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Pennsylvania Ag News Headlines |
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Rural Development Releases Top Housing Loan Lender List
Pennsylvania Ag Connection - 06/21/2017
The U.S. Department of Agriculture's (USDA) Rural Development agency has released its lists of top guaranteed housing lenders in the state of Pennsylvania for the year of 2017. These lists identify the top 10 lenders in pure loan volume throughout the state, as
well as the top lenders with the best underwriting quality- which is measured by the amount of loans that become delinquent in their first year.
In the category of total loan volume, Residential Mortgage Services took first place with a total of 288 loans created in 2017. An unlikely tie for second place occurred between Victorian Finance and Jersey Shore bank with 194 loans each, and GMH
Mortgage came in with 186 loans directly after that.
In the category of underwriting quality, Flagstar Bank was the top lender for 2017, followed by Franklin American, then West Penn Financial to round out the top three. All three of these banks had a delinquency rate of 0%, so total loan volume for each entity
decided the rankings after that. A complete list of top 10 lenders in each category can be found below.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; homeownership; community services such as schools,
public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov/pa.
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