USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements

usda-hb-3555-10-2

USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements.

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Verbatim provisions from USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

USDA HB-1-3555, Chapter 10, § 10.2 — Credit Eligibility Requirements

Effective 2025-05-05 · USDA chapter revision · Procedure Notice 640

Lenders must review the credit history of an applicant, as applicable, to determine an ability and willingness to meet their debt obligations. The following adverse credit items will render an applicant ineligible for a guaranteed loan: x Presently delinquent non-tax Federal debt; x Presently delinquent court ordered child support payments, subject to the collection by an administrative offset, unless the applicant has brought payments current, the debt is paid in full, or otherwise satisfied by a documented release of liability; x Presently delinquent court ordered child support, not subject to an administrative offset, unless the applicant has an approved repayment agreement in place with three timely payments made prior to loan closing, the arrearage is paid in full prior to loan closing, or a release of liability is documented; and x CAIVRS Claim: An applicant that will be a party to the loan does not have a clear “A” Credit Alert Verification Reporting System (CAIVRS) response. Refer to Attachment 10-A “Credit Matrix” for additional information. _____________________________________________________________________________ Guidance documents lack the force and effect of law, unless expressly authorized by statute or incorporated into a contract. USDA may not cite, use, or rely on any guidance that is not available through their guidance portal, except to establish historical facts.

Source: USDA HB-1-3555, Chapter 10, § 10.2 — Credit Eligibility Requirements · source URL · snapshot 0466acd1ea2d17a4

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Source of record: https://claudeforcompliance.com/regs/usda-hb-3555-10-2/ · register usda-hb-3555-10-2 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.