Engaging with VA on increasing mortgage affordability

Joining together with other organizations,  America’s Credit Unions met Thursday with Department of Veterans Affairs (VA) officials to address mortgage affordability.

The meeting follows a joint letter outlining how the VA can tackle this concern when implementing the March Executive Order to increase mortgage affordability. The letter lists several areas the VA should prioritize, encouraging officials to:

• Align appraisal standards with government-sponsored enterprises Fannie Mae and Freddie Mac;
• Expand the use of alternative valuation methods, 
• Eliminate the five-year appraisal experience requirement. 

America’s Credit Unions remains engaged with VA and other regulators implementing the Executive Order and also joined a similar letter to the Department of Housing and Urban Development Thursday.