The Department of Veterans Affairs is considering making changes to its fee limitations so that veterans can be more competitive in bids for homes.

VA’s Loan Guaranty Service is reviewing its regulations governing the allowable expenses that a veteran can pay or be charged in connection with obtaining a VA-guaranteed mortgage.

Allowable fees were first outlined in a rule published in 1948, which allowed customary fees, except some brokerage and service charges, to be paid from loan proceeds.


Source: Mortgage Daily