Nation: VA Reconsiders Limits on Fees

On April 13, 2017, the Department of Veterans Affairs (VA) released an advanced notice of proposed rulemaking regarding revisions to allowable charges and fees associated with VA guaranteed home loans. In recent years, the VA has received complaints from veterans and other stakeholders, including REALTORS®, that restrictions on the charges and fees VA Loan borrowers can pay in a home purchase transaction are hindering the ability of VA borrowers to compete with other buyers in today’s housing market. The VA is considering ways to revise the list of acceptable charges and fees while still protecting the VA borrower and is seeking public comment on how this should be done. Comments are due Jun. 12, 2017.