The Department of Veterans Affairs, established in 1944 as part of the original GI Bill of Rights for returning World War II Veterans, announced today that it has guaranteed its 20 millionth home loan.
The 20 millionth loan was granted to a Woodbridge, Va., widow whose husband died in Iraq.
“The 20 millionth VA home loan is a major milestone and is a testament to VA’s commitment to support and enhance the lives of Veterans, Service members, their families and survivors,” said Allison A. Hickey, VA’s undersecretary for Benefits.
A large part of the VA’s success has stemmed from the fact that they have the lowest foreclosure rate for 17 consecutive quarters along with the lowest delinquency rate for the previous 14 quarters, according to the Mortgage Bankers Association.
“As a result of their service and sacrifice, as a group, they prove to be disciplined, reliable, and honorable — traits that are ideal for this kind of national investment,” said Hickey.