26-8736b
Checklist/Request for Authority to Close Loans on an Automatic Basis—Nonsupervised Lenders
VA Form 26-8736b is the U.S. Department of Veterans Affairs Checklist/Request for Authority to Close Loans on an Automatic Basis for nonsupervised lenders. It is used to review a lender's request for that authority. The form has no fields for a Veteran or borrower, and VA's form page lists it under employment or jobs at VA.
The form is two pages. Section I lists VA requirements that, in the form's words, must be met by the lender, each answered yes or no. Section II is a station summary of the lender's record, Section III holds remarks on specific items, and the form ends with an approval action of recommended or not recommended and the reviewer's signature and title. You can fill out the PDF free in your browser on this page and download the result without an account.
Financial statements audited and certified by a CPA and current to within 6 months of the application date, the amount of working capital, resumes for principal officers, 3 years of VA loan origination and servicing experience, and any suspension by VA or FHA or servicing contract suspended for cause.
Underwriter nominations and their location, at least 2 years full-time VA underwriting and 3 years mortgage underwriting experience, line(s) of credit of at least $1 million, a liaison officer, two permanent investors and HUD, FNMA and GNMA approval information.
Lines 13 to 15 cover the quality of loan submissions on a prior approval basis, the frequency of loan terminations and the quality of servicing, if applicable.
Lines 16 to 23 ask for specific details on completeness and quality of loan submissions, the percent of rejected submissions to total application volume, responsiveness to training and counseling, timeliness and cooperativeness, instances of demonstrated inability to understand VA requirements, the nominated underwriters and other significant factors.
A box for recommended or not recommended, the signature and title of the reviewer and the date.
Fill in the name of the lender and the home office address at the top of page 1.
Mark yes or no for each requirement on lines 1A to 12. Line 2 takes the working capital amount, which the form describes as current liabilities subtracted from current assets.
Describe the lender's record in the Section II boxes for lines 13 to 15.
Give the specific details Section III asks for on lines 16 to 23.
Check recommended or not recommended in Item 24, then the reviewer signs with a title in Item 25 and dates it in Item 26.
You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.
Neither the form nor VA's form page prints a mailing address or a way to submit it.
Section I asks whether audited financial statements, resumes for principal officers, VA Form 26-8736A underwriter nominations, a list of investors and HUD, FNMA and GNMA approval information were included or submitted.
The MAR 2014 edition supersedes VA Form 26-8736b, APR 1989, which the form says will not be used. VA's page gives a form revision date of March 2014.
The form is about a lender and is signed by a reviewer. It has no fields for a Veteran or borrower.
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It is VA's Checklist/Request for Authority to Close Loans on an Automatic Basis for nonsupervised lenders: a yes or no checklist of VA requirements, a station summary, remarks and an approval action of recommended or not recommended.
The form has no fields for a Veteran or borrower. It is about a lender and is signed by a reviewer, and VA's form page lists it under employment or jobs at VA.
Line 7A asks whether underwriters have been nominated on a properly completed VA Form 26-8736A.
Line 8 asks whether underwriters have 2 years minimum full-time experience underwriting VA loans and 3 years underwriting experience in mortgage lending.
The PDF is dated MAR 2014, which matches the March 2014 revision date on VA's form page. It supersedes the APR 1989 edition.
