A purchase lender with a large rural-loan book
Home purchases made up 84.9% of its lending. RHS loans (guaranteed by the Department of Agriculture's Rural Housing Service) were 6.1%, against 0.6% at similar lenders (independent non-bank lenders making between half and twice as many loans), higher than nearly all of them. FHA loans (insured by the Federal Housing Administration) were 34.7%, against 24.9%, and manufactured homes 7.5%, against 1.9%. Its typical loan, $235,000, was smaller than at about nine in ten similar lenders.