In a letter congratulating AnnieMac Home Mortgage for winning the USDA Rural Development Lender of the Year Award for Fiscal Year 2017, USDA Housing Programs Director Michael Matthews states: “Your commitment has made our program grow and become very successful, and your contributions to the industry are much appreciated.”
VP of Collateral Valuation Wes Costello said AnnieMac has funded $14 million in USDA loans during the last fiscal year, which was the most in the lending industry by a wide margin. But Wes said the dollar volume tells only a fraction of the story.
“Part of what they took into account is engagement with the USDA and commitment to serving people in rural communities,” Wes said.
The USDA loan program is geared toward fostering the financial health of rural communities, with 100 percent financing, low rates, and low insurance costs.
According to Wes, the USDA recognized AnnieMac’s commitment to helping homeowners become aware of — and benefit from — the program.
For example, Licensed Mortgage Originator Dominick Guido of AnnieMac’s Wall, N.J., office made a personal project of helping parts of Bayville, N.J., become eligible for the program. He researched the guidelines, worked with Bayville’s mayor, and reached out to USDA officials — even leading them on a tour of the community.
“It’s a real benefit to the people of Bayville,” Wes said. “They have AnnieMac to thank for that, and specifically Dominick Guido.“