Home Loan Practices and Veterans
A House Veterans' Affairs subcommittee held an oversight hearing on a type of home loan re-financing practice known as “churning,” which tar… read more
A House Veterans' Affairs subcommittee held an oversight hearing on a type of home loan re-financing practice known as “churning,” which targets veterans and service members. Committee members described the practice as troubling and deceptive and posed several questions on ways for better transparency in home loans, easy to understand disclosures, and the consequences for financial institutions found guilty of this practice. Witnesses included the director of the Department of Veterans Affairs Loan Guaranty Service and the executive vice president of the Government National Mortgage Association (Ginnie Mae). close
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Michael Bright Executive Vice President and Chief Operating Officer Government National Mortgage Association
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