SFH Guaranteed Origination
December 23, 2020
New GUS and Redesigned URLA – Important Dates and Application Submission Instructions
The New Guaranteed Underwriting System (New GUS) will be implemented on March 1, 2021. In preparation, the Agency has established February 26, 2021 as the last day for the processing of existing loan applications in existing GUS (Legacy GUS). This date is subject to change and if it does, the agency will provide updated communication.
Preparing for the transition requires an understanding of USDA’s application processing changes leading up to the final implementation date. Lenders should be familiar with the dates and information below to help them transition to the New GUS.
GUS CONVERSION DATES:
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February 26, 2021 – At the close of business on this day, Legacy GUS will no longer be available for editing or processing applications. Legacy GUS will be made available to users in a view only capacity so that historical data is accessible for informational purposes for up to one year.
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February 27-28, 2021 – All Single Family Housing Guaranteed Loan Program (SFHGLP) systems will be unavailable as the transition to the New GUS is accomplished.
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March 1, 2021 – New GUS goes live. Existing applications in Legacy GUS that have not received a Conditional Commitment will require the application to be entered into New GUS. Note – users with access to Legacy GUS will automatically be granted the same access level to New GUS (no new login credential or user setup is required).
APPLICATION PROCESSING:
SFHGLP is receiving record volume and may not be able to review all applications submitted prior to the February 26th closing of Legacy GUS. However, USDA is committed to issuing a conditional commitment for all complete applications received by February 1, 2021. It is important to monitor the posted turn-times on our website to make the safest determination of your ability to receive a Conditional Commitment before the February 26th closing of Legacy GUS. (https://www.rd.usda.gov/page/sfh-guaranteed-lender)
If an application in Legacy GUS has not received a Conditional Commitment by the close of business on February 26, 2021, the application will need to be re-entered into New GUS. This can be accomplished by importing the FNMA DU MISMO 3.4 v1.8.1 XML file into New GUS or manually entering the application into New GUS.
THINGS TO KNOW:
- Applications entered in Legacy GUS will NOT migrate to New GUS.
- If on March 1, 2021 you still have USDA loans in process that were not originated utilizing the redesigned URLA, you can still submit those loans through New GUS by either importing in FNMA DU MISMO 3.4 v1.8.1 format; manually entering the application into New GUS; or, submit your application as a Manual Underwrite file.
- USDA Rural Development (RD) Single Family Housing (SFH) is already accepting the redesigned Uniform Residential Loan Application (URLA) FORM from all lenders that have begun production use of the new URLA form.
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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