Information for Guaranteed Single-Family Housing Lenders
Today is Friday, November 21, 2014
- We will do our best to provide daily updates on our status regarding conditional commitments and loan note guarantees.
Before calling our office or e-mailing for status updates, please first check our website to find out what day we
are currently working on. Thank you.
- **WHAT WE ARE DOING TODAY:
- 1. Intake from general e-mail box:
E-mails received November 20
2. Conditional Commitments:
Working files received November 17
3. Loan Note Guarantees: Working
received October 1
Please note: You can also get the above information by
calling our Auto Phone line - 651-602-7874
IMPORTANT MESSAGE FOR OUR LENDERS:
To implement regulation-related conversion
changes that will streamline processing and save you time and money, Rural
Development will not accept new Single Family Housing Guaranteed loan
applications from the close of business on November 21, 2014, through the start
of business on December 1, 2014.
Please limit all calls and
e-mails to those that are essential. We work through e-mails in the
order they are received and will respond as soon as possible.
Files are worked in the order they
FYI – we cannot and will not prioritize any files over others for any
reason! Please do not ask.
A file is "received"
when it is fully
complete and correct and that is when the file is placed "in line".
- Only one person should ever contact us regarding a file and that one person, should
be the Underwriter or the contact person listed on the 1980-21.
If you are already working with a Specialist on a file then that is who you should be talking to.
Do not call and/or e-mail multiple
people regarding one question or file!
As an approved lender it is your responsibility to submit a fully complete and correct package.
A place "in line" will not be saved by submitting an
incomplete file or a file with errors. Once we determine the file is fully complete and
correct, then the file will be placed in line.
Regarding complete files, please note that the RD 1980-21, "Request for Single Family Housing Loan Guarantee" form, is our required legal document and must be 100 percent complete and signed by both the Lender and the Borrower(s).
Additionally the required income calculation worksheet must
also be fully completed on all three pages. If not, your file is not considered complete and
will not be placed in line.
delays in receiving loan note guarantees, please ask your closing departments to review files and make sure they are
complete with all conditions met before submitting for review - this includes
the new closing process as well as the old. Thanks!!
- The newest version of the
dated February 2013 must be included with your packages, must be fully
complete, correct, and signed by the borrower(s) and lender. We can't process your file without all
4 pages of the form.
Contact and other Information
- E-mail address for credit packages and general
- Fax number for credit package submissions: (651) 602-7833.
- If mailing credit packages and/or funding fee checks, send to
USDA Rural Development, Attn: Guaranteed Single-Family Housing, 375 Jackson St., Suite 410, St. Paul, MN 55101.
- All questions should be directed to firstname.lastname@example.org
unless you have been working directly with a specialist. If you have been working with a specialist, then all questions, documentation, etc. should go directly to that specialist.
- Please note what day(s) we are working on for e-mails and files.
If your file was submitted after that, do not contact us regarding status of your files. Have only one person contact us so we don't end up with multiple people following up on the same issue. Don't call to ask us for a "rush" as all files are worked in the order that they are received
- Be sure to bookmark this page and check it daily for the latest updates. Refresh the page if it is not updated. We will try to have it updated by 8 a.m. every morning.