Page 263
Topic 26. Request from the Veteran to Change Lenders
Page 264
March 11, 2019
This Chapter has been revised in its entirety.
a. Lender Responsibilities
Lenders are expected to cooperate when a Veteran decides to change lenders. The lender who ordered the appraisal must transfer the case to the new lender when requested by the Veteran in writing (including email). An appraisal report and case number may be transferred to another LAPP lender in WebLGY by a SAR of the original lender. The new lender should provide to the Veteran, their email address, phone number, and VA Lender ID number to be included in the Veteran’s letter to the original lender.
b. New Lender Must Issue the NOV
An NOV issued by a SAR is not transferable to another lender. The new lender’s SAR must review the appraisal and issue a new NOV to the Veteran.
c. Lender Not Approved for LAPP
If the new lender does not participate in LAPP, the Veteran’s request to change lenders must be submitted to the RLC of jurisdiction. The RLC will issue the NOV.