USDA Rural Development’s Post

Jamshedpur Banks Urged to Boost Loan Disbursement and Scheme Implementation https://ift.tt/EOpBfUg District Advisory Committee Meeting Highlights Financial Performance and Government Initiatives Deputy Development Commissioner chairs crucial DLRC meeting, emphasizing the need for improved banking services and scheme execution. JAMSHEDPUR – A significant meeting of the District Advisory Committee and District Level Review Committee (DLRC) of banks was held at the Collectorate Auditorium on Wednesday, following directives from Deputy Commissioner Ananya Mittal. The meeting, chaired by the Deputy Development Commissioner, focused on reviewing financial performance and enhancing the implementation of government schemes. During the meeting, the Lead District Manager presented the financial accounts for the fourth quarter of the fiscal year 2023-2024. It was reported that the annual deposit loan ratio of banks had reached 49.64%, showing a slight increase from 49.05% in the previous year. Notably, out of a total of 8,40,021 Pradhan Mantri Jan Dhan Yojana accounts, 53,555 were opened with zero balance, while the Aadhaar seeding percentage stood at 88.49%. Focus on Government Schemes The Deputy Development Commissioner emphasized the importance of adhering to government-centric schemes and instructed banks to ensure prompt disbursement of loans for approved applications. He highlighted five key areas for improvement: agricultural loans within the priority sector, increase in deposit credit, and successful implementation of the Mudra Yojana, PMEGP, and PMFME schemes. Special attention was drawn to the ongoing CITIZENS CHOICE APY program, scheduled to run from June 5 to July 31, 2024. Improving Banking Services Bank officials were urged to expedite the processing of pending and approved loan applications, particularly those related to government schemes. The Commissioner called for banks to be more sensitive to the needs of eligible beneficiaries and ensure they receive the full benefits of these schemes. It was noted that some banks showed low performance in the priority sector, prompting a call for improvement. Instructions were given to accelerate loan distribution to sidewalk vendors through camp mode initiatives, in cooperation with urban bodies. Banks were also encouraged to provide financial assistance to self-employed individuals in rural areas. Financial Literacy Initiatives Regarding government scheme loans, banks were asked to offer clear information to applicants and ensure that any application rejections are justified. Furthermore, the organization of Financial Literacy Club camps for school children in rural areas and at Panchayat Bhawans was mandated. The meeting was attended by various officials, including the DM GIC, District Animal Husbandry Officer Dr. Surendra Kumar, District Fisheries Officer Alka Panna, RBI Ranchi representative Roshan Kumar Ghiriya, DDM NABARD, LDM, and coordinators from various banks. T...

VIDEO: The borrower is using a Rural Development loan to buy a fifty-acre flower farm. They say they will not farm the land after they buy it. Will a letter of explanation be sufficient to approve this loan? Watch Video Here: https://lnkd.in/ddYqHMMq ABOUT CAMPUSMORTGAGE: We offer instructor-led online mortgage training classes to students nationwide. Learn mortgage processing, underwriting, compliance, servicing, QC & more! Visit: www.CampusMortgage.org VIDEO CREATION DATE: June 03, 2024 DISCLAIMER: Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Copyright 2024 CampusMortgage. All Rights Reserved. #AskTheInstructor, #NAMP, #NAMU, #CampusMortgage, #Mortgage, #MortgageTips, #MortgageLending, #MortgageBanking, #MortgageIndustry, #MortgageUnderwriting, #MortgageProcessing, #Lending, #Banking, #MortgageUnderwriter, #MortgageProcessor, #ConventionalUnderwriting, #MortgageTraining, #MortgageProfessionals, #RealEstate, #Brokers, #LoanOfficers, #LoanOrigination, #MLO, #MortgageBrokers, #MortgageBankers, #LoanOriginator, #Realtor, #RealEstateInvestment, #RealEstateAgent, #FreeMortgageTraining

