I wanted to pass along this information from our local USDA office in North Fort Myers.
They are now taking 30 days to underwrite a file starting on files from 12/18 on. They were taking 10 to 15 days before today so this is not good news for any USDA buyer.
Hopefully you will be able to prepare your buyers and sellers for this long delay until USDA/Rural Housing can get caught up.
Here is the e-mail we received today.
From: Roy, Kristine - Royal Palm Beach, FL
To: Prioleau, Angela - Royal Palm Beach, FL
Sent: Mon Dec 28 12:14:11 2009
Subject: 30 Day Email to Lenders
Though we have taken every possible measure to process your Guaranteed Loan request, due to the extensive volume experienced, we will not be able to underwrite your request by December 31, 2009. The current turn time for underwriting is averaging 30 calendar days from the date of submittal.
We apologize for any inconvenience that this may have caused.
Sincerely,
Angela S. Prioleau
Area Director
Comments(2)