September 28th, 2018
Yesterday, the House passed a bill (H.R. 6737) protecting veterans’ loans so they can remain eligible for Ginnie Mae pooling. MBA President/CEO Robert Broeksmit said: "MBA would like to commend the House for passing last evening--by voice vote--H.R. 6737, which addresses an unintended consequence from the enactment of Title III of S.2155, ‘Protecting Veterans from Predatory Lending,' by allowing VA-guaranteed refinance loans to remain eligible for pooling in Ginnie Mae securities. More broadly, it will help to ensure the confidence in the VA home loan program that is necessary for it to remain a viable choice for the nation's service members and veterans."
This is a win for the VA and for veterans across the country.