House Archives - Indiana USDA Mortgages

Did we mention? USDA IS BACK!

HR 4899 was passed today by the house in a version identical to the one passed in the Senate earlier this summer. The bill is now reconciled and will probably go to President Obama to sign into law sometime in the next two weeks . With that said, some lenders are taking applications and closing loans for USDA at this very moment. Many banks and mortgage companies are still waiting for the official USDA green light. There has been a lot of optimism about the bill eventually passing and including a method for USDA to continue funding for the remainder of the year. With that in mind, some investors are willing to hold those loans until this happens and seek funding at a later date. First Republic Mortgage is proud to offer USDA home loans right away! In...

House unanimously passes H.R. 5017 to save USDA financing!

PRESS RELEASE – Washington, DC – Today, the House Financial Services Committee unanimously passed H.R. 5017, the Rural Housing Preservation and Stabilization Act of 2010, introduced by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. This action clears the bill for consideration by the U.S. House of Representatives, which is expected to take up the bill as early as next week. The bill ensures the continued access of rural homebuyers to affordable mortgages through the U.S. Department of Agriculture’s (USDA) loan guarantee program. The financial crisis has spiked consumer interest in the program, tripling the number of loans annually made...

House to review USDA extension options

On Thursday, April 22, 2010 the House of Representatives’ Financial Services Committee will consider several housing-related bills, including H.R. 5017, a bill introduced on April 14 that would make additional funding available for the Section 502 guaranteed mortgage loan program in Fiscal Year 2010. The mark-up will be broadcast live online via the Committee’s website beginning at 10 a.m. Eastern time. H.R. 5017, named The Rural Housing Preservation and Stabilization Act of 2010, would authorize up to $30 billion for the Section 502 guarantee program this year. (It has no provisions on rental housing preservation and is not related to H.R. 2876, The Rural Housing Preservation Act of 2009, which has been subsumed into H.R. 4868.) The program is...