Code of Massachusetts Regulations
761 CMR - MASSACHUSETTS HOME MORTGAGE FINANCE AGENCY
Title 761 CMR 22.00 - Servicer's Guide
LOAN SERVICING
Section 22.19 - VA 30 Day Waiting Period
Universal Citation: 761 CMR 22.00 MA Code of Regs 22.19
Current through Register 1531, September 27, 2024
While foreclosure of a VA Mortgage Loan normally may not be instituted until 30 days elapse from submission of the VA Notice of Intention to Foreclosure, Servicer should not postpone a recommendation to MHMFA to foreclose. The purpose of a 30-day waiting period is to allow the VA to contact the Borrower; however, Servicer should continue collection efforts during such waiting period. Also, if the property has been abandoned or is rented or there are other extraordinary circumstances, Servicer should ascertain whether the 30-day waiting period requirement is applicable.
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