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Article: A new and improved VA loan program: the VA Home Loan Guaranty program has been bringing vets the advantage of no-down-payment mortgages for years. This quietly successful program is making changes to make it an even more appealing alternative in today's market.(Cover Report: Origination Strategies)(Veterans Affairs)
- Article from:
- Mortgage Banking
- Article date:
- June 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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While the collapse of the subprime mortgage market has dominated recent headlines and national attention, leaders of the Department of Veterans Affairs (VA) Home Loan Guaranty program are quietly exploring a series of reforms to re-energize the national VA home loan program. With little fanfare or notice, Keith Pedigo, director of the VA Loan Guaranty Service, has set an ambitious agenda for growth and for the streamlining of the VA loan program for greater ease of use. [??] From an industry perspective, it's the classic tortoise-and-hare analogy. While subprime lenders are scrambling to recover after the rapid rise and fall of the subprime market, the VA home loan program ...