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Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

I am in Ohio and I heard the same message. I asked our LO and she said that the conditional commitment is what we need to be able to close. She figures they should be back to processing on Monday and that they are about 20 days out but she also said that it might be less than that because a lot of lenders flipped people over to OHFA loans during the shutdown.
Frequent Contributor

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

The Texas line just says "it will take some time to get software and computers up and running" Seriously, how long can it take to turn on a computer!!  lol...... I have only called 11 times!  the website has been up since I checked it first thing this morning.




last app 11/13/2013 gardening for at least a year
Frequent Contributor

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

The TX hotline has not changed its message in over 24 hours even though it says they will update regularly.  I am so antsy! 




last app 11/13/2013 gardening for at least a year
Established Member

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

So am I cookie! I've already called at least once an hour today because Ohio's says the same thing, they will update when there are changes.
Frequent Contributor

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

Finally it changed!!!!  it says GUS will not be operational until 10/21.  I have had to replay it several times to get all the information off it. On the 21st they will again accept and process loan applications however funding not yet available so the conditional commitments will subject to funding.  On the 21st they will begin working files received on Sep. 16th.   Issue of loan note guarantees will resume Oct. 25th.  Also, that the eligibility areas did not change yet.

 

Not real sure what all that means really.  My application was submitted for USDA approval on the 24th of Sep. So does that mean they will start to work files submitted on the 16th but not atually issue the guarantees until the 25th of Oct?  Looking like I will be a Nov. closer now. Guess I have to pay another month rent here.  Smiley Frustrated




last app 11/13/2013 gardening for at least a year
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Member

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

Well here in Florida, they changed the recording since yesterday morning. I called at 7 am and it said for Oct 17 and 18 we are working on files received on August 15 through the 22. So they are really behind! I'm hoping they'll hire more employees as they did last year to bring them out of this backlog. As of now just keep waiting as we have all these weeks!! Best wishes for you guys in other states...
Established Member

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

Hello Everyone,

I am not as far into the process as the rest of you. My file is still being processed through the underwriter. I have a closing date set for November 13. Hopefully the backlog will have been worked through and I will close on this date. I am in Ohio.

Starting Score: Experian 692 Equifax 705 Transunion 661
Current Score: Experian 692 Equifax 705 Transunion 661
Goal Score: 800

Frequent Contributor

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

TX is now finishing up files submitted on Sep. 16th and will start Sep. 17th today. Looks like I have another week. My LO says we may be able to close the 30th or 31st! 




last app 11/13/2013 gardening for at least a year
Established Member

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

Well Ohio's has not updated since Friday. It's still saying they anticipate having their systems back up on the 21st (today) and will start on September 4th loan apps. Mine was sent in on Sept 13th. I hope they have got everything working, and are just to busy to update!
Frequent Contributor

Re: Guaranteed Loan In The Hands Of The USDA Nothing To Do But Wait!

Done Renting looks like our files will be done about the same time if nothing else goes wrong!




last app 11/13/2013 gardening for at least a year