RHS adopted rules mandating the use of the Guaranteed Underwriting System (GUS) and the Lender Loan Closing System (LLC) for all Single Family Housing Guaranteed Loan Program lenders. Per the rule adoption, the mandated use of GUS in loan originations and the LLC for loan closings will allow RHS to decrease time-consuming and expensive manual file reviews, improve performance monitoring, and reduce program risk of the guaranteed loan portfolio. The rule adoption is effective May 9, 2022.
Click to view the RHS 87 Federal Registrar 6773: https://www.tenaco.com/wp-content/uploads/2022/02/RHS-87-FR-6773-02-07-22.pdf
