VA Policies and Programs
The VA home loan program allows servicemembers, veterans, and surviving spouses to obtain financing on favorable terms - such as no downpayment or mortgage insurance - as an earned benefit for their service.
Overview: The VA share of the single-family mortgage market has grown in recent years, and with this growth it has become even more important to ensure the program is running efficiently and effectively. MBA supports efforts to deter serial refinancing of VA-guaranteed mortgages, or "loan churning," as a way to better protect borrowers and preserve the integrity of the Ginnie Mae securities that are collateralized by VA loans. MBA also continues to oppose proposals that would increase the cost of credit for VA borrowers to generate funds to be used for non-housing purposes.
Recent MBA Activity Related to VA Policies and Programs
- Letter: Industry Observations Regarding Solicitations for VA Refinances (June 26, 2019)
- Comment Letter: Response to Ginnie Mae RFI on VA Cash-Out Refinances (May 31, 2019)
- Letter: MBA on Support for H.R. 1988, the Protecting Affordable Mortgages for Veterans Act of 2019 (April 4, 2019)
- Comment Letter: MBA to VA on New Protections for Cash-Out Refinance Loans (February 15, 2019)
- Comment Letter: MBA to VA on Cash-out Refinance Disclosures (January 24, 2019)
- Letter: MBA to Congress on Support for Protect Affordable Mortgages for Veterans Act (September 25, 2018)
- Testimony: MBA to Senate Committee on Veterans Affairs regarding Blue Water Navy Vietnam Veterans Act (August 1, 2018)
- Letter: MBA to HUD on Loan Seasoning for Ginnie Mae MBS (July 12, 2018)