Saturday, August 8, 2020

USDA Rural Development Puerto Rico Announces Top Lenders Awards

By on July 2, 2020

Josué Rivera, state director, USDA Rural Development office in Puerto Rico (Courtesy)

SAN JUAN – The Puerto Rico State director of the U.S. Department of Agriculture (USDA) Rural Development, Josué E. Rivera, announced Wednesday the recipients of USDA’s Top Lenders Awards for Puerto Rico. 

USDA Rural Development celebrates June as its “Homeownership Month.” In 2020, the partnership between the agency and local lending institutions “has led to over 3,700 families acquiring homes,” the agency said. “USDA Rural Development values its partnership with the following awardees and recognizes their effort, commitment, and support for the Single-Family Housing Guaranteed Loan Program”:

  • First Bank of Puerto Rico received the 2020 Gold Award for providing $39,800,000 in financing. Luzmarie Vélez Miró, Senior Vice President and Mortgage Banking Director, accepted the award. 
  • Banco Popular de Puerto Rico received the 2020 Silver Award for providing $27,400,000 in financing. Silvio J. López, Senior Vice President and Mortgage Division Manager, accepted the award. 
  • The Money House, Inc.  received the 2020 Bronze Award for providing $15,800,000 in financing. Erick Haddock, Sales Senior Vice President, accepted the award. 
  • HR Mortgage earned the fourth place with $15,000,000 and Home Mortgage earned the fifth place with $11,600,000 in financing. 

“Our commitment to homeownership as a means for rural prosperity remains firm. Despite all the adversities of Fiscal Year 2020, USDA Rural Development has invested $446,883,724 in Puerto Rico to help 4,013 families buy their first home. The Agency has also provided $534,148 for home repairs to 79 families with very-low incomes. Also, we have invested $100,000 in Housing Preservation Grants to provide safe, clean, and decent homes to rural communities,” said State Director Josué E. Rivera.

USDA Rural Development provides loans and grants as part of its stated mission “to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas.”

For more information, visit www.rd.usda.gov/pr.

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