New VA Loan Rule Held Up: U.S....
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New VA Loan Rule Held Up: U.S. District Judge George H. Revercomb blocked the Department of Veterans Affairs from implementing a regulation next week on VA home loans that the mortgage industry says will leave it holding the bag more often when borrowers default. Revercomb said in his preliminary injunction that the VA appeared to have exceeded its authority when it added the cost of borrowing funds to its formula for determining the worth of foreclosed property. The regulations were to take effect today.
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