United States Department
of Agriculture Rural Development
Contact: Alec Lloyd (517) 324-5204
EAST LANSING, June 12, 2007 USDA Rural Development today celebrated closing $2 billion in guaranteed home loans for Michigan residents and presented the thirteen top lenders with plaques to commemorate the event.
The ceremony was attended by USDA Rural Development National Director of the Single Family Guaranteed Loan Division Roger Glendenning, who congratulated employees and lenders on their accomplishment.
Michigans guaranteed portfolio has surpassed the $2 billion mark and your support of the program has taken us to new heights, said Glendenning, who flew in from Washington, D.C. to attend the event. I am very thankful to have the opportunity to honor our lending partners in Michigan because you are the key to our success.
Michigan leads the nation in administering the loan program, which has helped 25,450 families purchase their own homes since its inception. Representatives from the offices of U.S. Senators Carl Levin and Debbie Stabenow also attended, as did staff from Congressmen Mike Rogers and Tim Wahlberg.
We are truly helping more Michigan residents achieve the American dream of homeownership, said USDA Rural Development Director for Michigan Gene DeRossett.
The lenders honored at the event were: Amera Mortgage, Amerifirst Mortgage, American Southwest Mortgage, Chase Home Finance, Chemical Bank and Trust, Exchange Financial, Flagstar Bank, Mac-Clair Mortgage, Michigan State Housing Development Authority, National City Mortgage, Polaris Home Funding, Traverse Mortgage and Wells Fargo Home Mortgage.
USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity, liquidity, and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov/
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