VIDEO: The borrower is using a Rural Development loan to buy a fifty-acre flower farm. They say they will not farm the land after they buy it. Will a letter of explanation be sufficient to approve this loan? Watch Video Here: https://lnkd.in/esJHRCDe ABOUT CAMPUSMORTGAGE: We offer instructor-led online mortgage training classes to students nationwide. Learn mortgage processing, underwriting, compliance, servicing, QC & more! Visit: www.CampusMortgage.org VIDEO CREATION DATE: June 03, 2024 DISCLAIMER: Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Copyright 2024 CampusMortgage. All Rights Reserved. #AskTheInstructor, #NAMP, #NAMU, #CampusMortgage, #Mortgage, #MortgageTips, #MortgageLending, #MortgageBanking, #MortgageIndustry, #MortgageUnderwriting, #MortgageProcessing, #Lending, #Banking, #MortgageUnderwriter, #MortgageProcessor, #ConventionalUnderwriting, #MortgageTraining, #MortgageProfessionals, #RealEstate, #Brokers, #LoanOfficers, #LoanOrigination, #MLO, #MortgageBrokers, #MortgageBankers, #LoanOriginator, #Realtor, #RealEstateInvestment, #RealEstateAgent, #FreeMortgageTraining

VIDEO: The borrower is using a Rural Development loan to buy a fifty-acre flower farm. They say they will not farm the land after they buy it. Will a letter of explanation be sufficient to approve this loan? Watch Video Here: https://lnkd.in/dmerqtBu ABOUT CAMPUSMORTGAGE: We offer instructor-led online mortgage training classes to students nationwide. Learn mortgage processing, underwriting, compliance, servicing, QC & more! Visit: www.CampusMortgage.org VIDEO CREATION DATE: June 03, 2024 DISCLAIMER: Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Copyright 2024 CampusMortgage. All Rights Reserved. #AskTheInstructor, #NAMP, #NAMU, #CampusMortgage, #Mortgage, #MortgageTips, #MortgageLending, #MortgageBanking, #MortgageIndustry, #MortgageUnderwriting, #MortgageProcessing, #Lending, #Banking, #MortgageUnderwriter, #MortgageProcessor, #ConventionalUnderwriting, #MortgageTraining, #MortgageProfessionals, #RealEstate, #Brokers, #LoanOfficers, #LoanOrigination, #MLO, #MortgageBrokers, #MortgageBankers, #LoanOriginator, #Realtor, #RealEstateInvestment, #RealEstateAgent, #FreeMortgageTraining

VIDEO: The borrower is using a Rural Development loan to buy a fifty-acre flower farm. They say they will not farm the land after they buy it. Will a letter of explanation be sufficient to approve this loan? Watch Video Here: https://lnkd.in/ef9gXzSX ABOUT CAMPUSMORTGAGE: We offer instructor-led online mortgage training classes to students nationwide. Learn mortgage processing, underwriting, compliance, servicing, QC & more! Visit: www.CampusMortgage.org VIDEO CREATION DATE: June 03, 2024 DISCLAIMER: Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Copyright 2024 CampusMortgage. All Rights Reserved. #AskTheInstructor, #NAMP, #NAMU, #CampusMortgage, #Mortgage, #MortgageTips, #MortgageLending, #MortgageBanking, #MortgageIndustry, #MortgageUnderwriting, #MortgageProcessing, #Lending, #Banking, #MortgageUnderwriter, #MortgageProcessor, #ConventionalUnderwriting, #MortgageTraining, #MortgageProfessionals, #RealEstate, #Brokers, #LoanOfficers, #LoanOrigination, #MLO, #MortgageBrokers, #MortgageBankers, #LoanOriginator, #Realtor, #RealEstateInvestment, #RealEstateAgent, #FreeMortgageTraining

I have a loan type I like to call the Cocoa Beach Florida loan-- It's an Asset Based loan where the borrower doesn't need a source of income. It's probably one of the easiest loan types i've ever completed, if you're looking for something similar, I notice the typical demographic is retirees & those who recently sold a property. There are 2 types of these asset-based loans: 1) Assets Only loans: 🔯Qualify when Assets > Loan amount + 60 months net loss on other owned properties 🔯NO DTI Calculated 🔯Best used for individuals with heavy debts on their credit report that couldn't qualify with Asset Allowance 2) Asset Allowance Loans: 🔯Qualifying Assets / 60 months (No distribution needed to be set up) 🔯DTI max of 50% 🔯Best used for individuals with low debts on their credit report who may want to mix this program with their Social Security or W2 job *NOTE: Both loans can go to 6 million loan amount on-sheet. If you're coming across something similar, just let me know. #nonqm #nonqmloans #Wholesalelending #JumboLoans Call/Text/Email 📞 (858) 519 - 5768 📨 Kwilson@fundloans.com IG: @MyGuyKai.W

