In a recent milestone meeting, John Bell, III, the executive director of the VA’s Loan Guaranty Service (LGY), engaged with Veterans United Home Loans (VUHL), a reputable lender based in Columbia, Missouri. The purpose was to discuss how their collaboration could address current challenges in the housing market for Veterans.
Year-Long Commitment to Excellence: Bell’s visit marked the commencement of a year-long engagement with various industry stakeholders, all aimed at ensuring that the VA home loan program remains the top choice for Veterans. Notably, VUHL has an impressive track record, having successfully closed over 500,000 VA home loans over the past two decades.
Embracing Technological Advancements: At the heart of Bell’s address was a focus on continuous improvement through modernization efforts. He outlined the VA’s ongoing technological transformation to efficiently harness data, providing resources, certifications, and streamlined information to facilitate a smoother loan process.
LGY’s Shift to Service-Now: Bell highlighted LGY’s adoption of Service-Now, a customer service management application. This shift has resulted in an impressive 94% response rate within 48 hours, significantly enhancing communication and operational efficiency.
Education as a Key Theme: Education emerged as a recurring theme in Bell’s discussion, emphasizing the need to dispel misconceptions about VA loans, especially those lingering from decades past. Bell commended VUHL for its dedication to being well-informed about VA mortgages and providing friendly service to military homebuyers.
Commitment to Veterans: Bell expressed appreciation for VUHL’s commitment to making a genuine difference in Veterans’ lives daily. He underscored the importance of increased awareness and understanding, believing that it would enable more Veterans to take advantage of the VA home loan program.
VA Home Loans and Beyond: The blog also sheds light on how the VA supports Veterans’ homeownership through collaboration with industry lenders. It details various programs and benefits offered by the VA, including Purchase Loans, Cash Out Refinance loans, Interest Rate Reduction Refinance Loan (IRRRL), Native American Direct Loan (NADL) Program, and Adapted Housing Grants.
Additional Support Services: The blog further outlines the VA’s commitment to assisting Veterans in avoiding foreclosure during financial difficulties and highlights state resources available to Veterans, such as property tax reductions in certain states.
Eligibility Criteria: Clear information is provided on eligibility criteria, including recent expansions to include National Guard members with at least 90 days of active service. The blog details the requirements for Purchase Loans, Cash-Out Refinance, IRRRL, NADL, and Adapted Housing Grants.
This emphasizes the VA’s dedication to creating a smoother, more efficient, and welcoming environment for Veterans seeking to utilize their benefits. It encourages Veterans to explore the various programs and resources available, ensuring they can achieve their homeownership goals with the support of the VA and collaborative lenders like Veterans United Home Loans.
