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Mortgage Servicers Department of Veterans Affairs VA Loans

Alston & Bird

VA Announces Wind Down of VASP Program and VA Home Retention Waterfall

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What Happened? On April 23, 2025, the U.S. Department of Veterans Affairs (VA) issued Circular 26-25-2 (the Circular), which announces that the VA’s Veterans Affairs Servicing Purchase (VASP) program is winding down. As of...more

Alston & Bird

Mortgage Servicers: VA Issues Guidance Regarding Noncompliance in Processing VA Assumptions

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A&B Abstract: On December 20, 2023, the Department of Veterans Affairs (VA) issued Circular 26-23-27 (the “Circular”) to remind holders and servicers of VA-guaranteed loans about their obligation to process assumptions and...more

Ballard Spahr LLP

VA Allows Deferments as Loss Mitigation Options for Borrowers with COVID-19 Forbearances

Ballard Spahr LLP on

In Loan Guaranty Circular 26-20-33, the U.S. Department of Veterans Affairs temporarily authorized the use of deferments as a loss mitigation option for borrowers with a COVID-19 forbearance....more

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