Refinances of loans insured by the Department of Veterans Affairs declined in the second quarter, according to an Inside FHA/VA Lending analysis and ranking of endorsement data. (Includes three data tables.)
Lenders turned down 22.0% of applications received for FHA loans in 2025. The rejection rate on VA mortgages was a more modest 16.1%. (Includes data table.)
Many top correspondent sellers of government loans increased sales by the double-digits in 2025 compared to 2024, while top seller Veterans United saw a decline. (Includes data table.)