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News Release
Release No. STELPRD4012844
ContactKrista Mettscher402-437-5518
Vicki Schurman402-437-5563
Printable Version  Printable Version
(OCTOBER 20, 2011) USDA RURAL DEVELOPMENT ANNOUNCES TOP 10 LENDERS, $1 MILLION AND $2 MILLION CLUB LENDERS

Lincoln, Nebraska, Oct 20, 2011 -- The Nebraska office of the U.S. Department of Agriculture (USDA) Rural Development has announced its top 10 approved lenders in lending activity for the guaranteed rural housing (GRH) loan program in the state for Fiscal Year 2011, and its $1 million and $2 million club lenders.

These lenders will be recognized by Rural Development and will receive a plaque acknowledging their activity in the GRH program, which has fostered rural homeownership in the state. In Fiscal Year 2011, 77 approved lenders participated in the GRH program and provided more than $105.8 million to assist 1,122 rural Nebraska households in achieving homeownership.

With continued low interest rates and no down payment requirements through the guaranteed rural housing program, Fiscal Year 2012 should be a strong year as well. Nebraska State Director Maxine Moul, USDA Rural Development said, "The strong partnership between USDA Rural Development and lenders enables us to provide affordable homeownership to rural Nebraskans. Housing not only allows families to invest in their future, but also generates economic activity that results in an increased tax base and supports jobs in rural communities. The GRH program is “budget neutral” which allows 100 percent financing to eligible applicants without relying on tax payer dollars to fund the program.”

The Top Ten Lenders include:

Charter West National Bank 158 loans $14,226,698

Platte Valley Bank 113 loans $11,181,403

Pinnacle Bank 62 loans $ 6,518,116

BankFirst 55 loans $ 5,099,521

Wells Fargo Bank, N.A. 50 loans $ 5,349,343

Cornerstone Bank 41 loans $ 3,058,983

Midwest Bank 39 loans $ 3,246,578

First National Bank & Trust Co. 36 loans $ 3,602,050

Elkhorn Valley Bank & Trust 31 loans $ 2,689,544

Lincoln Federal Savings Bank 31 loans $ 2,598,519

$2 Million Club Lenders are:

Washington County Bank $2,568,061

Farmers & Merchants Bank $2,331,734

U.S. Bank Home Mortgage $2,503,226

First Mortgage Company, LLC $2,014,494

First National Bank of Wahoo $2,185,684

$1 Million Club Lenders are:

Adams Bank and Trust $1,886,207

Security National Bank $1,550,850

Castle & Cooke Mortgage, LLC $1,973,796

Flagstar Bank $1,860,778

Valley Bank & Trust $1,282,500

Union Bank & Trust Co. $1,743,884

Professional Mortgage Services, Inc. $1,382,546

First State Bank – Scottsbluff $1,541,081

Great Western Bank $1,473,983

Mortgage Service III, LLC $1,538,955

Stonegate Mortgage Co. $1,364,034

BNC National Bank $1,150,296

First National Bank of Omaha $1,148,971

Through the GRH program, loan funds are provided by private lending institutions and guaranteed by the federal government. The program features no down payment to eligible income households and no maximum mortgage limits. Dwellings must be located in a rural community with a population of up to 20,000 and including Norfolk and Columbus.

Existing guaranteed or direct loan borrowers may refinance their home loans under the GRH loan program. This provides a borrower with an opportunity to obtain a possible lower interest rate.

For additional information on becoming an approved lender contact Krista Mettscher at USDA Rural Development, Rm. 152 100 Centennial Mall North, Lincoln, NE 68508, (402) 437-5518 or at krista.mettscher@ne.usda.gov. Visit www.rurdev.usda.gov/ne/.

Last Modified:08/16/2012 
 
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