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Mortgage Servicers Loss Mitigation VA Loans

Alston & Bird

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

Alston & Bird on

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

Snell & Wilmer

New CFPB Rules Set Out Mortgage Servicer Requirements in Response to End of COVID-19 Foreclosure Moratorium

Snell & Wilmer on

The Consumer Financial Protection Bureau (“CFPB”) announced post-COVID-19 mortgage servicing rules that went into effect August 31, 2021 (“Rules”). The Rules are designed to protect borrowers from “avoidable foreclosures” 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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