DEPARTMENT OF VETERANS AFFAIRS REGIONAL OFFICE NORRIS COTTON FEDERAL BUILDING 275 CHESTNUT STREET MANCHESTER, NH 03101

March 20, 2000



					           In Reply Refer to:373/26
                						         LOCAL RELEASE 26-00-11
LENDERS



SUBJ: MANCHESTER REGIONAL LOAN CENTER (RLC) LOAN PROCESSING ISSUES






What exactly does the Loan Processing Section of the Manchester RLC do?


We issue evidence of guaranty for VA home loans in New England (CT, ME, MA, NH, RI, VT) and New 
York.  Although most of the loans we see have been approved and closed by the lender, we are also 
responsible for underwriting loans submitted to us on the "prior approval" basis.  A significant part of our
time is spent reviewing loans, providing information about the VA home loan program, and training
lenders.  Please note that appraisals for properties in New England are processed through our Appraisal
Section, but appraisals for properties in New York are still processed through either the New York City
Regional Office (RO) or the Buffalo RO.


How can lenders obtain information about the VA Home Loan Program?


Lenders can obtain information about the VA Home Loan Program through one of the following:

The VA Internet site http://homeloans.va.gov provides general loan benefit
information with links to a "Lender & Servicer" page that contains the VA Lender's Handbook.  This 
document provides a step by step guide to VA loan procedures including lender approval, occupancy 
requirements, credit standards, etc.


VA offers satellite training sessions during the year, and tapes of these sessions may be purchased.
Our Local Release 26-00-08 and the VA Internet site provide information on the sessions for 2000.


They can e-mail our office at nh_lp@vba.va.gov.


They can call our office.



When is Manchester going to provide an 800 number for access to Loan Processing?


NOW!  You can reach our Loan Processing Section at (800) 827-6311, extension 3314.  If you do not get
a "live" person, please leave a detailed message to include the VA case number, if applicable, and someone
will return your call as soon as possible.


Anything else new from Manchester RLC?


We have recently revised our Maintenance and Utility Chart (please click on the link).  We use this chart as a guide
for estimated utility and maintenance costs for the property securing the loan when we complete a loan 
analysis, VA Form 26-6393.  Lenders may either use our chart or alternative documents such as the 
seller's records  when completing the loan analysis.  Please assure the loan file is annotated to reference any 
alternative costs that are used.


Where should eligbility applications be sent?


Effective June 1, 1999 all eligibility applications for our region have been processed through the Winston-
Salem, NC Eligibility Center.  Please mail the fully completed VA Form 26-1880, Request for 
Determination of Eligibility and Available Loan Guaranty Entitlement, to the Eligibility Center, P.O. Box
20729, Winston-Salem, NC 27120.  You may obtain VA Form 26-1880 and other VA Forms at 
www.vba.va.gov/pubs/forms1.htm.


Our closing remarks


We appreciate your continued participation in our program and the service you provide our veterans.
Please call our new 800 number, (800) 827-6311, extension 3314, if you have any VA Loan Processing 
questions.






A. A. Snyder
Loan Guaranty Officer

Maintenance & Utility Chart