Concerns Over VASP Compliance: MBA Calls for Extended Deadline and Clearer Guidelines - MBA Mortgage Minute by Adam DeSanctis
The Mortgage Bankers Association (MBA) has expressed concerns to the Veterans Affairs (VA) regarding the implementation timeline of the Veterans Affairs Servicing Purchase Program (VASP), highlighting the need for clearer guidance and an extended compliance deadline beyond October 1st. The MBA recommends setting clear expectations with veterans and providing servicers with six additional months to implement the program once complete guidance is available.