Home Buying in Hemet>Question Details

Jthurman, Home Buyer in Hemet

has any one ever heard of the underwriter sending a loan for a Usda Guarentee with out bank approval yet???

Asked by Jthurman, Hemet Wed Apr 11, 2012

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Loans only go to the USDA without a lender's underwriter approval if it's a USDA Direct or unless they require manual underwrite and the UTR is not delegated but that is very very very rare.

As you might already know there are two types of USDA Rural Development Loans, Guaranteed and Direct. For example we are Guaranteed, whereby I can go online into the GUS and get an AUS Approval subject to my UTR's final review. Once the UTR approves the loan, a skeleton file gets emailed to the USDA for final loan guarantee.
0 votes Thank Flag Link Wed Apr 11, 2012
Hello, yes indeed a USDA loan must get a
0 votes Thank Flag Link Wed Apr 11, 2012
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