Published 08/08/2012 03:21 PM |
Updated 08/13/2012 08:58 AM
Please clarify whether you report a loan as 61 days delinquent on the day it becomes 61 days or do you have up until 7 calendar days from the date it becomes 61 days delinquent?
Loans are reportable as delinquent when they become 61 days delinquent. For servicers with a service bureau, this information will come to VA and be reported in VALERI in an overnight file exchange on the 61st day so it will be seamless to you. If you had to report a specific loan through the Servicer Web Portal it would have to come through no later than the 68th day which is within 7 days of the 61st day of delinquency