Lowest risk loans? VA leading residential industry

Home loans guaranteed by the Department of Veterans Affairs continue to have the lowest serious delinquency and foreclosure rates in the mortgage industry.

Veterans have also taken advantage of their home loan benefit in record numbers, as VA loan originations reached their highest total in eight years.

According to the Mortgage Bankers Association National Delinquency Survey, VA’s foreclosure rate for the last 14 quarters and serious delinquency rate for the last 11 quarters have been the lowest of all measured loan types.

In fiscal year 2011, VA guaranteed 357,594 loans, an increase of nearly 14 percent over last year. There are currently over 1.5 million active VA home loans.

Veterans may obtain a certificate of eligibility and sign up for eBenefits through the web portal at www.ebenefits.va.gov. The Department of Defense and VA jointly developed the eBenefits portal as a single secure point of access for online benefit information and tools to perform multiple self-service functions such as checking the status of their claim.