Summer has finally arrived and with its arrival Iowa has seen more than its fair share of Mother Nature's fury. Our thoughts go out to those impacted by the tornados in Northeastern and Western Iowa as well as the flooding in central and eastern Iowa. Through these tragedies we are again reminded how fortunate we are to live in a place with so much generosity and willingness to help out a fellow neighbor. As Governor Culver said at his press conference last Saturday, "Iowan's will come out of this much stronger and more united than ever before."

With the weather taking up so much of the headlines recently, it is easy to forget what is going on with the IMA. I'll try to update you the best I can and let you know what your association is doing on your behalf.

All of the committees continue to work hard. As always, we continue to value your support and input. If you have an idea or suggestion for the committees, don't hesitate to call me or any of the committee chairs. Also, if you have suggestions for new members let us know and we will gladly follow up.

The communications committee has been especially busy recently. By the time you read this, our first IMA advertisement will have been in several major Iowa newspapers. We will have also hosted our fifth annual spring golf and networking outing in the Des Moines area. Plans are also in the works for our first ever networking event in Sioux City on June 23rd.

Lenders recognized this month include:

Decorah Bank and Trust, Community Savings Bank in Manchester, Bank Iowa in Newton and MJ Mortgage in Glenwood for using Rural Development's guaranteed home loan program.

1st Choice Mortgage in Cedar Rapids, Great Midwest Mortgage in Maquoketa and Clare County State Bank in Osceola as new lenders to Rural Development's program.

Along with these recognition events Rural Development also hosted lender training sessions in Boone, Mount Pleasant, Spirit Lake, Urbandale, Council Bluffs and Waverly.

Last year, Rural Development assisted more than 1,200 Iowa families in becoming homeowners. Each year the agency invests around $100 million in loans and grants that provide rural Iowa residents with decent, safe and sanitary single and multi-family housing.

"While rural economic development can mean so many things, at its foundation is a community's ability to provide residents with decent, safe and affordable housing," said Mark Reisinger, USDA Rural Development State Director in Iowa.

Rural Development's Guaranteed Loan Program provides 100 percent financing and is for moderate-income individuals. This program is administrated by a local lender who takes the application, processes it and determines the acceptability of the home to be financed. Last year lenders accessed more than $61million in guaranteed funds for home loans in Iowa.

The agency's Direct Loan Program helps very low income individuals buy homes in communities with 20,000 people or less. There is no down payment required.

Grassley’s office has invited more than 35 lenders as well as mortgage and credit counselors from the Des Moines area who will be on hand to answer questions. Grassley has also secured the participation of the Department of Housing and Urban Development and the Iowa Home Ownership Education Project in conjunction with Iowa Mediation Services will both participate.

“The dream of home ownership is being threatened by increasing foreclosure rates. One of the most productive ways to keep families in their homes is to have dialogue between the homeowner and the lender,” Sen. Grassley said. “A lot of good can come out of simply talking to lenders and counselors. This fair will provide Iowans the opportunity to sit down with experts who can work through issues and help avoid foreclosure.”