USDA-RD has updated their Conditional Commitment for Single Family Housing Loan Guarantee model form (RD 3335-18). Accordingly, Docutech will be updating Cx18892 to conform with the new model form. The changes consisted of mostly minor text edits, but there are two changes of note. The first change is in the sentence, “The Lender’s certification must address all adverse changes and be supported by financial statements of the Borrower and its guarantors not more than 60 days old at the time of certification.” The new model form sets the maximum age of all supporting financial statements to 30 days instead of 60. The second change of note is in the section for the “Additional Conditions and Requirements including source and use of funds;” namely, the checkboxes and accompanying text are removed for “No additional conditions” and “Additional conditions and requirements”.
These updates will be effective on April 20, 2016. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.