This Thank You Thursday we express our appreciation to Congressman Raúl Grijalva, who wasted no time acting on an issue that is critical to Veterans housing matters.
We met with Congressman Grijalva as representatives of VAREP (Veterans Association of Real Estate Professionals) this past June. Our concern was that Veterans are entering into the mortgage process without being fully informed about the incredible benefits available to them through the VA.
Check boxes exist at the bottom of a mortgage application for fair comparison of costs involved with various types of mortgage loans. The VA Mortgage Loan is not included in the comparison process and often the Veteran is unaware of exactly what they would qualify for through the VA and what the cost would be because loan officers routinely fail to present the VA option.
On this Thank You Thursday we want to acknowledge Congressman Grijalva for spearheading the 45-member, bipartisan effort to correct this oversight and to ensure that Veterans are aware of their VA mortgage benefits. Thank You Sir, you listened, and you acted!
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Press Release from Congressman Grijalva’s office:
September 23, 2015
Press Contact
Dan Lindner (Grijalva) – (202) 225-2435
Grijalva Calls for Veterans Status Identifier on Uniform Residential Loan Applications Simple Step Would Ensure More Veterans Receive Benefits, Provide Data to Improve Veterans Services
WASHINGTON, DC – Congressman Raúl M. Grijalva (D-AZ) today led 45 of his Congressional colleagues in sending a pair of bipartisan letters to the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA), urging them to add a veteran status identifier on the uniform residential loan application to ensure more veterans are aware of VA home loan options.
“The men and women in our armed services earn benefits like the VA home loan option through their service to our nation,” Rep. Grijalva said. “But far too often, we fall short of delivering those benefits simply by failing to inform veterans about the opportunities available to them. Adding a veteran status identifier on the uniform residential loan application is a small step that we should take, as it will spur the conversations that will help ensure veterans get every benefit they’ve earned. It will also provide much-needed data on how many veterans obtain VA home loans, allowing us to analyze the program and make our veteran outreach more effective.”
Grijalva’s letter comes after a Veterans Administration (VA) survey found that 62 percent of older veterans and 25 percent of younger veterans said their lender never discussed the VA loan option with them.
“It is the lender’s responsibility to provide their clients with the full scope of their options,” Grijalva continued. “Benefits like zero down payments can have a tremendous impact on someone looking to buy their first house, and our veterans deserve to know if they’re eligible.
The full text of Rep. Grijalva’s letter is available here<http://grijalva.house.gov/uploads/VAHomeLoanLetterstoCFPB&FHFA.pdf>
