Suncrest Bank is hoping that its team of experienced executives, combined with organic growth and acquisitions, will help more than double its assets in the next few years.
The U.S. Department of Agriculture's Rural Housing Service is raising the cost of its home-loan guarantees that enable borrowers to purchase homes in certain areas without down payments.
Farmer Mac officials are confident about the stability and continued performance of the loans on their books, even as the agricultural industry faces headwinds like the California drought and recent decline in corn prices.
Farm banks have enjoyed several years of robust loan volume, but declining farm income has them on guard for increases in delinquencies and more eager to use government-guarantee programs.
In yet another revision of its mortgage rules, the Consumer Financial Protection Bureau proposed making it easier for small and rural lenders to make "qualified mortgages." Industry representatives said the changes are poised to make a big difference.
The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules.
