From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1525 topics, 14456 posts — Last Post 04/24/14, 05:44AM

BiggerPockets Exclusive PRO Area

117 topics, 841 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

10986 topics, 86570 posts — Last Post 04/24/14, 05:32AM

Real Estate Success Stories

399 topics, 6213 posts — Last Post 04/24/14, 01:08AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5993 topics, 47218 posts — Last Post 04/24/14, 05:24AM

Renters

650 topics, 5861 posts — Last Post 04/23/14, 07:39PM

Get Foreclosure Help - Help Stop Foreclosure Forum

317 topics, 2561 posts — Last Post 04/23/14, 08:28PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

658 topics, 6316 posts — Last Post 04/23/14, 09:50AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3709 topics, 29747 posts — Last Post 04/24/14, 05:07AM

Real Estate Guru, Book & Course Reviews and Discussions

1139 topics, 11600 posts — Last Post 04/24/14, 04:53AM

Ask About A Real Estate Company

743 topics, 7344 posts — Last Post 04/22/14, 11:25PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5637 topics, 43962 posts — Last Post 04/24/14, 05:22AM

Rehabbing and House Flipping

3353 topics, 31105 posts — Last Post 04/24/14, 05:49AM

Real Estate Development & New Home Construction

554 topics, 4694 posts — Last Post 04/22/14, 09:17PM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

867 topics, 6693 posts — Last Post 04/24/14, 03:16AM

Rent to Own a.k.a. Lease Purchase, Lease Options

699 topics, 4942 posts — Last Post 04/24/14, 05:49AM

1031 Exchanges

143 topics, 1062 posts — Last Post 04/22/14, 03:21PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1691 topics, 11313 posts — Last Post 04/22/14, 09:26PM

HUD, VA, and Tax Sales

416 topics, 3103 posts — Last Post 04/23/14, 02:29PM

REOs

1217 topics, 10603 posts — Last Post 04/23/14, 08:46PM

Short Sales

1539 topics, 13154 posts — Last Post 04/23/14, 08:25PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7252 topics, 71192 posts — Last Post 04/24/14, 05:46AM

Mobile Homes & Mobile Home Park Investing

639 topics, 5146 posts — Last Post 04/24/14, 05:13AM

Investor Basics

Starting Out

7733 topics, 60690 posts — Last Post 04/24/14, 05:41AM

Investor Psychology

431 topics, 6107 posts — Last Post 04/20/14, 06:04AM

General Real Estate Investing

4730 topics, 37326 posts — Last Post 04/24/14, 02:18AM

Real Estate Investor Marketing

1738 topics, 14148 posts — Last Post 04/23/14, 08:20PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1413 topics, 9013 posts — Last Post 04/24/14, 12:59AM

Multi-Family and Apartment Investing

1123 topics, 9396 posts — Last Post 04/24/14, 05:24AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

645 topics, 4913 posts — Last Post 04/24/14, 05:42AM

Business Basics

Goals, Business Plans & Entities

833 topics, 7585 posts — Last Post 04/23/14, 08:58PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2802 topics, 20136 posts — Last Post 04/23/14, 06:57PM

Property Insurance

311 topics, 2057 posts — Last Post 04/23/14, 01:20PM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2852 topics, 19848 posts — Last Post 04/24/14, 02:50AM

Creative Real Estate Financing

1221 topics, 8860 posts — Last Post 04/24/14, 02:09AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1216 topics, 8025 posts — Last Post 04/24/14, 05:37AM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1931 posts — Last Post 04/23/14, 09:04PM

Contractors

269 topics, 1690 posts — Last Post 04/22/14, 07:33AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2017 topics, 11758 posts — Last Post 04/23/14, 10:03PM

Americans & International Real Estate

162 topics, 572 posts — Last Post 04/24/14, 03:31AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

65 topics, 439 posts — Last Post 04/22/14, 09:27AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15085 topics, 54135 posts — Last Post 04/24/14, 04:15AM

Real Estate Events and Happenings

168 topics, 2606 posts — Last Post 04/23/14, 10:05PM

Off-Topic

Off Topic

Off-Topic

2907 topics, 32445 posts — Last Post 04/24/14, 05:30AM

Housing News & Real Estate Market

920 topics, 8391 posts — Last Post 04/23/14, 02:43PM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

BiggerPockets Resources

VA Vendee Lender

31 posts by 15 users

Signup

This topic has been locked by an administrator.

Real Estate Investor · La Jolla, California


Does anyone know who is making VA Vendee loans these days? I spoke with B of A and apparently they're no longer doing them and somehow didn't know who was taking over the program. They mentioned "Imperial Lending" or something like that but they seem to be hard money lenders.



Real Estate Investor · Springfield, Missouri


Try Ocwen Financial Corporation as they use to handel VA foreclosures. Wells Fargo provided Vendee Financing. Investors can pick up VA foreclosures with limited down (5% if I recall) and you don't need to be veteran to qualify.


