Important Reminder: Conditional Commitment Required Prior to Closing

USDA Rural Development sent this bulletin at 12/23/2024 08:00 AM EST

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USDA Rural Development - Together, America Prospers

SFH Guaranteed Origination

December 23, 2024

Important Reminder: Conditional Commitment Required Prior to Closing

The Single Family Housing Guaranteed Loan Program (SFHGLP) would like to remind lenders that closing a USDA Single Family Housing Guaranteed Loan prior to receipt of Form RD 3555-18, Conditional Commitment for Single Family Housing Loan Guarantee, from the Agency is a violation of the regulation found at 7 CFR 3555, Section 3555.107(f). Closing a loan prior to obtaining a Conditional Commitment from the Agency will result in the lender not receiving a Loan Note Guarantee (LNG) and may affect their approval status to participate in the program.

Please note, a loan recommendation from the Guaranteed Underwriting System (GUS) does not constitute the issuance of a Conditional Commitment.

Questions regarding program policy and this announcement may be directed to sfhgld.program@usda.gov or (833) 314-0168.

Thank you for supporting the Single-Family Housing Guaranteed Loan Program!

Help Resources

Rural Development Help Desk:

For GUS system, outage or functionality assistance

Email: RD.HD@USDA.GOV

Important Links:

SFHGLP Webpage: https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program

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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