Loan production in 2011 for Rural Housing Services and Farm Service Agency loans grew more rapidly than any other residential loan type or program, according to a new origination data analysis conducted by the Mortgage Bankers Association (MBA).
The MBA analysis determined that new rural/farm loans for home purchase rose nearly 30% from 2010's level. In comparison, production levels for U.S. Department of Veterans Affairs loans were up nearly 6% for the same period, while new home purchases endorsed by Federal Housing Administration were down a substantial 20%.
The MBA also reports that rural and farm loan production volumes outnumbered conventional jumbo transactions in 2011 by about 8%.Â