Trump administration kills VASP with one week notice 10,000+ veteran foreclosures follow

Despite warnings from the mortgage industry, the Trump administration terminates the VA Servicing Purchase (VASP) program effective May 1, 2025, giving mortgage servicers and VA staff just one week's notice. VA spokesman Pete Kasperowicz says the program was "unilaterally created by the Biden administration and lacks congressional authority." Veterans already enrolled keep their 2.5% rate. All others lose access. In the months that follow, more than 10,000 veterans lose their homes to foreclosure sales, according to ICE Mortgage Technology data.