VA Vendee Mortgage Trust Program
March 5th, 2010
As reported recently in
National Mortgage News, The U.S. Department of Veterans Affairs is reinstating its Vendee Mortgage Trust program.
VA Hopes to Move REO With Old Program
The U.S. Department of Veterans Affairs is reinstating its Vendee Mortgage Trust program in an effort to move real estate that it foreclosed on. The trust was started in 1992 when the VA got full faith and credit. According to StucturedFinanceNews.com, an NMN affiliate, the program is backed by loans that were made to help sell REO properties that the government has acquired. The last deal under the program was done in 2008. The agency plans to begin issuing new deals under this full faith and credit program in April, and to come to market two to three times a year, depending on flow.
To view the online article, please click here
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.