"A Day in the Life as a Loan Officer in Redding California"... yet another great title. WOW! Has this been yet another unbelievable week in the Mortgage Business.

Just when you think you've heard it all.. USDA comes in with their own set of delays.  Not to worry, they are said to be worked out very soon.

The USDA Program runs on a fiscal year which just ended Sept 30, 08. Due to increased demand of the USDA 100% no MI program, all funds for 2008 were completely exhausted.  In past years, any funds remaining were rolled into the following year beginning Oct 1.  This year that just wasn't the case. 

President Bush has now signed what is being called the "Continuing Resolution" insuring the continuance of the USDA program for all of fiscal year 2009. The USDA program is on a year by year basis thus having to have presidential approval annually to stay a viable GSE.   

So all in all, USDA is alive and well and will be around through all of the fiscal year 2009.  This is a fantastic loan program for homebuyers, whether it is their first time buying or not.

Cindy Tomlinson
Loan Officer
USLending Company

Direct- 530-722-3150

Email- cindy@uslendingcompany.com

Visit my website @ www.realestateloanca.com