A&B Abstract: On December 20, 2023, the Department of Veterans Affairs (VA) issued Circular 26-23-27 (the “Circular”) to remind holders and servicers of VA-guaranteed loans about their obligation to process assumptions and how the VA will address non-compliance with its assumption requirements. The Circular became effective immediately upon issuance. The Circular Holders and servicers of […]
Assumptions
Assumptions on the Rise: Are You Ready for Mortgage Assumptions?
A&B ABstract: Mortgage assumptions – where a buyer assumes the existing mortgage loan of a seller – have fluctuated in popularity since the 1980s. However, inflation and the high interest rate environment, coupled with an observable shift to a buyer’s market, are raising the prospect that assumable mortgages – especially those with historically low interest […]