USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶15.3 — Loan Application Package

USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶15.3 — Loan Application Package

15.3 LOAN APPLICATION PACKAGE A. Manually Underwritten Loans Manually underwritten loans are defined as: HB-1-3555 (03-09-16) SPECIAL PN 15-2 Revised (08-05-25) PN 694 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. x GUS applications that receive an underwriting recommendation of “Refer” or “Refer with Caution.” o These loan applications are submitted as final in GUS and based on the GUS recommendation, must be manually underwritten by the lender’s underwriter. o Additional documentation, in accordance with Attachment 15-A, must be provided to the Agency along with the request for a Conditional Commitment. B. Manually Submitted Loans Manually submitted loans are defined as: x Any loan type that is unsupported by GUS, including Streamlined Assist Refinance transactions and select pilot programs. o These loan applications must be manually underwritten by the lender’s underwriter. o The associated documents must be uploaded via GUS; however no GUS recommendation is generated. o A job aid for this type of manual submission is available in the USDA LINC Training and Resource Library in the “Loan Origination” tab located at https://www.rd.usda.gov/resources/usda-linc-training-resource- library/loan-origination under “Documents and Resources,” “Manual Submission Job Aid.” C. Guaranteed Underwriting System - GUS Accept loans 1. Streamlined Documentation Loan Files When GUS renders an underwriting recommendation of “Accept,” this allows the lender to submit streamlined documentation to request a Conditional Commitment. Information regarding processing procedures is located in the GUS User Guide posted to https://www.rd.usda.gov/resources/usda-linc-training-resource- library/guaranteed-underwriting-system. HB-1-3555 (03-09-16) SPECIAL PN 15-3 Revised (08-05-25) PN 694 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. 2. Full Documentation Loan Files GUS “Accept with Full Documentation” loan files require additional items to be submitted to the Agency. Full documentation submissions are not re-underwritten by the Agency. Full documentation loan files will undergo a review to compare the data entered by the lender to the submitted documentation. Any discrepancies identified by the Agency will be reviewed with the approved lender before the file is released for correction or denied.

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