.

QC implications

  • Verify that VA Partial Claim Fedwire payment remittances adhere to the required remittance instructions.

Source and record

Version 1 · archived

Checks

  • Source verified: Passed

    The document ID, link and publication date match the official source.

  • Quotes match the source: Passed

    Every quoted passage appears word for word in the official document.

  • Requirements backed by the source: Passed, adjusted automatically

    Anything marked required is backed by the requirement language and dates in the source.

    • A detail the source does not support was removed or adjusted

  • In scope: Passed

    The document is about residential mortgage lending.

  • Format and labels: Passed

    The record follows the AWACS format and uses its standard labels.