News & Analysis as of

Veterans Department of Veterans Affairs

Brownstein Hyatt Farber Schreck

VA Budgetary Shortfall Threatens Veteran Benefits

As Congress shifts from negotiating positions on appropriations bills to building a continuing resolution (CR) for the rest of the calendar year, the Department of Veterans’ Affairs (VA) has been left facing a nearly $15...more

Troutman Pepper

CFPB Orders Mortgage Lender to Pay $2.25 Million for Allegedly Deceiving Servicemembers and Veterans

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it had entered into a consent order with NewDay USA, a Florida-based non-bank direct mortgage lender, over allegations that the lender misled...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

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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

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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

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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

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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

Troutman Pepper

VA Announces “Targeted Foreclosure Moratorium” on VA Loans Through December 31, 2024

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On May 29, the Department of Veterans Affairs (VA) announced a targeted foreclosure moratorium on VA-guaranteed loans intended to allow servicers sufficient time to implement the Veterans Affairs Servicing Purchase (VASP)...more

Ballard Spahr LLP

Department of Veterans Affairs Enacts Sweeping Loss Mitigation Program Changes

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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

Dorsey & Whitney LLP

The Supreme Court Update - April 29, 2024

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Today, the Supreme Court of the United States granted certiorari in four cases: Medical Marijuana, Inc. v. Horn, No. 23-365: This case involves interpretation of the Racketeer Influenced and Corrupt Organizations Act...more

Whitcomb Selinsky, PC

Wigs Plus, LLC, Files Appeal Against Denial of SDVOSB Certification

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On February 20, 2023, Wigs Plus L.L.C. filed an appeal against the Small Business Administration regarding the denial of their SDVOSB certification application. The SBA had determined that Wigs Plus L.L.C. did not meet the...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

Whitcomb Selinsky, PC

Silotech-Apex's Operating Agreement Challenged in SDVOSB Protest

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On May 25, 2023, Brandon Parker, a Contracting Officer from the U.S. Department of Veterans Affairs, filed a protest against Silotech-Apex JV, LLC (Silotech) challenging their Service-Disabled Veteran-Owned Small Business...more

Adams and Reese LLP

Vets to Ventures - From Battlefield to Boardroom: Applying Military Principles to the Business World

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“Vets to Ventures” features legal and business topics for service members transitioning to private sector. Adams and Reese Senior Policy Advisor Jeff Littlejohn – U.S. Naval Academy (1989-1993) and U.S. Navy Special...more

Ballard Spahr LLP

VA Addresses Assumption Fees

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The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-10, Change 1, Circular 26-24-5 and an Exhibit to address fees that may be imposed in connection with the assumption of a VA-guaranteed home loan....more

Whitcomb Selinsky, PC

SBA Upholds Size Determination for GC&V Construction, LLC in Appeal

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In February of 2023, GC&V Construction, LLC challenged a size determination that deemed the company ineligible as a small business. The basis for their appeal revolves around the claim that errors occurred during the Area...more

Troutman Pepper

VA to Revise Educational Institution Requirements Under the 2018 Veterans Benefits and Transition Act

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According to the Department of Veterans Affairs’ (VA) most recent regulatory agenda, it plans to finalize a proposed rule that would make significant changes to requirements applicable to educational institutions that enroll...more

Hissey, Mulderig & Friend, PLLC

Veterans Have Until August 2024 to File Claims Under Camp Lejeune Justice Act

The U.S. Navy and the Department of Justice have set a deadline of August 2024 for Camp Lejeune veterans who were diagnosed with cancer or other illnesses after serving at the marine base to file a claim and receive...more

Ballard Spahr LLP

VA Urges Servicers to Implement Foreclosure Moratorium on VA Loans

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The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-25 in which VA “is strongly encouraging a foreclosure moratorium on all VA-guaranteed loans through May 31, 2024.” Additionally, VA “urges servicers...more

Adams and Reese LLP

Vets to Ventures - Legal Intel for Veteran Entrepreneurs

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...What do Nike, FedEx, Enterprise, GoDaddy, and Esurance have in common? Their founders all served in the military. One out of 10 small businesses – 2.5 million businesses – are veteran-owned, and veterans are 45% more...more

Cozen O'Connor

Bipartisan Group of AGs Teams Up to GUARD Veterans

Cozen O'Connor on

A bipartisan coalition of 44 AGs wrote a letter to Congressional leaders urging the passage of the Governing Unaccredited Representatives Defrauding (GUARD) Veterans Affairs (VA) Benefits Act, which is intended to hold...more

Troutman Pepper

Important Policy Implications of Rudisill v. McDonough

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Introduction - In Rudisill v. McDonough, 55 F.4th 879 (Fed. Cir. 2022), the en banc U.S. Court of Appeals for the Federal Circuit broke the core promise of “GI Bills” for post-9/11 era veterans by, for the first time in...more

Orrick, Herrington & Sutcliffe LLP

VA reduces funding fee for certain loans

On February 14, the Department of Veterans Affairs announced a funding fee charge update for loans closed on or after April 7, 2023. According to Circular 26-23-06, funding fees are charged on VA transactions involving a home...more

Ballard Spahr LLP

VA Reduces the Funding Fee for Certain VA Loans

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In Circular 26-23-06, the U.S. Department of Veterans Affairs (VA) announced reduced funding fees for purchase, construction and cash-out refinance loans guaranteed by the VA that are closed on or after April 7, 2023. ...more

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