FY 2012 refinance funds are exhausted.
Refinance loan requests for which a conditional commitment (Form RD 1980-18) has not been issued will be returned to the lender and require underwriting under the FY 2013 fee structure. The FY 2013 fee structure will require a one-time upfront guarantee fee of 2 percent and an annual fee of 0.40 percent. At this time, the Agency will not issue conditional commitments “subject to” receipt of FY 2013 funding or commitment authority.
If determined that Louisiana Guaranteed Rural Housing will not be able to review the loan guarantee application and issue a conditional commitment before September 30, 2012, lenders will be required to underwrite the application at the FY 2013 fee structure. The FY 2013 guarantee fee structure will require purchase and refinance loans to carry a one-time upfront guarantee fee of 2 percent and an annual fee of 0.40 percent. Louisiana is currently working on applications received on August 8, 2012.