d. What Happens Next?

VA will review the documents submitted and do one of the following:

·   Suspend processing and request additional information from the lender

·   send a notice of denial to the lender and applicant, or

·   issue VA Form 26-1866, Certificate of Commitment, to the lender, evidencing approval of the loan.

e. Certificate of Commitment

The lender may close the loan in reliance on VA’s Certificate of Commitment.  The lender is subsequently entitled to evidence of guaranty if:

·   The closed loan is identical in all respects to that submitted to VA on the URLA and described on the Certificate of Commitment (or, if not identical, any required VA approval of changes was obtained prior to closing), and

·   the lender has complied with all applicable provisions of the law and loan guaranty regulations in making the loan.

If, at any time prior to closing, the lender or VA has reason to doubt the continued qualification of the loan, the lender will delay closing until all facts are determined.

VA may cancel a commitment if the validity period of the Certificate of Commitment has expired and there is no reasonable expectation that the loan will be reported for guaranty.