NOTE: Our current review times are:
Application packages for approval submitted on: 11/19/13
Closing packages for Loan Note Guarantee issuance submitted on: 11/14/13
Loan applications should be submitted to: firstname.lastname@example.org
In order to reduce the time spent on processing incomplete or inaccurate applications, the Pennsylvania Rural Development team will be enforcing the following policy starting immediately:
Per 7 CFR Part 1980, subpart D, section 1980.354(b), if the request for a Conditional Commitment for loan note guarantee is incomplete, the reviewing loan specialists will inform you via email of the missing information. All requested documents or data are to be sent in ONE EMAIL to the reviewing specialist. If the information is not received within three (3) business days of the date of e-mail notification, the application will be withdrawn.
If an application is resubmitted due to incompleteness, it will only be put in line to be reviewed based on the date it was deemed complete, which will result in significant delays.
Withdrawn applications may be resubmitted to email@example.com. Please ensure that all supporting documents such as VOEs, appraisals, credit reports, etc. are still valid.
Requests for Rush Reviews can NOT be accommodated. The Code of Federal Regulations (CFR) 1980 subpart D, section 1980.353(a) requires complete applications to be considered by the Agency in the order received from Lenders. Due to the record volume of incoming loan files, we are no longer able to respond to loan review status inquiries. Although our processing time has been reduced to between 8 and 9 business days, lenders SHOULD NOT schedule loan closings until a signed Commitment from Rural Development is received.
Please note that when we are finishing or beginning a day of reviews that the previous day (or two) may still be in the process of being completed and not all of the commitments will be out of the system. Please realize there may be an extra day between when we have changed days and all of the commitments have been issued. DO NOT call or email the office until there has been time to process all of the commitments.
Lender Guide--FAQ's on Federal Guarantees for Rural Home Loans
Loan Closing Matrix
List of Approved Lenders
Statement On Non USDA Web Sites
USDA Rural Development has identified several lending websites that erroneously suggest that they are endorsed by USDA or serve as an official representative of USDA. While the sites have the appearance of being official USDA sites and provide information on USDA's single-family housing guaranteed loan program, they are not government web sites and are not affiliated with USDA. Some of these sites offer on-line application services. The public is encouraged to use extreme caution when providing personal or financial information to these or any other web sites that do not end in ".gov". Identified sites have been asked to remove the use of USDA logos and any implied USDA endorsement from their website.
USDA Rural Development certifies lending institutions that provide financing for single-family housing guaranteed loans. However, this certification should not be considered an endorsement of these lending institutions, nor should these lending institutions be considered representatives of USDA. Further information on USDA housing programs and office locations can be obtained by visiting the USDA Rural Development's website.