USDA

USDA RD Eliminates Interest Rate Cap – Effective October 1, 2019

Written by: David Hail, Staff Writer A refreshing change has just occurred with the USDA loan. If you originate those loans you want to read through this article! Rule Synopsis: USDA has a rule in place that limits the rate cap on mortgage loans. This has been a costly impediment to low- to moderate-income borrowers [...]

2019-09-09T15:58:44-05:00September 10th, 2019|

USDA announced that they will require a $25 technology fee on every loan. This is not the lender’s requirement, it is a new fee implemented by USDA. The collection of this fee will be used to modernize USDA technology.

Related Article Title: USDA – NEW Technology Fee Being Implemented – Dated June 12, 2019 – Effective January 1, 2020 Written by: David Hail, Staff Writer USDA lenders, this is an important update just announced by USDA regarding required fees. Read through this article to find out all of the details. Rule Synopsis: On June [...]

2019-07-09T12:20:01-05:00July 10th, 2019|Social Media Posts, USDA|

USDA – Confusion regarding Chapter 9 Underwriting Rules

Written by: David Hail, Staff Writer Our USDA expert talked with the Washington DC office directly to clear up confusion caused by some guideline clarifications released this year. Find out what they had to say in this article. Rule Synopsis: USDA made some Chapter 9 revisions this year that resulted in confusion among lenders and [...]

2019-07-09T10:49:59-05:00July 10th, 2019|