The Mortgage Bankers Association (MBA) urged the U.S. Department of Veterans Affairs (VA) to revise elements of its proposed partial claim and loss-mitigation policies for VA-backed mortgages, arguing that the draft rules could leave veteran borrowers at a disadvantage compared to others.

In a comment letter submitted Wednesday and addressed to Patrick Zondervan, executive director of the VA’s Loan Guaranty Service, MBA said the VA should simplify its proposed loss-mitigation waterfall to improve outcomes for borrowers while reducing costs for lenders and the loan guaranty program.

The letter responds to draft policies for implementing the VA Home Loan details ⇒

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