Items Tagged with 'Department of Veterans Affairs'

ARTICLES

  • New York foreclosure firm admits to cheating Fannie Mae, VA out of millions

    Rosicki, Rosicki & Associates accused of "systematically" overbilling expenses
    The U.S. Attorney’s Office for the Southern District of New York announced Tuesday that it reached a settlement with Rosicki, Rosicki & Associates, in which the law firm admitted to using its wholly owned affiliates, Enterprise Process Service and Paramount Land, to overcharge Fannie Mae and the VA for millions of dollars in foreclosure and eviction-related expenses.
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  • Trump cancels looming pay raise for federal workers

    Workers at HUD, FHA, FHFA, other agencies see raises disappear
    Nearly two million federal government employees, including many at the Department of Housing and Urban Development, the Federal Housing Administration, the Department of Veterans Affairs, the Federal Housing Finance Agency, and all other federal agencies, were due a pay raise in January, but that won’t happen anymore.
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  • Lenders react to removal from Ginnie Mae VA loan programs

    Responses couldn’t be more opposite
    Friday evening, Ginnie Mae announced it was booting several lenders from its Department of Veterans Affairs securities programs. Now, lenders are reacting, but their responses couldn’t be more opposite. While one lender is commending Ginnie Mae’s actions, while another stands firmly against them.
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  • Ginnie Mae boots 3 VA lenders from mortgage bond programs

    Continues crackdown of VA loan churning
    Ginnie Mae announced late Friday that it is booting three VA mortgage lenders from its main securities programs. All three issuers are restricted from including VA single family guaranteed loans in Ginnie Mae I securities or Ginnie Mae II multi-issuer securities. Click the headline to find out which three lenders got the boot.
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  • Ginnie Mae reveals new requirements for VA refinances

    Continues fight against predatory lending
    Ginnie Mae recently announced new requirements for its Department of Veterans Affairs refinance loans in order to protect service members from predatory lending. The agency issued an All Participants Memorandum that announced the implementation of changes to pooling eligibility requirements for VA insured or guaranteed mortgages.
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  • Ginnie Mae reportedly boots two lenders from bond program over VA loan churning

    NewDay and Nations Lending sanctioned
    Ginnie Mae’s battle against a number of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages just went to another level. Ginnie Mae reportedly booted NewDay USA and Nations Lending from its primary mortgage bond program after threatening the lenders earlier this year over their abnormally high prepayment speeds.
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  • Wells Fargo: Ginnie Mae warning on VA loan churning is just the beginning

    Analysts expect oversight of VA refinances to intensify
    On Thursday, Ginnie Mae laid down the law, so to speak, in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But according to analysts from Wells Fargo, Ginnie Mae’s threat of booting lenders from its bond program will not be the agency's last move in its effort to clean up VA loan churning.
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  • Ginnie Mae threatens to boot lenders from bond program over VA loan churning

    Steps up fight against lenders targeting veterans for quick refinances
    Ginnie Mae is turning up the heat in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae is now threatening a small number of lenders with expulsion from its primary mortgage bond program if the lenders do not address the issue.
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  • 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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