Financexaminer@real estate investor dot com


Multi-family Investor · South Jordan, Utah


Per google, it looks like Vendor Resource Management (VRM) won the contract but I don't see much on their website. I'm going to try to give them a call tomorrow to get pre-qual'd. I didn't meet BoA's standards, maybe these are different! There's a few VA Homes I'd love to add as rentals.



Real Estate Investor · La Jolla, California


Thanks all. I called VRM and they confirmed that they are the new lender on this program. As of 5/7 it is suspended for a transition process from BofA to them but should be back soon (although they wouldn't give a date).



Landlord · Yorktown, Virginia


I just heard the time frame VRM is giving to start VA Vendee financing again is 1-2 months. Its a shame because i just found a great investment but dont want to risk waiting. Any one have any contacts there or know of another company involved? Thanks



Real Estate Investor · La Jolla, California


FYI for anyone checking out this thread: I talked to VRM today (7/11/12) and they said revised terms should be out in early August and they'll have LO's who can give more info/prequalify and they should be ready to lend mid-August.



SFR Investor · Orange County, California


More info:

http://www.vanewsblog.com/2012/07/va-loan-reader-question-what-happened-to-va-vendee-financing/

I wonder if this means BofA will no longer be providing the loan servicing for the VA Vendee home we purchased in 2010? That would be happy news.

BTW, all these companies, BofA, Ocwen, VRM, et. al., are NOT Vendee "lenders". The VA owns these homes and they are providing the financing, i.e., seller financing. The processing and administration for the Vendee program is what these other companies do.



· Monticello, Minnesota


Does anyone know what website they will use to list VA Vendee properties? I don't think equator is active anymore.



SFR Investor · Orange County, California


Originally posted by Mike Cartwright:
Does anyone know what website they will use to list VA Vendee properties? I don't think equator is active anymore.

Equator.com still works for me. However, there isn't any phone number to call as before.



· Acworth, Georgia


Originally posted by Mike Cartwright

Does anyone know what website they will use to list VA Vendee
properties? I don't think equator is active anymore.

It appears that new listings are no longer being added to the Equator.com website. The most recent listing date for my state, Georgia, is July 11.



· Acworth, Georgia


Originally posted by Mitch Kronowit

I wonder if this means BofA will no longer be providing the loan servicing for the VA Vendee home we purchased in 2010? That would be happy news.

I just got a notice yesterday from BAC that my Vendee loan for a house I bought in 2011 would be transferred to Residential Credit Services Inc.



Landlord · Yorktown, Virginia


Just like Brandon said, VRC also told me mid August. I found the best way to get a response was to email the marketing person. Now they are supposed to call me when its back up. Ill post if they do. Equator still worked last i checked.



Landlord · Yorktown, Virginia


FYI Mitch posted a link and in there 2 more web sites are added for properties, this will probably come in handy when equator site no longer works. http://www.homesales.gov and http://www.govsales.gov thanks Mitch!



Real Estate Investor · Lucas, Texas


I guess the VA foreclosures are stuck in the pipeline. Since BAC stopped doing Vendee financing the number of VA foreclosures in my area has completely dried up.



· Acworth, Georgia


The VA Vendee information page just changed.

http://www.benefits.va.gov/homeloans/pm.asp

VRM also has just launched their listings website:

http://listings.vrmco.com/



SFR Investor · Houston, Texas


Try http://va.equator.com/. The property listings are still being updated here.



Real Estate Investor · Ellicott City, Maryland


Originally posted by Bill Swatling:
The VA Vendee information page just changed.

http://www.benefits.va.gov/homeloans/pm.asp

VRM also has just launched their listings website:

http://listings.vrmco.com/

A friend of mine just had an email exchange with someone at VA who is involved in the VRM/Vendee cutover. Here is what the VA guy had to say about the status of the Vendee program:

"....There really is no news on vendee as yet. It remains on hiatus as the transition proceeds. VRM is just starting to list properties but any offers for these will have to be outside financed or cash until such time as vendee comes on line. I do not have a firm date for that at this time.

First priority right now is to get through the transition process and that is a big order. We are moving 6,000 properties from Bank of America to VRM next week. The balance of properties will be moved in mid-September."

Hope that helps...


Small_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Telephone: 770-906-6358
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


· Monticello, Minnesota


Thanks for the update on the site Bill. I am anxiously waiting to purchase another one of these properties. Hopefully they will get the financing for these homes running soon as well.



· Houston, Texas


I just called VRMCO about the VA vendee today, and they still don't have any update for this program. Do anybody knows when this va vendee program will start again or they will suspense it indefinitely.



Multi-family Investor · South Jordan, Utah


I checked their website today and see it's now down... per what's up, VRM will take it over 9/28...





Sign up