VA Charge Off
Updated: 01/25/2018
Article #: 28
Per VA:
If the AUS is actually reading the charge-off, then you can use the Accept; otherwise, it’s not valid, and you’d need to manually underwrite the loan. In that case, it would be treated as any other derogatory credit—if it’s recent, it could negatively impact the loan’s approval.
Original question:
Borrower has a $11,367 auto loan reported as charged off. If I can get an Approve/Eligible, how do I treat this account?
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