Items Tagged with 'VA refinances'

ARTICLES

  • VA lenders subpoenaed as investigators explore whether veterans are being overcharged for their mortgages

    Authorities look into allegations that military veterans are being aggressively pursued for refis
    At least eight lenders that issue VA loans have been hit with federal subpoenas, Politico reported Tuesday. The move commences an investigation by the Department of Veterans Affairs Office of Inspector General and the U.S. attorney in the Eastern District of New York into whether lenders are overcharging military veterans for mortgage loans – a charge that’s been hovering over the industry for nearly two years.
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  • Ginnie Mae considering changes to VA loan rules as refinances continue to soar

    Requests industry input on prevalence of VA cash-out refinances
    For more than 18 months, HUD, Ginnie Mae, and the VA have been investigating whether certain lenders are aggressively targeting service members and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae even went so far as to issue new rules for VA loan refinances, restricting how soon a loan could be refinanced after its original origination date. And while Ginnie Mae says that those changes have made a positive impact, the agency is also now stating that more changes may be necessary to get the pervasiveness of VA loan refinances under control.
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