SFH Guaranteed Origination
February 22, 2021
SINGLE FAMILY HOUSING GUARANTEED LOAN PROGRAM GUS TRANSITION UPDATE
LAST DAY FOR ASSURED CONDITIONAL COMMITMENTS
As previously communicated, USDA is committed to issuing Conditional Commitments on complete and accurate files submitted by February 12, 2021.
INCOMPLETE OR INACCURATE FILES
If USDA has released a file back to a lender that is incomplete or requires corrections, the lender will need to resubmit the file with all required information prior to the close of business February 24, 2021. This timeframe will provide adequate time for Agency review for possible consideration for a Conditional Commitment prior to close of business on February 26, 2021.
TRANSITION TO NEW GUS
Files:
As of close of business February 26, 2021, any previously submitted file without a Conditional Commitment issued will need to be submitted in New GUS beginning March 1, 2021.
Lenders may choose to submit manual files; however, they will be underwritten to the existing manual file standards which are more stringent than GUS underwriting standards. If a lender submitted a file in GUS prior to February 26, 2021 that received a GUS “Accept” finding and re-submits the file manually after February 26, 2021, the file could be rejected. We recommend that all file re-submissions be processed in GUS.
All files will be processed in the order they are received.
Signing in:
New GUS will continue to allow access by users who currently have access to the legacy GUS application. Users are not required to have “Verified” (Level 2) accounts at this time. However, users with non-verified (Level 1) e-Auth accounts will receive a banner notice to “Verify Identity Now” or to “Remind me later.” Users are encouraged to verify their identity; however, it is not required at this time. GUS will require users to have a verified account later this year.
SYSTEMS OUTAGE
ALL USDA SFHGLP systems will be unavailable from 6pm EST February 26, 2021 through 6am EST March 1, 2021.
USEFUL LINKS:
USDA LINC Training and Resource Library:
https://www.rd.usda.gov/programs-services/lenders/usda-linc-training-resource-library
SFHGLP Lending Partner Webpage: https://www.rd.usda.gov/page/sfh-guaranteed-lender
SFHGLP webpage: https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program
USDA URLA Frequently Asked Questions: https://www.rd.usda.gov/sites/default/files/RD-SFH-URLALenderFAQ.pdf
Procedure Notices: https://www.rd.usda.gov/resources/directives/procedures-notices
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