NEW USDA CHANGES

Effective immediately, findings of:

Accept/Eligible – No minimum trade-lines required
Refer/Eligible – Two trade-lines with a 12 month review history is required

Acceptable trades reporting on credit are Installment, Revolving, and Deferred accounts
Acceptable non-traditional credit references are Rent, utility payments, cell phone, car insurance, non-payroll deducted health insurance, child care
Ineligible non-traditional credit references are monthly subscriptions, gym memberships, child support, garnishments, court ordered debts.

A new undisclosed debt no longer requires a file to be manually downgraded.

Lock your RD Loans online today –  GMFS Lock Desk is open 8:00 am – 8:30 pm CST to lock and price your loans online.