Top 10 Lenders, $1 Million and $2 Million Club Lenders

By: Courtesy: USDA Email
By: Courtesy: USDA Email

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.

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