Rural Housing Says GUS Will Be Operational Soon

The federal government shutdown ended late Wednesday night, but the Rural Housing Service is still working on getting its automated underwriting system up and running.

The U.S. Department of Agriculture disabled several of its websites during the 16-day shutdown. In a notice to Rural Housing lenders, the agency said its automated underwriting system GUS will be operational on Oct. 21. That will enable the agency to issue conditional loan commitments so lenders can close loans.

Other USDA systems will not be operational until late next week. For example, the USDA will be unable to process lender-submitted loan closings until late next week, the agency said Friday in a notice to RHS lenders.

In extending government funding through Jan. 15, Congress also agreed that counties that are currently eligible for USDA Rural Housing programs will remain eligible for Rural Housing-guaranteed loans until Jan. 15, 2014.

Rural Housing Service offices were closed and its employees were furloughed during the entire government shutdown.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Rural-Housing-GUS-Operational-Soon-1039464-1.html

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