Bulleting 2022-054 VA Pest Inspection Fees and Repair Costs
Newrez LLC "Newrez" Approved Correspondent Clients: Please note, Newrez will align with VA Circular 26-22-11. All changes announced in this announcement are effective immediately.
On June 15, 2022, VA announced, in VA Circular 26-22-11, that Veterans may be charged wood destroying pest inspection fees where required by the Notice of Value (NOV). The termite fee can now be charged as an “itemized Fees” fee on the Closing Disclosure statement (CD).
An itemized invoice identifying the Veteran and the property is required to verify the cost on the CD.
Additionally, the Veteran may also pay for any repairs required to ensure compliance with Minimum Property requirements (MPR) for certain properties located in areas found on the Termite Infestation Probability Map where the probability of termite infestation is “very heavy” or “moderate to heavy”.