Clarification to Seasoning Requirements for Refinances of Modified VA Loans

Ginnie Mae recently posted an All Participant Memorandum (APM 21-06) that provided additional clarification when you are refinancing a VA loan that has been modified. You must use the modification date to meet Ginnie Mae’s seasoning requirements.

As a reminder the seasoning rule is —

The note date of the refinance loan is on, or after, the later of:

• the date on which the borrower has made at least six monthly payments on the loan being refinanced;
• and the date that is 210 days after the first payment due date of the loan being refinanced.

Please contact your District Director if you have any questions.