A processor reviews a USDA file where program eligibility and occupancy must be confirmed. Which conclusion is accurate?
Correct Answer
A) Confirm rural eligibility, income limits, and primary-residence use
USDA Section 502 guaranteed loans require eligible rural property, income eligibility, primary residence use, and lender approval. The best answer is "Confirm rural eligibility, income limits, and primary-residence use".
Why This Is the Correct Answer
USDA Section 502 guaranteed loans require eligible rural property, income eligibility, primary residence use, and lender approval. The best answer is "Confirm rural eligibility, income limits, and primary-residence use".
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During a disclosure desk review, the branch manager encounters an RESPA Escrow Requirements issue. Which response should resolve the issue before the file moves forward?
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