Longtime U.S. Department of Veterans Affairs (VA) executive and mortgage professional John Bell III announced on LinkedIn that he’s leaving his role as executive director of the VA’s Loan Guaranty Service (LGY).
Bell’s post on Monday touted his key accomplishments at the VA, such as increasing its mortgage market share from less than 1% to 14% and expanding its portfolio to $1.5 trillion.
“After three decades dedicated to mortgage finance, spanning roles in the private sector and VA Housing, today marks my final day at LGY,” the post read. “It has been an honor leading the exceptional team at LGY, and I am grateful for the chance to contribute to such meaningful work.”
The VA confirmed to HousingWire that Bell is now the executive director of the Office of Mission Support. Patrick Zondervan, who has been at the VA for nearly 25 years, succeeds Bell as the executive director for LGY.
Bell, a U.S. Navy veteran, had been at LGY since 2022 and spent 15 years at the VA. Per his LinkedIn post, he began his career in mortgage finance in college in Tennessee, and he held posts at various lenders. Before the VA, he oversaw Bank of America‘s VA loan portfolio for seven years.
During his time at the VA, Bell was instrumental in guiding the VA’s home loan arm through changes such as the recent passage of a foreclosure prevention bill to replace a post-pandemic servicing program.
He was also active in developing the Veterans Affairs Servicing Purchase (VASP) program’s attempts to prevent foreclosure actions against military members who continued to experience financial hardship due to the consequences of the COVID-19 pandemic.
The VASP program was abruptly discontinued by the VA when it stopped accepting new applicants on May 1.