SFH Guaranteed Origination
February 10, 2022
(Corrected) USDA Final Rule - Mandatory Use of the Guaranteed Underwriting System and Lender Loan Closing System
On November 17, 2020, a Proposed Rule was published in the Federal Register to mandate the use of the Agency’s Guaranteed Underwriting System (GUS) and Lender Loan Closing System (LLC) for all approved Single Family Housing Guaranteed Loan Program (SFHGLP) lenders. Comments were accepted until January 19, 2021.
The Final Rule was published in the Federal Register on February 7th, 2022 with an effective date of April May 9th, 2022. This Rule will allow the Agency to decrease time-consuming and expensive manual file reviews, improve performance monitoring, and reduce program risk of the guaranteed loan portfolio.
Questions regarding program policy and this announcement may be directed to the National Office at sfhgld.program@usda.gov or (202) 720-1452.
Thank you for your support of the Single-Family Housing Guaranteed Loan Program!
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