I won my appeal for disability about a month after I purchased a home. I recently found out that I am eligible for reimbursement, so I contacted the lender, PennyMac Home Mortgage and provided my benefits letter as proof I was eligible. They told me they would apply and the fees I paid would be applied to my mortgage balance. I questioned them about that, since I had to use funds out of my savings for the fees, and received a reply that was the 'way' the VA does it. A little research brought up a document https://www.va.gov/oig/pubs/VAOIG-18-03250-130.pdf and this:
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VBA has requested a legal opinion from VA’s Office of General Counsel to determine whether VA has the authority to issue funding fee refunds directly to veterans in cases where there is a loan balance. The Under Secretary stated having this authority would increase the efficiency in completing refunds timely and would determine the procedural and policy changes implemented going forward. The Under Secretary also stated Loan Guaranty Service has a contingency plan ready for implementation depending on the outcome of the General Counsel’s legal opinion.
So, my question is if anyone has any more information on this? I could use the money.
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McRay
I won my appeal for disability about a month after I purchased a home. I recently found out that I am eligible for reimbursement, so I contacted the lender, PennyMac Home Mortgage and provided my benefits letter as proof I was eligible. They told me they would apply and the fees I paid would be applied to my mortgage balance. I questioned them about that, since I had to use funds out of my savings for the fees, and received a reply that was the 'way' the VA does it. A little research brought up a document https://www.va.gov/oig/pubs/VAOIG-18-03250-130.pdf and this:
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Bwaveteran
I read that OIG report and what your lender is going to do, is recommend for the refund funding fee. ”A plan to consistently obtain documentation and verify lenders apply funding fee refun
Bwaveteran
Gezzz..I hope not for your sake. Be great if that funding fee gets refunded during your re- financing.
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