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The hearing will come to order.

Good morning! This Oversight and Investigations Subcommittee hearing will examine the Department of Veterans Affairs’ Home Loan Guaranty Program.

The VA home loan program was established in 1944 with the World War II GI Bill. For more than 50 years, the zero down payment loan has enabled active duty military service members and veterans to purchase homes. The VA loan guaranty continues to be an important transition benefit provided to this Nation’s veterans.

We are particularly interested in the management and efficiency of the home loan program. On balance, the program appears to be operating to the benefit of the veteran and the taxpayer.

However, I have some questions that have been raised by the testimony of the VA Inspector General’s Office regarding the effective and aggressive oversight of lending institutions and contractors by the VA.

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