When the Mortgage Type of a loan file is set to VA, the VA Loan tab will appear in the tab list on the left side of the screen, underneath the Financial Info tab.
The VA Loan tab contains information specific to the VA mortgage type, including the following fields:
- Agency Case Number
- The Agency Case Number is not required to submit the loan for an underwriting recommendation, but is required by the final submission. You must enter a valid number, so leave it blank if you don't have one yet. If you don't complete the field, DU displays a warning message.
- Borrowers Married to Each Other
- If the borrowers on the file are a married couple, this must be set to Yes in order for DU to run successfully.
- VA Title Vesting Type
- Seller Concession
- This is not the same as a Seller Credit. Seller Credit should only be entered in the Purchase Credits section of the Loan & Property tab. If you enter it as a Seller Concession, you may get an error when running AUS.
- Each borrower's CAIVRID #
- Mortgage Credit Cert
- The Annual limit on the tax credit is lesser of $2000 or the maximum tax liability. DU will use the maximum amount of $167 if MCC entered exceeds the annual limit.
- VA Entitlement
- Manual entry or Calculated
Below this is the VA Residual Income calculator. You can select "Enter Manually" to enter the amount manually. (Note:
The Residual Income amount entered will only be accepted by LPA. DO/DU ignores this income and instead use a system calculated value.)
Make sure that you complete all relevant information in this tab before running AUS.