- National Mortgage Brokers Association
- United States of America
This petition is being written to inform anyone involved in real estate financing a growing problems USDA Rural Development Guaranteed Loan Program is experiencing in getting loan submission files signed off in a timely manner. Right now it is taking 30 days for sign off on USDA Guaranteed Loan Program's before we can close these loans.
In the State of Florida the USDA offices located in Ocala, West Palm Beach and Fort Myers office of are understaffed and overworked and this particular loan program is doubling and tripling in volume due to the present status of the real estate industry and the current demans of this loan program.
By signing this petition we are letting our government know we do have a solution to this growing problem that solution could help stimulate our economy and save the government thousands of dollars by eliminating the need to hire additional staff and the ability to delegate this responsibility to the lender.
We, the undersigned call upon our government to allow for Direct Endorsement Underwriting which would allow the USDA office to be able to do as HUD (FHA) has done and allow for Direct Endorsement Underwriting.
The ability to allow for Direct Endorsement Underwriting for the Guaranteed Loan Program would make it easier and quicker for people to buy homes by allowing them to obtain USDA Funding directly from a USDA approved lender. It would allow USDA approved lenders to consider complete mortgage applications without having to submit final paperwork to USDA for sign off on a program that has already been underwritten within their guidelines. This would also delegate responsibilities and ease the strain on current employees without having to create extra positions within departments.
We urge you to do this as we are in desperate need of help in facilitating this much needed program and USDA is in much need of delegating this duty.
The Support Direct Endorsement Underwriting for USDA Guaranteed Loan Program petition to National Mortgage Brokers Association was written by Melanie Brown and is in the category Government at GoPetition.