Well, how refreshing it is to find out that USDA delays (only in Utah, of course!) are the fault of the lenders....I think Ill call BS on that one! July 25, 2014 The Honorable Rob Bishop U.S. House of Representatives 123 Cannon House Office Building Washington, D.C. 20522 Dear Congressman Bishop: I appreciate your concern about the turn times currently affecting our loan guarantees for rural housing and your recognition of the importance of this program in rural Utah. We are, unfortunately, in a situation not unlike the circumstances that previously resulted in excessive turn times. We have a high volume of loan applications and too few loan specialists. We will soon be able to add a half time loan technician and we have made additional staff reassignments that will reduce the loan backlog. Our Housing Program Director informed me that nearly 80 percent of the loan applications submitted to us by lenders contain errors or are incomplete. The faulty loan application packages result in additional steps and increase processing time. I am not satisfied with loan processing times that exceed four or five business days and I assure you that all available resources are being allocated to bring the turn time back to an acceptable level. An experienced loan specialist can complete an error free application in about hour and a half. As reassigned employees become more familiar with the processing, I am sure the turn time will be significantly reduced. Hopefully, the reassignments will not create undue delay in our other program areas. The USDA Rural Development employees in Utah are highly productive and feel privileged when helping families obtain housing, assisting local business with financing or working to improve community infrastructure. Please take a look at our FYU-2013 Progress Report (attached) to see examples of the great work USDA staff do to advance the rural Utah economy and quality of life. Thank you. Sincerely, Dave Conine State Director
Posted on: Fri, 01 Aug 2014 16:56:03 +0000
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