News

USDA Announces New Loan Modification Program
12/3/2015

USDA Announces New Loan Modification Program

Following the example of the U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA), the United States Department of Agriculture (USDA) is now offering note modifications—a low-cost alternative for housing owners to reduce annual debt service and thereby increase the overall financial performance of the property.

5/27/2015

Ginnie Mae Announces Change to USDA Mortgage-Backed Securities Program

Ginnie Mae has announced that starting June 1, 2015, the maximum loan amount for USDA Sec. 538 loans that will be eligible for pooling into Ginnie Mae mortgage-backed securities (MBS) will be increased from 50% of total development costs to 70% of total development costs.

Affordable Outlook: What’s in Store for 2014?
11/5/2013

USDA RD Eligibility Changes

Should Congress pass a budget by Jan. 15, 2014, the United States Department of Agriculture (USDA) will likely begin using the 2010 census data to determine eligibility for its Rural Development (RD) loan programs. If Congress instead passes another continuing resolution (CR), then the change will be delayed until Sept. 30, 2014.