News & Analysis as of

Loans Veterans

Troutman Pepper

CFPB Report Highlights Challenges Facing Servicemembers and Veterans, Including Student Loans and Money Transfer/Virtual Currency...

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Yesterday, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly...more

Orrick, Herrington & Sutcliffe LLP

Veterans Affairs releases circular on new electronic system for lenders

On September 9, the U.S. Department of Veterans Affairs (VA) released Circular 26-24-18 announcing the launch of the new Program Participant Management (PPM) system for lenders beginning October 7. The PPM system will replace...more

Sheppard Mullin Richter & Hampton LLP

CFPB Penalizes VA Lender for Misrepresenting Cost of Cash-Out Refinance Loans

On August 29, the CFPB issued a consent order against a non-bank direct mortgage lender for misrepresenting the cost of its cash-out refinance loans, which are guaranteed under the VA home loan program, to active-duty...more

Ballard Spahr LLP

VA Announces Secondary Borrowing Requirements for Loan Assumptions

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In connection with its guaranteed home loan program, the Department of Veterans Affairs (VA) announced in Circular 26-24-17 [Link: https://benefits.va.gov/HOMELOANS/documents/circulars/26-24-17.pdf] requirements when a party...more

Ballard Spahr LLP

VA Announces Change Regarding Temporary Variance Allowing Veterans to Pay Broker Commissions

Ballard Spahr LLP on

Previously, in connection with the home loan program of the Department of Veterans Affairs (VA) we reported on the VA’s adoption of a temporary local variance allowing veterans to pay the commission of the real estate broker...more

Ballard Spahr LLP

VA Announces System Enhancement for Temporary Variance Allowing Veterans to Pay Broker Commissions

Ballard Spahr LLP on

In connection with its guaranteed home loan program, in June 2024 the Department of Veterans Affairs (VA) adopted a temporary local variance allowing veterans to pay the commission of the real estate broker or agent assisting...more

Ballard Spahr LLP

VA Proposes Rules for ARM Loans and Temporary Buydown Agreements

Ballard Spahr LLP on

The U.S. Department of Veterans Affairs (VA) recently proposed rules under its home loan guaranty program regarding adjustable rate mortgage (ARM) loans, hybrid ARM (h-ARM) loans and temporary buydown agreements. Comments are...more

Ballard Spahr LLP

VA Announces Temporary Variance Allowing Veterans to Pay Broker Commissions and Announces a Targeted Foreclosure Moratorium

Ballard Spahr LLP on

Buyer-Broker Commissions - In connection with its guaranteed home loan program, the Department of Veterans Affairs (VA) recently adopted a temporary local variance allowing veterans to pay the commission of the real estate...more

Ballard Spahr LLP

Department of Veterans Affairs Enacts Sweeping Loss Mitigation Program Changes

Ballard Spahr LLP on

The Department of Veterans Affairs (VA) made significant changes to its loss mitigation program this month, launching its awaited Veterans Affairs Servicing Purchase Program, and implementing a 40-year loan modification term....more

Ballard Spahr LLP

VA Proposes Supplemental Refinance Loan Rule

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As previously reported, in November 2022 the Department of Veterans Affairs (VA) issued a proposal to update its rules for interest rate reduction refinancing loans (often referred to as “IRRRLs”) to conform with VA loan...more

Orrick, Herrington & Sutcliffe LLP

VA issues circular to address loan holder fees on assuming a VA-guaranteed loan

On February 26, the Department of Veterans Affairs published a circular to address assumption fees, specifically permitting a loan holder to charge an additional assumption-related fee based on the location of the relevant...more

Spilman Thomas & Battle, PLLC

Q&A with the Carolina Small Business Development Fund

We are fortunate to have connected with Kevin Dick, the President & CEO, and Emily Blevins, Marketing & Communications Director, of the Carolina Small Business Development Fund, at the recent Annual Meeting of the United...more

Ballard Spahr LLP

VA Issues Proposed Refinance Loan Rule

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The Department of Veterans Affairs (VA) recently issued a proposal to update its rules for interest rate reduction refinancing loans (often referred to as “IRRRLs”) to conform with VA loan refinance provisions in the Economic...more

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