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Statement on VA Announcement: No Interruption to Home Loans

January 10, 2014

Veterans will have continued and uninterrupted access to credit through VA home loans.

COLUMBIA, Mo. Veterans United Home Loans today released a statement from its president of strategic operations, Greg Steinhoff, on the Department of Veterans Affairs Loan Guaranty Services release of guidance that reaffirms Veterans will have continued and uninterrupted access to credit through VA home loans.

The information was released today by VA to clarify lender compliance with the Consumer Financial Protection Bureaus Ability-to-Repay and Qualified Mortgage rules: www.benefits.va.gov/homeloans/documents/circulars/26_14_1.pdf

"Veterans United Home Loans applauds VA for its timely efforts to reaffirm certainty that mortgages guaranteed through the VA home loan program will continue to provide access to homeownership for Americas heroes our Veterans and service members," Steinhoff said. VA loans lead the way in safety and security, and that has never been more evident than when we look at the programs track record during the recent economic downturn. This announcement further validates this earned benefit will continue to be an available and essential path for Veterans to access the American dream. VA's leadership role in the mortgage industry is clear. It's a role that sees VA at the forefront of safe and responsible lending in partnership with private industry. And, this is a partnership that ensures our Veterans, who on average have $7,000 in assets, grow in their awareness and use of a program where nine in 10 purchase without a down payment. VA loan volume hit an all-time record in 2013, and these efforts to protect Veteran's access to affordable credit are critical.

Veterans United Facts

  • $16.4 billion
    in loans financed in 2019
  • No. 17 on the 100 Best Companies to Work for List
    published by Great Place to Work and Fortune in 2020
  • More than $50 million
    raised for nonprofit charitable arm, Veterans United Foundation since Nov. 2011
  • More than 3,000 employees
    in more than 20 states

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Media Team

John Quin
Director of Communications, Veteran
(800) 814-1103 ext. 4540
john.quin@vu.com

Chris Cline
Senior Media Relations Specialist
(573) 817-4523
communications@vu.com

Meet The Expert

Chris Birk, Director of Education at Veterans United Chris Birk
Author, The Book on VA Loans

Chris is the nation’s leading expert on VA Loan benefits. He authored The Book on VA Loans in 2011, and maintains the VA Loans Insider blog. His analysis and articles have appeared at a host of sites and publications, including the Washington Post, The New York Times, the Wall Street Journal, ABC News, USA Today, the Houston Chronicle and more. Members of the media may request a free copy of The Book on VA Loans to learn more about the VA loan program.

See Chris' Bio »