UPDATE – Congress has passed temporary Continued Resolution meaning that changes to USDA Rural Housing eligible areas has been delayed until mid December.
What does this mean for PrimeLending and USDA Rural Housing?
USDA Rural Housing will continue to issue Conditional Commitments for loan transactions located in possible affected areas that are subject to change.
Because Congress passed Continued Resolution until mid December the USDA property eligibility changes have been “delayed” until that time. As for the conditional commitments between now and then they will be honored. We are anticipating that USDA Rural Housing will release further direction regarding exact dates and requirements for USDA Rural Housing property eligibility on or before mid December.
PrimeLending at this time does not have a required date of when Conditional Commitments must be received. In other words it is “business as usual” for USDA transactions, until further information is provided.