A former director of the Department of Veterans Affairs home loan guarantee program has joined The Collingwood Group, a Washington consulting firm.
Keith Pedigo served as the VA loan director for 21 years until he was promoted in 2008 to a higher position within the department.
Before the leaving the loan guarantee program, Pedigo revamped and updated VA's servicing operations so VA staff could monitor servicersí performance electronically. VA loans have a very low delinquency rate compared to Federal Housing Administration-insured loans.
VA originations hit an all-time high in fiscal year 2013 as the agency guaranteed 629,300 single-family loans.
Former FHA commissioner Brian Montgomery founded The Collingwood Group, which offers advisory services for lenders that do business with the FHA, VA, Fannie Mae and Freddie Mac.
Pedigo says Collingwood is "unique in the financial services industry and in the area of government contracts in particular. Companies frequently talk about promoting small and diverse businesses in government contracting, but I am most impressed with Collingwood's efforts in support of the small, diverse, and veteran-owned business community."