Derrick Van Orden: “Under the previous administration, the VA bought loans…”

“They did it contravening the will of Congress to the tune of $6 billion, projected to be 16 to $20 billion. Here's how incompetent the Veterans Administration was. Under the previous administration, the VA bought loans, lowered the interest rate to 2.5%. The rest of the American public paid for that because the lending institution was made whole.” (00:58–01:12)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.