SFH Guaranteed Origination
January 28, 2020
ADVANCE COPY NOTICE UPDATE: HB-1-3555 Chapter 10 Credit Analysis
On December 19, 2019, a GovDelivery was issued by the Single-Family Housing Guaranteed Loan Program (SFHGLP) to announce the future revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis. The advance copy provided with the GovDelivery was stated to be available for a minimum of thirty days on USDA LINC’s Training and Resource Library for lender review and preparation pending the publication of the Procedure Notice (PN). The minimum thirty-day timeframe would expire January 21, 2019. This GovDelivery notice is to announce HB-1-3555 Chapter 10 publication through a PN has been delayed.
EFFECTIVE THE DATE OF THIS NOTICE, LENDERS ARE AUTHORIZED TO SUSPEND THE FOLLOWING:
- Credit Score Validation for GUS ACCEPT files
- Downgrade a GUS ACCEPT file with manually entered debts
Refer to Attachment 10-A “Credit Matrix” of the advance copy of Chapter 10.
All additional revisions to the revised HB-1-3555 Chapter 10 will continue to be pending publication of the PN. The SFHGLP will provide a new GovDelivery notice when the PN for HB-1-3555 Chapter 10 full publication is released.
Questions regarding this announcement may be directed to the National Office Division at sfhgld.program@usda.gov or (202) 720-1452.
Thank you for your support of the Single-Family Housing Guaranteed Loan Program!
Links to websites:
USDA LINC Training and Resource Library:
https://www.rd.usda.gov/programs-services/lenders/usda-linc-training-resource-library
Procedure Notices:
https://www.rd.usda.gov/resources/directives/procedures-notices
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