The military-civilian transition brings critical milestones for Veterans, including home ownership. Military service either covers or discounts home expenses so that service members may focus on the mission. Once out of the military, Veterans must quickly learn how to position themselves for home financing that meets new cost-of-living needs.
Unmatched customer service to help Veterans thrive
VA guarantees loans up to 25 percent to help banks bear the risk of servicing Veterans, who are new to loan markets and may not have comparable assets and credit as their civilian counterparts. The guarantees allow banks to offer favorable terms, including no down payment or mortgage insurance requirements – this helps keep Veterans financially stable and reduces defaults and foreclosure. The Veteran Benefits Administration (VBA) has been working to make its Loan Guarantee Service (LGY) even more responsive to the needs of banks and Veterans. A key challenge has been gaining greater visibility into the mortgage lifecycle – from finding a loan to final repayment.
New platform to transform home loan experience
Accenture helped VA overhaul and modernize VALERI (VA Loan Electronic Reporting Interface), a digital lending tool, using a Salesforce platform, that provides robust analytics capabilities and enhances both the mortgage partner and Veteran experience.
Accenture worked with LGY and VA’s Office of Information & Technology (OIT), to address some of the long-standing functionality challenges found in earlier versions of the tool. The cloud-based solution that Accenture delivered allows for more agility and enables VA to quickly and more easily make changes to improve service and updates based on regulatory or legislative changes. LGY’s data-driven decisions can be made in a fraction of the time and provide prompt assistance to Veterans if indicators of possible default or foreclosure arise.
Through VALERI, Accenture is helping VA improve outcomes for Veterans where it matters most—at home. Our unique partnership has granted us a peerless understanding of VA’s strategic vision and an unyielding desire to create new and Truly Bold solutions to help Veterans thrive.