660 or Below Credit Score and Manual Underwriting
September 18, 2020
September 18, 2020
September 11, 2020
September 01, 2020
Effective September 1, 2020 the HIP DPA program will change from a 3-year/30-year split second mortgage to a straight 3-year prorated forgivable second.
August 31, 2020
Delegated Lenders utilizing their own direct endorsement (DE) authority may complete their own Project Review without submitting the project for review to U.S. Bank Project Approval Department (PAD). Any DE Lender may use the new Single Unit Approval review as U.S. Bank will not be required to indemnify the loan. Any loan utilizing the Single Unit Approval will have a maximum LTV of 90% LTV (including MIP) due to the default risk.
July 17, 2020
July 10, 2020
U.S. Bank has compiled a list of frequently asked questions regarding policy updates as the relate to Coivd-19 The FAQ document will be dynamic and fluid. We encourage you refer to this document frequently for updates and edits.
April 01, 2020
Effective April 1, 2020 U.S. Banks's Project Approval Department (PAD) will streamline the contact information used for this area to only use the email address submissions - projectapprovaldept@usbank.com questions padquestions@usbank.com
February 06, 2020
The seller must have taken title to the subject property more than 90 days prior to the contract date on the sale of the property to the applicant.
January 31, 2020
U.S. Bank will allow funding fee to be split. It can be partially paid by the buyer, seller, partially financed, or partially paid in cash.
January 16, 2020
U.S. Bank will allow Assisted Appraisal Processing Program when allowed by VA, excluding complex properties, new construction or the absence of a legal written agreement as defined by VA