Bulletin W13-134 - Update, USDA Conditional Approvals with “Subject to the Availability of Commitment of Authority”

Topic included in Bulletin W13-134:

• USDA has announced their policy regarding Fiscal Year 2014 funding for Single Family Housing Guaranteed Loans
• During the process of starting up loan and grant activities for the Fiscal Year, Conditional Commitments will be issued “subject to commitment authority” until funds are available in the system
• During the transition, CMS will close all loans with a Conditional Commitments issued a “subject to” condition
• Eligible areas for USDA Rural Development Housing Program remain unchanged through January 15, 2014 barring further Congressional action
• USDA Up-Front and Annual Fees Structure will continue unchanged for Fiscal Year 2014
• Conditional Commitments issues without the “subject to” condition were eligible to be closed during the government shutdown and continue to be eligible for closing

Download: Bulletin - W13-134 (PDF)