Mortgage Bankers Association warns Congress ending VASP means mass veteran foreclosures

At a hearing before the House Committee on Veterans' Affairs, a representative from the Mortgage Bankers Association warns that shutting down the VASP program without a replacement already operational will mean "Foreclosure. Period." for tens of thousands of veterans. Senate Veterans' Affairs ranking member Richard Blumenthal calls on VA Secretary Doug Collins to preserve the program. As of April 1, 2025, 75,000 veterans have missed three or more payments on VA-backed mortgages. 17,000 are already enrolled in VASP.