funding: USDA Mortgage Closings on HOLD Until Funding Has Been Restored - 10/06/11 03:25 PM
Under USDA’s fiscal calendar, annual USDA funding for fiscal year 2011 expired as of September 30, 2011.  Until such time as new funding is authorized, USDA offices will not be able to issue conditional commitments.
Most lenders will continue to originate and process USDA loans.  Actual closings will not occur on these USDA loans until such time as funding is restored and a commitment has been issued by the USDA office.  Loans currently approved with a previous commitment issued may be closed as scheduled and will not be impacted.
(6 comments)

funding: USDA Loan Volume - 08/07/11 01:55 PM
The US Department of Agriculture has plenty of funds left for Fiscal Year 2011.  The below announcement was released last week by the department.
 
August 4, 2011
 
GUARANTEED LOAN FUNDING UPDATE:   
OVER $11.2 BILLION DOLLARS AVAILABLE FOR GUARANTEED LOANS!
 
The Single Family Housing Guaranteed Loan Program (SFHGLP) was allocated $24 billion dollars for Fiscal Year 2011 (through September 30, 2011).  Due to tremendous support from our lending and real estate professional partners over $12 billion has been obligated nationwide.      
 
SERVE RURAL HOMEBUYERS!  While program demand and volume have heated up with the summer temperatures, … (3 comments)

 
Rodney Mason, VP of Mortgage Lending - AL, FL, GA, SC, & TN (Guaranteed Rate NMLS# 2611)

Rodney Mason

VP of Mortgage Lending - AL, FL, GA, SC, & TN

Atlanta, GA

More about me…

Guaranteed Rate NMLS# 2611

Address: 825 Juniper St NE, Atlanta, GA, 30308

Office: (404) 591-2453

Fax: (404) 601-8488

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