LAPP Cases

For cases processed under LAPP, the SAR must send the

·   veteran borrower the NOV and a copy of the reviewed appraisal report, within five business days of the lender’s earliest receipt of the appraisal report by the SAR or an authorized agent/broker.

Note:  Any delay without documented, reasonable extenuating circumstances, such as the need to obtain additional information from the fee appraiser, will not be acceptable.

·   VA office of jurisdiction

-   a copy of the NOV, and

-   a complete set of the appraisal report contents (Section 11.04), either on the same day the NOV is sent to the veteran or by the last day of the month along with the other NOVs issued that month, and

·   fee inspector if assigned by VA, a copy of the NOV, if applicable

NOV Issued   by VA

For VA processed cases, VA will send the

·   lender the original NOV or Master CRV and an original copy of the VA-reviewed appraisal report with all related exhibits, and

·   veteran borrower a copy of the NOV.  If the borrower is unknown at the time the NOV is prepared, the copy will be

-   retained in the case file and mailed to him/her upon VA receipt of the Uniform Residential Loan Application (in “prior approval” cases), or

-   sent [ ] after the loan is guaranteed (for loans processed on the automatic basis).

Note:  For properties valued on a Master CRV, the veteran borrower’s notice of value will be considered to be VA Form 26-1820, Report and Certification of Loan Disbursement or VA Form 26-1802a, HUD/VA Addendum to Uniform Residential Loan Application.