Compliance News: USDA SFHG Updates Forms RD 3555-11, RD 3555-17, RD 3555-18 & RD 3555-21

The USDA Single Family Housing Guaranteed Loan Program announced on August 30, 2022 the introduction of New Forms RD 3555-11, RD 3555-17, RD 3555-18, and RD 3555-21.

Per the USDA SFHG announcement:

“The following updated forms will be available with a new revision date of August 2022.

• • Form RD 3555-21, Request for Single Family Housing Loan Guarantee and Form RD 3555-17, Loan Note Guarantee have been revised to allow up to five borrowers, to be consistent with the data in the Guaranteed Underwriting System (GUS).
  • Form RD 3555-18, Conditional Commitment for Single Family Housing Loan Guarantee has been revised to allow up to five borrowers and remove reference to the “attached Lender Certification” and the lender is directed to electronically execute all loan closings in the Lender Loan Closing (LLC) system. The Lender Certification page was retained but has been relocated to the last page, as an optional form, to be used only when the LLC is officially unavailable.
  • Form RD 3555-11, Lender Record Change has been revised to remove the social security number and protect the borrower’s PII and data redundancy.
  • All loans submitted on or after November 30^th, must include the newly revised form RD 3555-21 with the August 2022 revision date.”

Docutech is currently reviewing this USDA SFHG notice to determine any impacts to our document library and/or systems. Any modifications made as a result of this USDA SFGH notice will be announced on our Compliance website at https://compliance.docutech.com/.

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.