Lenders are hiring retail loan officers to handle the soaring demand for VA-guaranteed home loans led by lower interest rates.

Disabled veterans who were wrongly charged funding fees for their VA home loans will receive refunds totaling more than $400 million.

The Treasury has recommended Congress empower Ginnie Mae to provide “last position” guarantee on MBS backed by conventional home loans and au-thority to adjust its guarantee fee.

The Department of Veterans Affairs has issued guidance to mortgage servicers regarding the process of sending loss mitigation letters to borrowers who have fallen behind on their monthly payments. The guidance encourages servicers to work with distressed borrowers to avoid foreclosure.

The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.

Fueled by low rates, demand for FHA and VA refis was strong in the second quarter, although purchase loan originations for both programs hit the ceiling as well.

President Trump has signed into law the VA “orphan” bill to remove conflicting requirements that caused many VA refis to remain ineligible for delivery into Ginnie Mae pools.

VA has directed lenders not to advise veterans to close a loan without first verifying their exemption from paying the VA funding fee.