Items Tagged with 'Veteran Affairs'

ARTICLES

  • Bipartisan group of senators seek more “predatory” lending protections for veterans

    Lenders would be required to show “material benefit” for VA refinances
    Over the last few months, Ginnie Mae and the Department of Veterans Affairs began looking into a segment of mortgage lenders that were aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But a bipartisan group of senators think both the VA and Ginnie Mae need more legal authority to stamp out the problem entirely.
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  • Ginnie Mae, VA launch task force to look into lenders targeting veterans for quick refinances

    Comes on the heels of Ginnie Mae opening investigation
    Roughly one month ago, Ginnie Mae announced that it was launching an investigation into mortgage lenders that were aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Now, Ginnie Mae and the Department of Veterans Affairs are launching a task force to “address mortgage refinancing issues” surrounding VA loans.
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  • Ginnie Mae investigating aggressive lenders targeting veterans for quick refinances

    Review comes on heels of CFPB report, inquiry from Sen. Elizabeth Warren
    Ginnie Mae is looking into a number of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae’s investigation comes at the urging of Sen. Elizabeth Warren, D-Massachusetts, who raised concerns about lenders that may be “aggressively and misleadingly marketing the refinancing of mortgages backed by the Department of Veterans Affairs.”
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  • Here’s why appraisers are reluctant to work with the VA

    Regulatory burdens getting in the way
    Appraisal shortages already plague the market and slow down the closing process, a problem which grows only more complicated when it comes to VA mortgages. One expert explained that while good appraisals are key to maintaining a strong VA Home Loan Guarantee Program, regulatory burdens are getting in the way.
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  • Mortgage Bankers helping veterans achieve homeownership

    Built to Honor program awards mortgage-free houses to injured vets
    "A homecoming for these heroes is something to be celebrated. Sadly, as we continue to recover from the largest economic downturn in generations, many of our veterans face homelessness, health care complications and high unemployment rates," Mortgage Bankers Association President and CEO David Stevens said.
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  • Mortgage Investors Corp. lays off 500 workers

    VA refi specialist stops making new home loans, blames Dodd-Frank
    Mortgage Investors Corp. laid off 500 workers, which leaves fewer than 40 employees to help wind down operations. The company is closing its doors on the heels of new federal regulations and the partial government shutdown.
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