On September 9, the U.S. Department of Veterans Affairs (VA) released Circular 26-24-18 announcing the launch of the new Program Participant Management (PPM) system for lenders beginning October 7. The PPM system will replace the current mail-based process and allow lenders to submit and track applications electronically. It will also manage payment accounts for lender maintenance fees and update employment information for underwriters and staff appraisal reviewers. The new system aims to centralize and simplify lender interactions with the VA and improve efficiency for lenders working with the loan guaranty program. Lenders must register for the new system and designate at least one VA relationship manager to manage their information within the system.
The VA plans to release training videos and user guides to help lenders transition to the new system. These materials will be available on the VA’s training website, and lenders are encouraged to enroll in the GovDelivery notifications for updates.
