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2.3 AGENCY RECORD MAINTENANCE
A. Lender Approval Files
The Agency will establish a file folder for each lender approved for participation in the SFHGLP. The Agency will digitally image or electronically store all lender approval documents in the Rural Development Electronic Customer File (ECF). The Agency will retain all documents relative to lender approval for participation as long as the lender remains active and maintains its approval status. Refer to Chapter 3 and Attachment 3- A of this Handbook for required documentation for lender approval.
If a lender’s approval status is voluntarily withdrawn by the lender or terminated by the Agency, the lender file and all documentation pertaining to the withdrawal or termination will be retained in accordance with the most recent Agency file record retention requirements.
B. Mortgage Files
The Agency may dispose of all documents except those listed below, which will be
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retained in accordance with RD Instruction 2033-A, once the Agency receives notification from the lender that the mortgage has been satisfied. The Director of the Origination and Processing Division will designate or delegate authority to the supervisory staff of the unit or other qualified personnel to ensure that appropriate files are established and maintained.
All core documents will be retained for long-term preservation in ECF, except for the Credit Reports on GUS loans, which will be stored in GUS. A quality control review will be performed to confirm the imaged documents have been uploaded and indexed to quality expectations of accuracy and consistency. The following records will be retained:
1. Form RD 3555-18 or Form RD 3555-18E, Conditional Commitment for Single Family Housing Guarantee, with conditions, requirements, and Lender Certification;
2. Promissory Note;
3. Loan Application(s);
4. Employment/Income Verifications and Income Determinations;
5. Credit Report(s);
6. Form RD 3555-21, Request for Single Family Housing Loan Guarantee;
7. All forms related to the Agency’s environmental review (Forms RD Instruction 1970-B, Exhibit D, Environmental Checklist for Categorical Exclusions; current FEMA Form, Standard Flood Hazard Determination Form; etc.);
8. Documentation providing annual and repayment income calculations on Attachment 9-B, Income Calculation Worksheet, Uniform Underwriting and Transmittal Summary 1008, and/or an equivalent form provided by the lender. This requirement excludes Guaranteed Underwriting System (GUS) “Accept” recommendations;
9. Final GUS Underwriting and Findings Report;
10. Form RD 3555-17 or Form RD 3555-17E, Loan Note Guarantee and the final Amortization Schedule attached to the Loan Note Guarantee;
11. Confirmation the requirements under 7 CFR 3555, Section 3555.202 have been met;
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12. Appraisal Report(s);
13. Form RD 1922-15, Administrative Appraisal Review;
14. National Office waivers, if applicable;
15. Final Closing Disclosure;
16. Internal Agency Processing Checklist;
17. Internal Agency Loan Closing Checklist, if applicable;
18. Any other forms deemed necessary for record retention by the Agency. When a loss claim is paid on an account, the mortgage file and documentation supporting the claim will be retained in accordance with RD Instruction 2033-A. Loss claim documents may also be digitally imaged and stored in ECF.