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LENDER/SERVICER PROFILE GOVERNMENT AGENCY U.S. Department of Veterans Affairs key personnel Eric K. Shinseki company vitals Secretary Headquarters: Washington, D.C. W. Scott Gould Phone: 202.273.5400 Deputy Secretary Online: VA.gov Mike Frueh President George H. W. Bush established the U.S. Department of Veterans Affairs (VA) as a Cabinet-level position on March 15, 1989. The current incarnation of the VA stems from the creation of the Veterans Administration in 1930. The Veterans Administration sought to consolidate three different agencies previously serving veterans—the Veterans Bureau, the Bureau of Pensions of the Interior Department, and the National Home for Disabled Volunteer Soldiers. The first Administrator of Veterans Affairs was Brigadier General Frank T. Hines, who previously directed the Veterans Bureau. Today the VA, which is headquartered in Washington, D.C., is led by Secretary Eric K. Shinseki. Part of the benefits that the VA provides includes VA-backed loans. Those eligible for VA-backed loans include veterans, active duty personnel, reservists/ national guard members, and some surviving spouses. The VA is not a lender or servicer but a guarantor of loans made by private lenders to eligible participants. As such, the VA monitors actions by servicers in resolving loan defaults as well as reviewing and paying guaranty claims on terminated loans. The VA's primary mission on the servicing side is to assist veterans in retaining their homes when at all possible or mitigating losses when termination is inevitable. Acting Director, Loan Guaranty Service business summary * Portfolio Stats » Total residential portfolio: 1.57M active VA loans as of January 2012 Portfolio Growth Loan Count » 2012: 491,036 guaranteed » 2011: 357,594 guaranteed » Annual Change: +37.3% Unpaid Principal Balance (UPB) » UPB of new guarantees increased by $31.95B from 2011 to 2012 Delinquency Stats » 30-day delinquency rate: 3.1% » 60-day delinquency rate: 1.1% » 90+ day delinquency rate: 2.4% Loss Mitigation » 72,391 foreclosures prevented in 2012 » 66,030 foreclosures prevented in 2011 Foreclosure Stats » Foreclosure starts: 0.6% » Foreclosure inventory: 2.3% » Annual change in foreclosure inventory from 2011-2012: 28% REO Stats » REO holdings: 7,082 *The VA does not service loans; data based on the VA Guaranteed Home Loan Program and loans guaranteed as of Q3 2011 unless otherwise noted know this As of October 2012, the VA had guaranteed 20 million home loans since the inception of its lending program in 1944, according to the agency. company's l atest states in portfolio* Texas 199,117 Florida 108,686 Virginia 105,025 North Carolina 100,722 Georgia 83,147 *By loan count as of January 2012 90+ Day Delinquencies— Top Five States* Washington3.4% February 4, 2013 Vets Getting More Online Access to Benefits Information Improvements to the online functioning of eBenefits by the Departments of Veterans Affairs and Defense (DoD) means registered users will have more and secure access to a variety of military and Veterans benefits resources. "eBenefits is clearly becoming the platform of choice for veterans seeking access to the numerous benefits they have earned," said Undersecretary for Benefits Allison A. Hickey. "The increasing capabilities of eBenefits give veterans and servicemembers greater flexibility in securing the information they are looking for." The latest release — eBenefits 4.3 — allows for easy navigation of the online disability compensation claim submission process using interviewstyle questions and drop-down menus similar to tax-preparation software, instead of a traditional fill-in-the-blank form. It also pre-populates the application with information from a veteran's record in VA's secure database. Veterans can view processing times for each phase of their claim. —ConsumerAffairs.com November 12, 2012 Veterans Find Assistance with National Organization Some of the nation's treasures will be honored long past Veteran's Day. Neighborworks America has announced its commitment to helping veterans find affordable home solutions. "We know the many sacrifices veterans have made and the economic challenges they face when they return to civilian life," said NeighborWorks America CEO Eileen Fitzgerald in a statement. "Our NeighborWorks organizations are ensuring that veterans have the resources and tools to improve their lives." Sources: U.S. Department of Veterans Affairs, (2/1/2013) 98 Take a look inside the numbers —DSNews.com New Jersey 3.3% Indiana3.2% Mississippi3.1% Georgia3.1% *Percentage of total volume as of Q3 2011 2013 str ategy "VA encourages servicers to explore all loss mitigation options and earn incentives for successfully helping veterans retain their homes or avoid foreclosure." SWOT STATEMENT (Strength, Weakness, Opportunity, Threat) "The VA Loan Electronic Reporting Interface (VALERI) continues to provide up to the minute information on outstanding VA-guaranteed loans, enabling electronic reporting and claim submissions. VA's nationwide Loan Technician network reviews servicer performance and provides assistance to veterans and servicers in arranging loss mitigation options."