Rural Developments interim systems enhancements will be complete on September 8, 2010. at which time the agency will begin obligating section 502 Single Family Housing Guaranteed Loans. The systems enhancement's will:
* Phaseout the old 2 percent fee structure for purchase loan guarantee; *Allow for a new up-front of 3.5% as authorized by congress public law 111-212, sec 102(7/29/10); * Enable lenders with access to Rural Development's Guaranteed Underwriting system (GUS) to begin submitting new loan requests through GUS.
The first priority on September 8, 2010, will be for Rural … (2 comments)
Rural Development is funding again! I am so excited!!!!!
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