The Wholesale Lending Division of Carrington Mortgage Services, LLC (Carrington) today announced that it has been presented with the USDA Rural Development Award, and it was named a million dollar lender by USDA Rural Development Wisconsin State Director Stan Gruszynski. Carrington earned this distinguished recognition for supporting Wisconsin rural residents looking to become homeowners through the USDA Rural Development Guaranteed Rural Housing (GRH) Program.
In fiscal year 2014, Carrington helped moderate income families in Wisconsin use more than $1 million of GRH program funds by financing home purchases for borrowers participating in the program. Nearly 3,300 families across Wisconsin were able to purchase a home last year through the GRH loan program, totaling nearly $414.6 million.
“Working with our lending partners across the state, we’ve made a difference to those rural families prepared to realize the responsibility and benefits of owning a home,” said Gruszynski. “The last several years have been challenging for homebuyers in rural communities. By partnering with local lenders like Carrington we are able to leverage our resources and overcome financial barriers in order to help rural communities move forward. We value our partnership with Carrington and commend their achievement and contributions to meeting rural housing goals for Wisconsin.”
The Million Dollar Lender Award is awarded at four levels Million, Silver, Gold, and Platinum, based on the total amount of funding utilized by the lender; Million and Silver levels disbursed more than $1 million, Gold level disbursed more than $2 million, and Platinum level disbursed more than $5 million during the past year. Carrington was also named a 2014 Million Dollar Lender in Illinois.