MBA Chairman Motley Testifies Today Before House Subcommittee on VA ‘Churning’

Mortgage Bankers Association Chairman David Motley, CMB, testifies before a House subcommittee this morning.

The hearing, Home Loan Churning Practices and How Veteran Homebuyers are Being Affected, will examine how home loan churning practices are affecting veterans, taxpayers and the value placed on VA home loans. The issue has gained higher visibility in Congress and the regulatory community in recent months as media reports have called attention to alleged mistreatment of veterans and concerns over the integrity of Ginnie Mae securities, which are partially backed by VA loans.

The hearing takes place at 10:00 a.m. ET in 334 Cannon House Office Building. MBA NewsLink will provide coverage. The hearing can be accessed live online at