How mortgage brokers can tap into underserved VA markets

Mortgage brokers who are looking to better serve the veteran and active-duty military population through U.S. Department of Veterans Affairs (VA) loan programs have several opportunities for growth along with many factors to consider, according to panelists who spoke Thursday at an Association of Independent Mortgage Experts (AIME) event.Becoming a VA specialist offers plenty of rewards, but the job also comes with risks, said Gay Veale, president of Colorado-based Guidon Mortgage Co., who kicked off the panel discussion at the AIME Fuse conference in Austin.“If you mess up a veteran’s entitlement, you could affect their ability to use that really incredible mortgage tool — the best one out there, by the way — forever,” Veale said. Debunking the misconceptions Veale’s presentation centered on the findings of a white paper developed in partnership with Polygon Research. The impetus for the paper — which draws on 138 million records from the Home Mortgage Disclosure Act (HMDA) — began in 2020 as a way to counter public criticism, misinformation and discrimination about VA loans. “I can’t tell you how invaluable it’s been to me when I’m still today, in certain markets, facing discrimi...