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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 64 July 2025 J O U R N A L avoid preventable foreclosures, and en- sure our most vulnerable veterans have a last resort option to continue paying their mortgage and keep their homes." As of May 1, 2025, the VA estimates that 71,981 VA home loans nationwide are deemed seriously delinquent (mort- gage payments that are 90 days past due). The top five states where VA loans are most delinquent include: • Texas with 8,504 delinquent VA loans • Florida with 8,052 delinquent VA loans • Georgia with 4,206 delinquent VA loans • California with 4,147 delinquent VA loans • North Carolina with 3,257 delinquent VA loans Donna Schmidt, Managing Director of DLS Servicing, said "This needs to pass as soon as possible. The House has already unanimously passed a similar bill, and the Senate must do the same. Our veterans deserve our prompt replacement of the overly expensive and difficult to complete VASP program. This gives the veteran borrower the same benefits already pro- vided to FHA and Rural Housing Service borrowers, and it is years overdue." The Veterans Housing Stability Act is endorsed by both the National Consumer Law Center (NCLC) and the Center for Responsible Lending (CRL). "The Veterans Housing Stability Act of 2025 clarifies the VA's authority to help Veteran borrowers who need as- sistance to save their homes," said Steve Sharpe, Senior Attorney at the NCLC. "The mortgage relief options available for Veteran borrowers are much less favorable than the options available to other borrowers, and that is unaccept- able. This bill will help close the gap." Mike Calhoun, President of the CRL added: "With the expiration of VASP, tens of thousands of veterans and their families are now at significant risk of losing their homes. The Veterans Housing Stability Act of 2025 would preserve veteran home- ownership and save government money by avoiding preventable foreclosures. Congress should enact the bill quickly." EDUCATING VETS ON HOME LOAN BENEFITS S ens. John Boozman and Chris Van Hollen have announced the introduction of the Veterans Af- fairs Loan Informed Disclosure (VALID) Act of 2025, a measure geared toward increasing awareness and utilization of Department of Veterans Affairs (VA) home loan benefits. According to Sens. Boozman and Van Hollen, providing potential home- buyers with a side-by-side comparison of conventional, Federal Housing Administration (FHA) and VA home loans, the VALID Act would ensure that veterans are properly equipped with financing options that include their eligibility for homebuying assistance. Reportedly, only 10%-15% of eligible veterans report utilizing VA home loans, and in some states, as low as 6%. The VALID Act would: • Update FHA mortgage disclosures to include VA home loans alongside FHA and conventional loan options; and • Ensure that lenders are provided with important information regard- ing applicant's military service so they can provide information about VA loans early in the homebuying process. "We should make certain veterans are aware they qualify for help with purchasing a home or realizing more savings over the life of a mortgage," said Sen. Boozman, a Senior Member of the Senate Veterans' Affairs Committee. "Since we know VA home loans are underutilized, there is a clear need to better identify this assistance earlier in the process. I am proud to join my colleagues in enhancing this earned benefit for our former servicemembers." Reps. Brittany Pettersen, Young Kim, Nikema Williams, and Harriet Hageman have introduced a companion bill in the U.S. House of Representatives. "Veterans put their lives on the line to protect our freedoms and, at the very least, deserve to know the benefits available to them. Anything less is un- acceptable," said Sen. Kim. "The VALID Act fully discloses the VA loan options available for veterans to use when buying a home. I'm proud to help lead this commonsense, bipartisan bill that ensures we have the backs of our brave men and women who had ours against global threats." Research has shown that one in 10 veterans have experienced home- lessness, often years after completing service and returning home. At the same time, rising housing costs and the current rate environment are preventing many veterans from achieving home- ownership. "While we can never fully repay the debt we owe to our veterans, we have a duty to support them when they return home," said Sen. Van Hollen. "The VA Home Loan has been helping service- members buy homes for over 80 years, but this funding resource remains se- verely underutilized by far too many of our veterans. This bipartisan legislation will help change that, ensuring more veterans and their families take advan- tage of the benefits they have earned." The Veterans Affairs Loan Informed Disclosure (VALID) Act of 2025 is endorsed by the Veterans Association of Real Estate Professionals (VAREP), Broker Action Coalition, and National Association of Realtors (NAR). "Our veterans put everything on the line to defend us, but far too often come home without the support they need," added Rep. Pettersen. "No veteran should miss out on a benefit they have earned simply because they didn't know it was an option. At a time when finding an affordable home is harder than ever, ensuring veterans have clear access to every funding resource available is critical. This legislation helps make homeownership possible and builds long-term stability for the brave men and women who've served our country."