VA secretary orders waiver of fee changes

COLUMBIA, S.C. (AP) — The U.S. Department of Veterans Affairs will waive fee changes that threatened deals on home mortgages with delays and higher costs.

The problem involves a Sept. 8 notice from the Department of Veterans Affairs loan operations that said rates would be lower beginning Saturday. Congress delayed that lower rate until November.

The change would have forced lenders who already had deals on home loans to increase the fee or pay it themselves. It could have taken longer to close mortgage deals because the fees changed the loan’s terms.

VA spokesman Josh Taylor said Saturday fee differences will be waived if veterans had closed loans at lower rates than required with new legislation.