On Sunday, September 4, 2011, a firestorm known as the Bastrop County Complex Fire engulfed Bastrop, Texas, located just 25 miles east of Austin. By September 30, the fire had destroyed 1,645 homes, burned 34,000 acres, and killed two people. It is now regarded as the most catastrophic wildfire in Texas history and has set a somber state record for the most homes lost in a single fire.
Ned Stinson and his family applied for a USDA Rural Development Guaranteed Home Loan in August with DHI Mortgage, a national approved lender in Austin, Texas. During the processing and underwriting of the loan, their rental home was destroyed by the wildfires. The family suddenly faced the reality of having no place to live until the loan closed on their new DR Horton built home in the Hunters Crossing Subdivision, which thankfully had been spared from the relentless fires.
After receiving news of their situation, Nicholas Koshell, a loan originator with DHI Mortgage, contacted Scooter Brockette, Rural Development Housing Programs Director at the Texas State Office, to request special consideration due to the dire circumstances the Stinson family was facing.
Within ten minutes, Jaki Polich, Rural Development Housing Specialist, was gathering loan specifics to expedite the approval process and was able to provide the commitment within one hour from the initial phone conversation, while it would have normally been given a window of 15 business days to be processed.
“As a loan originator who regularly uses the USDA loan product for my borrowers, on behalf of myself, DHI Mortgage and DR Horton, I sincerely appreciate the compassion and kindness shown to Ned Stinson by USDA Rural Development,” stated Mr. Koshell.
USDA Rural Development is aware that the Central Texas Wildfires have had far-reaching effects and significant impacts on families and communities. We are dedicated to providing assistance to those affected by this tragic natural disaster.
To learn more about disaster assistance available to rural residents, click here.