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Gary Lee Named Veterans United Home Loans Chief Technology Officer

Veterans United Home Loans, the nation's leading dedicated provider of VA loans, has named former Carfax executive Gary Lee as its first chief technology officer (CTO).

Lee will work with the Veterans United executive team to develop and implement company strategy and vision for the future. He will also help determine how to best utilize technological advances to better serve the company's short- and long-term goals.

"Gary's experience with a well-respected technology company will be extremely valuable," CEO Nate Long said. "His skills and knowledge will help us leverage evolving technologies to increase our position as an industry leader. That ultimately translates to providing even better service to veterans and military families."

Since its inception, Veterans United has developed proprietary software that has given it a competitive advantage within the industry. Lee will oversee advances to that software and take the lead in recruiting one of the most advanced teams of technology professionals in the country.

"I'm excited to join a rapidly growing company that's so firmly rooted in both technology and serving those who have served our country," Lee said. "Veterans United continues to push boundaries with its software and development initiatives, and I look forward to helping shape and position the company for the future."

Lee spent nine years at Carfax, the nation's most trusted provider of vehicle history information. As CTO there, he was responsible for all customer-facing technology.

Lee graduated from Purdue University and lives in Columbia with his wife and two daughters.

About Veterans United Home Loans

Headquartered in Columbia, Mo., Veterans United Home Loans is the largest dedicated VA purchase lender in the nation. More than 500,000 military families have turned to VA Mortgage Center.com for help with their VA home loan benefits. The company has secured more than $1 billion in VA funding in the last year alone.

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Veterans United Home Loans is not affiliated with any government agencies, including the VA.

Eligible Military Service Members and Veterans:
In general, eligiblity includes 181 days of peacetime service, 90 days war time service or 6 years in the reserve or National Guard. Some surviving spouses of veterans who died while in service or from a service-connected disability may also be eligible.
 
Learn More Get complete eligibility details »

Private Mortgage Insurance (PMI):
On most mortgages, borrowers who can't put down 20 percent of the loan amount are required to pay private mortgage insurance. It protects lenders against borrowers who default and also helps borrowers who can't muster a large down payment. There is no PMI on a VA loan.
 
Learn More How VA Loans are different »

Department of Veterans Affairs:
A branch of the federal government that administers a variety of services for veterans, including the VA Loan benefit.

Guaranty:
With VA Loans, the federal government backs each mortgage with a promise to repay the loan amount should a borrower fail to pay.

VA Jumbo Loan:
A loan that's larger than the limit allowed in a specific region. Jumbo loans are rather complicated; contact us to learn more.
 
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Certain Situations:
VA Loans can't be used to purchase second or vacation home or rental properties.

Interest Rate:
The amount a lender charges a borrower to borrow money.
 
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Funding Fee:
A mandatory fee paid to the VA assigned to all VA Loans. The funding fee amount can be financed, meaning the cost won't come out of your pocket at closing. Borrowers with a service-connected disability are exempt from paying the fee.
 
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Closing Costs:
Closing costs are the charges and fees associated with processing and finalizing a loan. With the VA Loan, there are predefined closing cost limits: a 1 percent lender origination fee, reasonable discount points and other reasonable and standard fees and charges.
 
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Zero Money Down:
When no down payment is required. The VA Loan is one of the only remaining loans that doesn't require any money up front for a down payment.
 
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