USDA updated their underwriting policy regarding changes in debt from the time of loan approval to loan closing. Now more than ever, it’s important that borrowers do not change their debt situation before loan closing, to prevent any delays in closing.

Related Article Title: USDA Rural Development Revises Data Tolerances Written by: David Hail, Staff Writer This is an important change to the USDA program that all USDA lenders need to read. Rule Synopsis: On October 4, 2019 USDA Rural Development issued Procedure Notice 529, which revised tolerance threshold on a borrower’s monthly debts as outlined […]

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