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What is the difference between these two?

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Anonymous
Not applicable
‎06-16-2017 01:32 PM
‎06-16-2017 01:32 PM

What is the difference between these two?

So first off my loan was signed off on and shipped to USDA yesterday (yay!). Which date should I follow on thier site? I had conditional approval from my lender, does conditional approvals mean from the lender, or from USDA? I was GUS Approved/Accept aswell. And with being GUS Approved whats my chances USDA will maybe ask for more conditionals?

 

MISSOURI PROCESSING SCHEDULE
as of Friday, June 16, 2017

We are processing applications for Conditional Commitments that are determined complete and accurate on: 6-9-2017


We are processing complete and accurate Loan Note Guarantee closing packets received on: 6-15-2017

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Anonymous
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‎06-16-2017 05:02 PM
‎06-16-2017 05:02 PM

Re: What is the difference between these two?

It means they are running 7 days behind for review. Usda guaranteed review is sort of like a rubber stamp and they can pull files for closer review but rely heavily on the lender to do the footwork.
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Anonymous
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‎06-16-2017 05:03 PM
‎06-16-2017 05:03 PM

Re: What is the difference between these two?

Okay so they are not the same. One is for commitment to your loan and one is for funding of your loan/ guaranteeing your loan. 

 

 

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