FHA, USDA, and VA Updates and COVID-19 Reminder
FHA COVID-19 Reminder
The FHA COVID-19 temporary requirement related to rental income and self-employment income expired as of case number assignments on or before September 30th, 2021. All FHA loans may now follow standard underwriting guidelines related to rental income and self-employment income requirements. Lenders must comply with the applicable requirements noted in the FHA 4000.1 SF Handbook and FLCBank FHA guidelines.
USDA Updates and COVID-19 Reminder
FLCBank is pleased to announce that the fiscal year 2022 funding for Rural Development’s Single-Family Housing Guaranteed Loan Program is now available. An updated Conditional Commitment will be electronically generated by the Agency to remove the “contingent upon the availability of an appropriation” language.
Furthermore, the USDA COVID-19 temporary requirement related to self-employment……