The VA

U.S. military veterans and active duty personnel have four mortgage industry participants looking to enhance their ability to take advantage of their benefits.

While the Department of Veterans Affairs does not have a credit score usage mandate, it has shown to be open to the use of advanced models.

United Wholesale Mortgage has introduced a product dubbed Govy125, a 125 basis points incentive on any note rate for VA IRRRLS and non-credit qualifying FHA streamlines.

The department will continue to monitor developments from a recent court settlement as it considers future rulemaking.

The department will release a circular to remove restrictive language potentially hindering veterans' home buying power until a new policy is formally introduced, it announced Tuesday.

Originators misled VA refinance applicants into believing they could skip two months of mortgage payments, the Federal Deposit Insurance Corporation said.

Late payments on VA loans were up markedly within the first quarter, in contrast to other products, according to new Mortgage Bankers Association data.

The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.

The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.

Mortgage companies can submit requests on behalf of more than 40,000 borrowers who need the new VA Servicing Purchase program starting at the end of next month.