Welcome!

News Feed Item

VA Officials Enlist Realtors(R) to Recruit Home Appraisers

WASHINGTON, DC -- (Marketwired) -- 05/16/14 -- The Department of Veterans Affairs is taking steps to improve services for active and former military service members who are ready to buy a home, said officials from the VA Home Loan Guaranty program yesterday at an agency briefing for Realtors® during the Realtor® Party Convention & Trade Expo.

The VA Home Loan Guaranty program has guaranteed more than 20 million mortgages to American veterans, with a total loan volume of over one trillion dollars. Realtors® are strong supporters of this vital homeownership tool, which provides beneficiaries with a centralized, affordable and accessible method of purchasing homes.

"The VA would not be able to deliver the program to as many veterans without the help of Realtors®," said Mark Connors, Air Force veteran and VA's loan guaranty service lender liaison.

The agency is going through a massive transition to make its loan process more efficient for buyers and housing industry professionals, such as Realtors® and lenders. For example, an automated underwriting system is being evaluated to help make credit risk assessments more seamless.

"Once veterans sign a contract, the VA wants to get them in the home with the least amount of bumps in the road," said Zaneta Jones, VA supervisory loan specialist.

Jones also talked about the agency's new full file loan review system, which enables VA to cull and analyze data and identify systemic obstacles that should be reformed.

During the meeting, Realtors® expressed concerns that some of the VA loan requirements, such as pest inspections, disadvantage veterans because they may dissuade sellers from accepting offers that could potentially create additional fees, which cannot be paid by the homebuyer.

VA staff attorney Erica Lewis said the agency is studying the impact of the fees and may propose alternative regulations to amend the current structure. She also suggested that Realtors® request a waiver from the contracted property's nearest VA field office to excuse the buyer from a particular fee restriction if the parties believe it is a local requirement.

"The requirements stem from the idea that the loans, and structure of the loans, need to meet the needs of the users; the regulations are very protective," said Gerald Kifer, a veteran Marine and supervisory appraiser at the VA Central Office. "We want to see them happy. They deserve it. They've earned it."

Kifer also discussed his goals to speed up the appraisal process. "VA is the only agency that is required by law to maintain a panel of appraisers and assign work on a rotational basis," he said.

Now that demand for the program is increasing, the VA is looking to build up its pool of appraisers so that transactions won't be held up over scheduling delays. Kifer challenged Realtors® to encourage good appraisers to apply to and join the VA panel.

The VA Home Loan Guaranty program is a unique loan product that enables service members and their spouses to buy a home with no money down and no mortgage insurance payments. It also includes financial assistance for home modifications or to tide over an individual or family during a rough patch.

A Realtor® at the briefing said it best: "If you take the actual cost of the house and compare all the available loan products -- conventional, FHA and VA -- VA always wins. Once you understand how VA works, you'd be crazy not to take it."

For recaps of forums and the latest news from the conference, visit NAR's Realtor® Party Live website pages, http://live.blogs.realtor.org/, and on Twitter, https://twitter.com/RPCTE.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the "News, Blogs and Videos" tab on the website.

For further information contact:
Jenny Werwa
202-383-1193
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).