VIDEO: The borrower is using a Rural Development loan to buy a fifty-acre flower farm. They say they will not farm the land after they buy it. Will a letter of explanation be sufficient to approve this loan? Watch Video Here: https://lnkd.in/gWrXmxWi ABOUT CAMPUSMORTGAGE: We offer instructor-led online mortgage training classes to students nationwide. Learn mortgage processing, underwriting, compliance, servicing, QC & more! Visit: www.CampusMortgage.org VIDEO CREATION DATE: June 03, 2024 DISCLAIMER: Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Copyright 2024 CampusMortgage. All Rights Reserved. #AskTheInstructor, #NAMP, #NAMU, #CampusMortgage, #Mortgage, #MortgageTips, #MortgageLending, #MortgageBanking, #MortgageIndustry, #MortgageUnderwriting, #MortgageProcessing, #Lending, #Banking, #MortgageUnderwriter, #MortgageProcessor, #ConventionalUnderwriting, #MortgageTraining, #MortgageProfessionals, #RealEstate, #Brokers, #LoanOfficers, #LoanOrigination, #MLO, #MortgageBrokers, #MortgageBankers, #LoanOriginator, #Realtor, #RealEstateInvestment, #RealEstateAgent, #FreeMortgageTraining

🏢🏠 Did you know you can build apartments with a USDA loan? The USDA has a long history of helping to increase the amount of housing in rural areas, and other zones where traditional developers are not building. The Section 538 program is low-cost money provided through a lender. The Section 515 program is low-cost money provided directly to developers. Per Freddie Mac, "The Section 538 program is designed to provide government guarantees on loans made for the development or preservation of affordable rural rental housing. Unlike USDA’s Section 515 loan program, the 538 program does not provide a direct loan, nor does it subsidize rents. Instead, USDA guarantees up to 90% of the total development cost or the property value, whichever is less. For-profit entities may borrow up to 90% and nonprofit entities may borrow up to 97% of the total development cost or appraised value, whichever is less. The USDA provides highly flexible loan terms and attractive pricing. Instead of having its own rent restriction agreement, the program requires a property to have some form of Land Use Restriction Agreement or other measure that preserves the affordability of the units, such as LIHTC, USDA Section 515, or HUD Section 8. The combination of multiple subsidy programs facilitates the preservation of rural multifamily housing where lenders may not otherwise be as active due to credit concerns and small loan sizes." As tertiary markets become more and more viable, these programs may be excellent options for investors. SOURCE 1 https://lnkd.in/eYKwYTXv SOURCE 2 https://lnkd.in/efrqyUvK #realestateinvestment #commercialrealestate #investinginrealestate #investing #roi #collaboration #airbnb #apartments #multifamily #safety #safe #howto #finance #financetips #tipsforsucess #tipsandtricks #cre #realestate #usda #lending #developer #housing #rural #builder #construction #invest #diversify

KANSAS CITY FED: AS INTEREST RATES CLIMB, FARM LENDING ACTIVITY AT COMMERCIAL BANKS SLOWED- Earlier this month, in an update from the Federal Reserve Bank of Kansas City (“Farm Lending Slows as Interest Rates Rise“), Nate Kauffman and Ty Kreitman indicated that, “Farm lending activity at commercial banks slowed through the first half of 2023 as interest rates continued to push higher. “The volume of non-real estate farm loans at commercial banks declined for the second consecutive quarter and average interest rates on agricultural loans increased for the sixth consecutive quarter. The rise in interest rates was generally consistent across loans and lenders of all sizes, but rates remained slightly lower for bigger loans and at the largest banks. As rate terms have moved up rapidly over the past year, variable rate notes have become more prevalent.” Kauffman and Kreitman pointed out that, “Agricultural lending has slowed as interest rates on farm loans have increased considerably. The median rate on non-real estate loans doubled from the beginning of 2021 and half of all new operating loans in the second quarter garnered a rate above 8.5%." Read more: https://lnkd.in/gTsKRU4F #agriculture #farming #interestrates #ruraleconomy #lending #loans

Types of Loans Available to Civil Servants in Kenya