Hart Mortgage Services » USDA Rural Development- USDA Home Loans

Chase Retail Has Suspended USDA/Rural Housing Loans

Tim Hart--Hart Mortgage Services — Wed, 06 Jan 2010 21:50:05 +0000

We have just heard that Chase retail has suspended accepting USDA/Rural Housing loans in Fort Myers-Lehigh Acres.

Chase plans on accepting USDA loans soon but they are not for sure on the exact date.

But what do you know…….in the meantime, we are still accepting USDA/Rural Housing Loans!! If you send your USDA buyers to Chase and need your client approved please do not hesitate calling me and we will happily step in to help.

We are still able to close USDA loans while Chase figures out what they are going to do. Please call me with any questions or concerns.

North Fort Myers USDA Office is now taking 30 days to underwrite a file

Tim Hart--Hart Mortgage Services — Tue, 29 Dec 2009 20:11:46 +0000

I wanted to pass along this information from our local USDA office in North Fort Myers.

They are now taking 30 days to underwrite a file starting on files from 12/18 on. They were taking 10 to 15 days before today so this is not good news for any USDA buyer.

Hopefully you will be able to prepare your buyers and sellers for this long delay until USDA/Rural Housing can get caught up.

Thanks and have a great New Year!

Here is the e-mail we received today.

From: Roy, Kristine – Royal Palm Beach, FL
To: Prioleau, Angela – Royal Palm Beach, FL
Sent: Mon Dec 28 12:14:11 2009
Subject: 30 Day Email to Lenders

Though we have taken every possible measure to process your Guaranteed Loan request, due to the extensive volume experienced, we will not be able to underwrite your request by December 31, 2009. The current turn time for underwriting is averaging 30 calendar days from the date of submittal.

We apologize for any inconvenience that this may have caused.

Sincerely,

Angela S. Prioleau

Area Director

Hart Mortgage Services has USDA/Rural Housing money for your Florida Mortgage!

Tim Hart--Hart Mortgage Services — Fri, 23 Jan 2009 20:07:36 +0000

With USDA/Rural Housing being out of money until early March most Realtors and buyers are not trying to obtain 100% financing because they think they can’t. Please know that we are still funding USDA/Rural Housing Loans whether USDA has the funds or not. We can do this because we are a direct lender with the funds to not worry about USDA funds for now. The Florida mortgage rates are at 5% for a 30 year fixed rate! Please let us know if we can help you with your Florida Mortgage Home Loan. Have a great day!