VA Form 26-8629: Manufactured Home Loan Claim (PDF)

VA Form 26-8629: Manufactured Home Loan Claim (PDF) – VA Form 26-8629 is the Manufactured Home Loan Claim Under Loan Guaranty (Manufactured Home Unit Only). It is used by lenders, holders, or servicers of VA-guaranteed loans to submit a claim for payment under the VA’s Loan Guaranty program when a manufactured home loan defaults and the property is liquidated.

This form applies specifically to manufactured home units (often treated as personal property or chattel in some cases) under Section 3720, Chapter 37, Title 38 U.S.C. It helps determine the amount payable by the VA to cover losses after foreclosure, repossession, or other liquidation processes.

Download the current form here: VA Form 26-8629 PDF (opens in new tab).

Who Should Use VA Form 26-8629?

This form is primarily for lenders, mortgage servicers, or financial institutions holding VA-guaranteed manufactured home loans. Veterans or borrowers do not typically complete this form themselves. It is submitted after liquidation of the security (the manufactured home) to recover the guaranteed portion of any loss.

Key scenarios include:

  • Foreclosure or repossession of a manufactured home financed with a VA loan guaranty.
  • Calculation of the claim amount based on principal, interest, expenses, and sale proceeds.
  • Compliance with VA regulations (38 CFR 36.4284 and related sections) for manufactured home claims.

Purpose and Key Features of the Form

The main purpose is to document the loan details, account status, liquidation expenses, and proceeds from the sale of the manufactured home to calculate the exact claim amount under the VA guaranty.

Important sections include:

  • Borrower and loan identification details (VA loan number, holder information).
  • Computation of indebtedness (original principal, accrued interest, payments received).
  • Liquidation accounting (sale proceeds, expenses, advances).
  • Supporting documents required, such as instruments evidencing the debt, statement of account, and transfer documents.

The form has detailed instructions on the reverse side for items like interest calculations (different rules pre- and post-May 8, 1984) and cutoff dates for claims.

How to Fill Out and Submit VA Form 26-8629?

  1. Gather Required Documents: Original or certified copies of loan instruments, statement of account, resale documents, title transfer records, etc.
  2. Complete Loan and Claimant Information: Fill in names, addresses, loan numbers, guaranty percentage, and terms.
  3. Compute Account Status: Follow instructions for principal, interest (simple, discount, or add-on), credits, and total indebtedness.
  4. Detail Liquidation: Report sale proceeds, expenses (Schedule A), advances, and final balance.
  5. Calculate Claim: The claim is the smallest of the guaranty amount, computed indebtedness percentage, or net loss after liquidation.
  6. Certify and Sign: The claimant certifies accuracy and agrees to surrender the guaranty certificate upon payment.

Submit the completed form and supporting documents to the appropriate VA Regional Loan Center. Always verify current submission addresses and procedures on the official VA website, as processes can update.

Common Questions About VA Manufactured Home Loans and Claims

Are Manufactured Homes Eligible for VA Loans?

Yes. VA loans can finance manufactured homes, especially when permanently affixed to a foundation and titled as real estate. Requirements include meeting VA Minimum Property Requirements and local building codes.

What Happens in a Default Situation?

Lenders must follow VA loss mitigation guidelines before foreclosure. If liquidation occurs, Form 26-8629 helps recover the guaranteed loss.

Is the Form Still Current?

The October 2008 revision remains the referenced version on VA.gov. Always download the latest from official sources and check for any updates.

Why This Form Matters for Lenders and Veterans

For lenders, accurate completion of VA Form 26-8629 ensures timely reimbursement under the guaranty, reducing financial risk and supporting continued participation in the VA home loan program. For veterans, the program provides access to favorable financing for manufactured homes with no down payment options in many cases and competitive rates.

Additional Resources

Veterans or lenders with questions should contact the VA Loan Guaranty Service or a VA-approved lender for personalized assistance. Always consult official VA sources for the most up-to-date information, as policies and forms can evolve.

This article is for informational purposes only and is not legal or financial advice.