AC-020 USDA Various Updates
2023 Income Limits Published
The 2023 USDA eligibility income limits are in effect as of July 13, 2023, and can be accessed in the direct link imbedded in our guidelines: https://www.rd.usda.gov/sites/default/files/rd-grhlimitmap.pdf
Revisions to the SFHG Handbook 3555-1:
Chapter 3:
- Updates provide additional guidance for lender quality control plans where the lender is to contact USDA’s Loan Servicing Branch to report any lender approval violation and added specific guidance outlining the minimum requirements for a lender’s Quality Control plan.
- Revised the correct process for lenders to screen borrowing and property management entities from debarment and suspension.
Chapter 5:
- Added a paragraph and link to job aid instructions for uploading documentation for loan applications not supported by GUS (i.e. Streamline Assist).
- Clarified that prior to submitting the file for USDA review, the lender should verify all required documents have been successfully uploaded using the guidance from Attachment 15-A “Loan Origination Checklist”.
Chapter 15:
- Revisions were made to clarify the requirements for a Verification of Rent for manually underwritten loan applications.
- Added detail on manually underwritten loans on submitting loans manually using Job Aid to upload documents.
- Revised paragraph to clarify that the lender is responsible for informing the Agency when missing documentation has been uploaded and is ready to be assigned for a subsequent review.
Appendix 4:
- Updated the Help Desk to reflect its current name: Consolidated Help Desk Support Center.