Bulletin 2024-063 USDA – Fiscal Year (FY) 2025 Conditional Commitment Notice
Newrez LLC “Newrez” Approved Correspondent Clients: please note, with the start of the new fiscal year on October 1, 2024, USDA anticipates having a temporary lapse in funding for the Single-Family Housing Guaranteed Loan Program (approximately two weeks).
During this time, Rural Development will issue Conditional Commitments (Form RD-3555- 18/18E) “Subject to the availability of commitment authority” for purchase and refinance transactions.
Guarantee Fees will remain at 1.00% for the Upfront Guarantee Fee and .35% for the annual fee on purchase and refinance transactions for fiscal year 2025.
Newrez will continue to purchase USDA Rural Housing loans with Conditional Commitments subject to availability of commitment authority. Loans without a Conditional Commitment are not eligible to be purchased. The Loan Note Guaranty will be required post-purchase.
For USDA’s official announcement please refer to the following Link for additional details.