William Comer, deputy press secretary for Senator Thom Tillis, said that Tillis supports the VA Home Loan Reform Act and anticipates its enactment as a member of the Senate Veterans’ Affairs Committee.
“Senator Tillis looks forward to supporting this legislation in committee and on the Senate floor,” said Comer. “He remains committed to ensuring it reaches President Trump’s desk and is signed into law.”
According to Mortgage Technology, by the end of March 2025, serious delinquencies on VA-backed mortgages—defined as loans at least 90 days past due—had increased by 14% compared to the same period last year. This rise contributed approximately 60,000 loans to the seriously delinquent portfolio. The increase occurred amid the winding down of emergency protections, including the expiration of the VA Servicing Purchase (VASP) program. Concurrently, foreclosure inventories and completed foreclosure sales also rose as the VA lifted its voluntary moratorium that had temporarily protected many struggling borrowers from displacement.
In the first quarter of 2025, while the VA mortgage delinquency rate fell slightly to 4.63%, a more concerning trend emerged: the share of VA loans in active foreclosure climbed to 0.84%. This figure represents the highest foreclosure rate for VA loans since 2019 and marks the largest quarter-over-quarter increase in foreclosure starts since tracking began by the Mortgage Bankers Association in 1979. Experts say this reflects both the termination of pandemic-era support programs and a lack of long-term alternatives for veterans behind on payments, according to National Mortgage Professional.
The Mortgage Bankers Association reported that housing market analysts have warned about a steep rise in VA loan delinquencies and foreclosure starts directly linked to the expiration of key safety net programs. The VASP initiative, which previously allowed the VA to purchase defaulted loans and offer low interest rates, stopped accepting new applications in May 2025. Shortly afterward, the VA’s foreclosure moratorium ended. Without a successor program in place, servicers now report increasing difficulty in assisting veterans, leaving thousands vulnerable to foreclosure without a clear path to recovery.
Tillis has represented North Carolina in the U.S. Senate since 2015 and currently serves on several committees including Finance, Veterans’ Affairs, Banking & Housing, and Judiciary. A former executive at PricewaterhouseCoopers and IBM, Tillis began his public service career in local government before rising to Speaker of the North Carolina House and later joining the U.S. Senate.
Comer has served as Deputy Press Secretary for U.S. Senator Thom Tillis since October 2023. Before this role, he was a Press Assistant in the Senate and held communications roles in the U.S. House of Representatives with Congressman Lee Zeldin.
