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Celebration Highlights Success of Guaranteed Housing Waiver - KOAM TV 7

Celebration Highlights Success of Guaranteed Housing Waiver

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JOPLIN, MO, October 28, 2014 - Rural Development State Director Janie Dunning hosted an event in Joplin, Missouri today at the Joplin Area Chamber of Commerce. The event celebrated the success of the Guaranteed Rural Housing Waiver in contributing to recovery efforts from the devastating tornado experienced by the community on May 22, 2011.

State Director Dunning said, "The City of Joplin, along with Jasper and Newton Counties, has worked diligently to repair the damage done by the tornado. Community members and partners have faced the challenges of disaster recovery with determination and tenacity. It is an honor to be able to recognize these efforts and witness first-hand what can be accomplished through cooperation and coordination. The waiver allowed recovery to continue by providing another means to homeownership. Rural Development is proud to be a partner in rebuilding the city and counties."

During the event, State Director Dunning announced the expiration of the Guaranteed Rural Housing (GRH) Loan population waiver on September 30, 2014. The population waiver allowed eligible applicants to apply for loans to purchase an existing home or secure funds to construct a home throughout Jasper and Newton Counties. As a result of the waiver, 780 families and individuals became homeowners. An investment of $79,874,424.

Four (4) Rural Development GRH participating lenders were recognized by State Director Dunning. Those partners recognized were Guaranteed Housing lenders Community Bank and Trust, Arvest Bank, Premier Mortgage and Southwest Missouri Bank. In addition, Guaranteed Housing borrowers, Trevor and Jesse Davis, were recognized for use of the Guaranteed Rural Housing Loan Program to purchase a home.

USDA, through its Rural Development mission area, has an active portfolio of more than $202 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.

President Obama's historic investments in rural America have made our rural communities stronger. Under his leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way - strengthening America's economy, small towns and rural communities.

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