On September 8, 2010, funding for the USDA Guaranteed Rural Development Program was restored nationwide.
As a result, Georgia Rural Development Field Offices will be completing the funding process for loans which received "Subject to" Conditional Commitments. This process will take priority over new file submissions. There are over 500+ "Subject to" files for the Georgia Rural Development Field Offices to process.
New loans will be held until all "Subject to" obligations have been completed. We have been advised that it will take the State of GA approximately 1 ½ to 2 weeks to complete the backlog of all files.
Many USDA RD files in processing with HomeStar were targeted to close approximately 2 weeks prior to the contractual dates. As of September 9, 2010, we expect all files to close according to the terms of the contract.
Jeff Wilmoth | HomeStar Financial Corporation...Serving all of Georgia!
848 Jesse Jewell Parkway Gainesville, GA 30501
Mortgage Loan Originator NMLS ID: 206798; HomeStar Financial Corporation NMLS ID: 70864; Georgia Residential Mortgagee Licensee #17368; Nationally Approved USDA lender USDA GRH program; FHA Lender ID - 897400009; VA - 64103600000