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August 2023 » thefivestar.com 29 August 2023 I N D U S T R Y U P D A T E U.S. DEPARTMENT OF AGRICULTURE NAMES GUILD MORTGAGE A TOP GUARANTEED RURAL HOUSING LENDER FOR 2023 G uild Mortgage, a growth-oriented mortgage lending company originat- ing and servicing residential loans since 1960, was recognized as a 2023 Top Guaranteed Rural Housing Lender in the Loan Origination category by the U.S. De- partment of Agriculture. Guild is the second largest originator of USDA loans nationally. Guild provides special financing opportu- nities to homebuyers who live in or would like to purchase a primary residence in rural areas as defined by USDA. These loans, also known as Rural Development loans, are de- signed to assist rural families and individuals with low-to-average income for their area. Through these loans, USDA provides 100% financing with reduced mortgage insurance premiums and below-market mortgage rates to help open the door to homeownership for rural Americans. "One of the many advantages of this government-backed loan is that it requires no down payment, which can help low-to-mod- erate income homebuyers overcome one of the most common hurdles to purchasing a home, which in turn helps provide stabil- ity for families and strengthens our rural communities," said David Battany, EVP of Capital Markets, Guild Mortgage. "While these loans are designed to assist homebuy- ers in rural areas, the USDA considers most of the country, including some suburban areas, as qualified rural areas. Guild remains dedicated to homebuyers who live or would like to live in rural areas and beyond, working with each of our customers to find the best solution for them." Battany, who spoke to the U.S. Senate Committee on Banking, Housing and Urban Affairs in September 2022, urged policy- makers to advance rural housing lending by addressing workflow, technology, and loan products. "The rural market is constrained by limited housing supply, much of which is aging single-family housing," Battany said. "Although small relative to the scale of the multitrillion-dollar mortgage market, rural housing loans are meaningful lifelines to eco- nomic security for the individuals they help and the communities they bolster." Headquartered in San Diego, Guild Mort- gage is a leading national lender with an es- tablished history of offering a comprehensive array of loan products and partnering with government organizations to help deliver the promise of home in every neighborhood and community. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking for a jumbo loan. Guild also helps active duty and retired military personnel who qualify for VA loans with 100% financing and flexible qualifying standards. The company is consistently recognized for its impact on the communities it serves, commitment to customer service, strength in regulatory compliance, and work- place culture. RISKSPAN TO DOUBLE HEADCOUNT IN INDIA TO SUPPORT ITS GROWING CLIENT BASE R iskSpan, a technology company, data management, and analytics for mortgage and structured products, has announced its plan to grow its Chennai, India office, increasing headcount by 50% over the next 12 months through its captive entity, KGP Tech Solutions. This marks an important milestone for RiskSpan as the company seeks to strengthen its presence and tap into the talent available in India. The India office will focus on supporting product development, client operations, analytics, and consulting services. With the expansion of its Chennai office, RiskSpan will be able to serve its customers more ef- fectively with deeper analytics solutions and enhanced consultancy services that include data management, modeling, forecasting, and valuation, in addition to its comprehen- sive cloud-based Edge Platform. Ganesh Prabu, RiskSpan's Managing Director of KGP Tech Solutions said, "We are extremely pleased to announce Risk- Span's expansion in India. In addition to our existing team of professionals, we are excited "The rural market is constrained by limited housing supply, much of which is aging single-family housing." —David Battany, EVP of Capital Markets, Guild Mortgage