ICYMI: Washington Post: At Braley's request, Vets Affairs Committee launches probe into veteran loan fraud allegations Print
News Releases - Military & Veterans News
Written by Jeff Giertz   
Monday, 17 October 2011 13:10

In case you missed it...

Responding to Rep. Bruce Braley's request, the House Veterans Affairs committee has launched an investigation into allegations that some of the largest banks and mortgage companies in the country have systematically charged veterans illegal home loan fees in violation of VA regulations, potentially defrauding veterans and taxpayers out of hundreds of millions of dollars.

A copy of Braley's call for a committee probe (sent this Wednesday) and Chairman Miller's response is attached to this email.

Washington Post: Committee probes alleged loan fraud against vets

10/14/2011

The chairman of the House Veterans’ Affairs Committee ordered his staff to begin an investigation Friday into allegations that some of the nation’s largest lending institutions have cheated veterans and taxpayers out of hundreds of millions of dollars by charging illegal fees in home refinancing loans.  [...]

“I will reserve judgment on the appropriate next course of action, to include the potential for a full Committee hearing, after having the opportunity to review the results of the staff investigation,” Rep. Jeff Miller, (R-Fla.), chairman of the committee, wrote in a letter Friday to Rep. Bruce Braley, (D-Iowa), the ranking member of the committee’s subcommittee on economic opportunity.

Braley on Wednesday requested the committee hold a hearing to examine the allegations. “It is disconcerting that charges have arisen that banks are not following rules governing fees that can be charged for refinancing loans,” Braley wrote in a letter to Miller.