VA Refunds More than $400 Million in Loan Fees
Housing Wire, Oct. 9, 2019–Kathleen Howley
Veterans who were eligible for a refund were contacted via letters sent in the U.S. mail, according to a statement Wednesday from the VA. Many of the errors were in loans to military veterans whose exemption status changed following the issuance of a disability rating after the closing of their mortgages, the VA said. Disabled veterans are exempt from the VA funding fee, which typically costs between 0.5 percent and 3.3 percent of the loan’s balance.
