rural-development · Rural Housing Service · Rule · Published 2022-02-07 · Effective 2022-05-09 · 87 FR 6773
Document
Document number
2022-02467
Federal Register citation
87 FR 6773
CFR reference
7 CFR 3555
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2022-02-07
Effective date
2022-05-09
USDA docket
Docket No. RHS-20-SFH-0025
Abstract
The Rural Housing Service (RHS or Agency), is implementing changes to Single-Family Housing Guaranteed Loan Program (SFHGLP) to mandate the use of the Guaranteed Underwriting System (GUS) and the Lender Loan Closing System (LLC) by approved lenders. The Agency's mandated use of GUS in loan originations and the LLC for loan closings 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.