Guaranteed Housing Program Increases Volume by 48% Despite Staffing Shortfall
LAS VEGAS, NV – June 22, 2012 – (RealEstateRama) — In celebration of June as Homeownership Month, USDA Rural Development Rural Housing Administrator Tammye Trevino today announced the top lenders, loan officers and realtors who work in the guaranteed 502 housing program. USDA RD has invested a total of $96.4 million in guaranteed loans between June 2011 and June 2012, assisting 676 low and moderate income families into homeownership.
Trevino, who has served as the Rural Housing Administrator since 2009, was in Las Vegas to participate in a Rural Housing and Refinance Roundtable and celebrate homeownership. “I am impressed that USDA RD in Nevada has increased their volume of guaranteed home loans 48 percent this year compared to last year,” Trevino said. “That is in spite of losing four housing staff. That is certainly a sign that USDA is running leaner, but still meeting the needs for rural housing.”
Guaranteed Section 502 loans are primarily used to help low- and moderate-income individuals or families purchase homes in rural areas. Eligible applicants must be able to afford the mortgage payments, including taxes and insurance. In addition, applicants must have reasonable credit histories. Loans can be made up to 100% of the value of the property to be purchased.
The top lenders based on volume in the USDA Rural Development guaranteed home loan program are PrimeLending, of Reno, with 124 loans, valued at $14.5 million, Guild Mortgage, of Minden, with 78 loans, valued at $11.6 million, and Greater Nevada Mortgage Services of Carson City with 77 loans, valued at $9.4 million, and Eagle Home Mortgage, of Winnemucca, with 68 loans, valued at $12.4 million. Thank you to these private lenders who participate in the RD program and support rural homeownership!
The top performing loan officers using the USDA RD guaranteed loan program are Dana Brown, of Eagle Home Mortgage in Winnemucca, with 25 home loans; William Shattack, of Community Home Finance in Fernley, with 24 home loans; with a tie between Tica Looper of PrimeLending, in Reno, and Shannon Keller, of Imortgage.com, in Las Vegas, with 23 originating loans each.
In the world of refinancing, USDA RD acknowledges the work of William Shattack, of Community Home Finance in Fernley, who refinanced six RD loans, and Lori Johnson, of City First Mortgage in Mesquite, who refinanced five RD loans.
Kelly Clark 775-887-1222 x130