Following moves to close the Veteran Affairs Servicing Purchase (VASP) program, a bill from a lawmaker who railed against it that seeks to reform the U.S. Department of Veterans Affairs (VA) home loan program with the addition of a partial claim option has picked up support from the Mortgage Bankers Association (MBA).

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Intercontinental Exchange‘s May 2025 Mortgage Monitor Report, released Monday, found that first-time homebuyers accounted for a record share of agency purchase lending (58%) in the first quarter 2025.

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Having telegraphed its impending end last month, the Veteran Affairs Servicing Purchase (VASP) program — which attempts to prevent foreclosure actions against military members who may be experiencing financial hardship due to the consequences of the COVID-19 pandemic — is officially over as of Thursday.

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