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USDA Rural Housing Refinance Product Suspended

Dear Valued Partner,

USDA funding allocation for Fiscal Year (FY) 2012 is exhausted. Pending receipt of funding in FY 2013 for USDA refinance transactions, all registrations will be suspended. USDA recently announced that:

  • Conditional Commitments will no longer be issued by USDA on refinance transactions.
  • Current USDA Refinances that are currently in process and have not been issued conditional commitments will be subject to a higher upfront Guarantee and Annual Fee.

Until the USDA funding is available for refinance loans that are currently pending conditional commitment by USDA, Sun West will:

  • Suspend any submitted USDA Refinance loans.
  • Not accept any new USDA Refinance loan submissions.

If you have any questions, please feel free to contact your Account Executive at (855) AT-SUNWEST or (855) 287-8693.

Sincerely,

Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone : (800) 453-7884
Equal Housing OpportunityThis information is provided to licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303 Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884