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15.2 LENDER RESPONSIBILITY
The originating lender is responsible for the accuracy of all information used to obtain a Rural Development guarantee in accordance with 7 CFR 3555 and this Handbook. The permanent loan file must contain verified documentation that supports household eligibility for the Single Family Housing Guaranteed Loan Program (SFHGLP) and the lender’s approval of the loan request.
Lenders are not authorized to close loans prior to the issuance of the Conditional Commitment. Closing a loan prior to obtaining a Conditional Commitment from the Agency will render that loan submission ineligible for a Loan Note Guarantee and may affect the lender’s approval status to participate in the program. 15.3 LOAN APPLICATION PACKAGE