USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements
USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements.
Verbatim regulatory text
Verbatim provisions from USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
USDA HB-1-3555, Chapter 10, § 10.2 — Credit Eligibility Requirements
Lenders must review the credit history of an applicant, as applicable, to determine an ability and willingness to meet their debt obligations. The following adverse credit items will render an applicant ineligible for a guaranteed loan: x Presently delinquent non-tax Federal debt; x Presently delinquent court ordered child support payments, subject to the collection by an administrative offset, unless the applicant has brought payments current, the debt is paid in full, or otherwise satisfied by a documented release of liability; x Presently delinquent court ordered child support, not subject to an administrative offset, unless the applicant has an approved repayment agreement in place with three timely payments made prior to loan closing, the arrearage is paid in full prior to loan closing, or a release of liability is documented; and x CAIVRS Claim: An applicant that will be a party to the loan does not have a clear “A” Credit Alert Verification Reporting System (CAIVRS) response. Refer to Attachment 10-A “Credit Matrix” for additional information. _____________________________________________________________________________ Guidance documents lack the force and effect of law, unless expressly authorized by statute or incorporated into a contract. USDA may not cite, use, or rely on any guidance that is not available through their guidance portal, except to establish historical facts.
Operationalizing USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶10.2 — Credit Eligibility Requirements
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.
Source of record: https://claudeforcompliance.com/regs/usda-hb-3555-10-2/
· register usda-hb-3555-10-2 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.