A legislative proposal to charge veterans, servicemembers and military spouses more for a VA home loan is getting heat from lenders and the Department of Veterans Affairs itself. Testifying before the Senate Committee on Veterans Affairs last week, Paul Lawrence, VA undersecretary for benefits, warned that increasing VA loan fees would impose additional financial burdens on veterans who are trying to buy a home, making them more vulnerable to predatory lending. Fee-related proposals are included in H.R. 299, the Blue Water Navy Vietnam Veterans Act of 2017. The House of Representatives passed the bill by a vote of 382-0 in June and it is currently under consideration in the Senate. H.R. 229 would expand disability benefits to Vietnam veterans who were exposed to Agent Orange while serving on U.S. ships offshore or on the ground in Thailand and the Korean demilitarized ...
Two major banks and a defunct subsidiary of Lehman Brothers have agreed to settlements with the Department of Justice to resolve legacy non-agency MBS disputes.
After a brief hiatus while new management took over, the Consumer Financial Protection Bureau recently has resumed taking enforcement actions. Attorneys said the settlements look similar to those under the prior leadership, but the enforcement strategy is different.
After federal courts overturned the Consumer Financial Protection Bureau’s aggressive interpretation of the anti-kickback provisions in the Real Estate Settlement Procedures Act, lenders are more confident about forging marketing services agreements, industry experts said.
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