VA Ginnie Mae create task force to address mortgage refinancing issues
Official Blog of the U.S. Department of Veterans Affairs
The Government National Mortgage Association (Ginnie Mae) and VA announced the formation of the Joint Ginnie Mae – VA Refinance Loan Task Force.
The task force will focus on examining critical issues, important data and lender behaviors related to refinancing loans, and will determine what program and policy changes should be made by the agencies to ensure these loans do not pose an undue risk or burden to Veterans or the American taxpayer.
More specifically, the task force will examine aggressive and misleading refinancing propositions, as described by the Consumer Financial Protection Bureau , and will address loan churning and repeated refinancing.
Both agencies agree that VA and Ginnie Mae programs work best when they are used by market participants in ways that provide a benefit to Veteran borrowers and, ultimately, lower Veterans’ costs.
The task force has started its work by examining data and information to ensure loans provide a net tangible benefit to Veteran borrowers, and consider establishing time frames regarding recoupment of fees associated with refinancing loans.
It will also examine the impact of establishing stronger seasoning requirements for VA-guaranteed loans that are securitized into Ginnie Mae Mortgage Backed Security pools. Additionally, the task force will work to ensure Veterans understand the costs and benefits of refinancing, and ensure robust borrower outreach and education programs are augmented for this purpose.
Ginnie Mae and VA will arrange joint discussions with individual lenders whose demonstrated origination practices may negatively affect Veteran borrowers or increase program costs and risks.
The task force will continue to work collaboratively until concrete solutions have been implemented to eliminate lender behavior that is unhelpful to Veterans and harmful to the American taxpayer.
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Am interested in a direct home loan by VA
Hello to whom it may concern, my name is Sparks, Noah R. and I live at (redacted) Brown wood Tx. (redacted). I’ve tried repeatedly to get the medical help I need and was promised when I left college in 2003 to enlist in the Army and have received nothing but contempt, a general lack of compassion, highlt questionable treatment to put it mildly, I have witnessed Men (Veterans from WWII, Korea, and every conflict since) treated with outright disdain let alone the lack of medical responsibility that would be categorized as malpractice in a court, I know bc I’m discussing my case with lawyers presently although I don’t want to have to go that route bc I’m not a “sue” type, but after paying for highly expensive private care and meds when I certainly earned not only free VA care but more importantly intelligent care. I’m also curious about where my guarantee home loan no stands bc I have little doubt that’s probably nothing close to my contract I’ve kept for when I’m ready to apply for a mortgage? Please help me I can hardly work and yet I received only 10% disability bc although a nice man I’m sure, my Dr. at my compensation appointment after receiving my honorable discharge did not speak English very well at all and come to find out he wrote down the exact opposite of the symptoms I was experiencing at the time that have only gotten worse. Surely someone out there cares about us???? (Then again I’ve buried 3 of my brothers who took their own lives bc of a direct connection to their maltreatment or being ignored outright) A “psychologist” actually said my severe acute anxiety/panic disorder was a “phase” and took me off my meds ultimately costing me my job AND Fiancé. PLEASE HELP!!!