The VA

The longtime mortgage professional oversaw numerous modernization efforts at the Veterans Affairs mortgage department, and the creation of a post-pandemic foreclosure prevention program.

The bill, introduced by Rep. Derrick Van Orden, creates a permanent partial claim program for veterans.

The VA Home Loan Program Reform Act arrives after the expiration of a previous foreclosure-prevention program sent foreclosure numbers spiking this spring.

Policymakers technically closed the relief program in May because of concerns it was too costly, but it does have a soft phaseout for grandfathered trial mods.

Originators skilled in VA lending can assist families making a military permanent change of station who are looking to own a home at their new location.

The move comes as the House of Representatives passed a successor bill this week to support distressed homeowners served by the Department of Veterans Affairs.

Mortgage bankers have been supporting recent updates to the legislative proposal while urging legislators to fast-track it given the phaseout of VASP.

The Department of Veterans Affairs ended a break for borrowers put at a disadvantage by a discontinuation of pandemic aid as they transitioned to a new program.

Homeowners experiencing a death in the family, divorce or domestic violence complained of being strong-armed into costly refinances, facing long delays or simply not being helped.

Mortgage lenders can now submit loan information through VA's new management system, replacing the need for email submissions.