Document Updates: 3200 Fixed Rate Note 2021 (Cx25454) for RD/USDA Construction to Perm

HB-1-3555, Chapter 6 gives lenders the option to escrow a borrower’s regularly scheduled principal, interest taxes, and insurance payment established at loan closing to make the loan payments during the construction period. USDA has confirmed that the due date on the note for the first payment on a “Single Close to Permanent Construction” loan is at the lender’s discretion.

New "Print Construction First Payment Date on Note" (FI 193980) allows the Construction First Payment Date (FI 541) to print for the first payment date on "3200 Fixed Rate Note 2021" (Cx25454) for RD/USDA Construction to Perm loans. The permanent First Payment Date (FI 750) will continue to print for these loans unless "Print Construction First Payment Date on Note" is set to “Yes” by custom standard value field mapping.

This change will be available for testing on Stage & Stage 2 servers and will take effect on March 13, 2026. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.

COM-6594
LEG-3292

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.