National Update: USDA Proposes Tech Fee for Lenders

On July 13, 2018, the US Department of Agriculture (USDA) Rural Housing Service (RHS) put out a notice for comment on a proposed guarantee underwriting user fee to be charged to lenders for use of the RHS automated guaranteed loan system. The fee would be used to improve USDA and RHS technology for the loan program. The USDA Secretary is permitted to assess and collect this fee under the Housing Opportunity Through Modernization Act of 2016, which NAR supported. USDA is estimating the user fee will be $25.00 with an expected implementation date of January 2, 2019.

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